Zim to be another Singapore — Zanu PF

Source: Zim to be another Singapore — Zanu PF | Newsday (News)

BY VENERANDA LANGA

THE ruling Zanu PF party says it is optimistic that Zimbabwe will soon come out of the economic woods and transform into another Singapore.

Top Zanu PF official and former presidential adviser Christopher Mutsvangwa made the remarks during a Zimbabwe Coalition on Debt and Development (ZIMCODD) virtual conference at the weekend.

The meeting also analysed the economic impact of Finance minister Mthuli Ncube’s Transitional Stabilisation Programme (TSP) which ends in December this year.

Its strategic clusters include governance, macro-economic stability, re-engagement, inclusive growth, infrastructure and utilities and social development.

The TSP also introduced austerity measures and a 2% electronic money transaction tax.

Mutsvangwa hailed the TSP as a major success, but accused the opposition MDC Alliance of running down councils under its control, hence retarding development.

“In Bulawayo, factories have been taken away by churches and it is an indictment on those local authorities and the political parties that have put those local authorities into power, and that is why cities have rotten in this country,” Mutsvangwa said.

“We have never had a challenge of foreign currency in this country, but the economy was engineered when money changed from paper to digital.”

In apparent reference to Econet’s mobile money’s dominance on the financial market, Mutsvangwa said: “One company was allowed to become the central banker. We saw the madness of mobile money when the company became the new central bank until recently, when the President decided that action should be taken.”

He continued: “We are now properly regulating mobile money platforms and the money market and it will turn Zimbabwe into a Singapore. We have to start by debunking the myth that the Rhodesian economy was a model that must be followed.”

But other participants said Ncube’s austerity measures had impoverished most Zimbabweans.

“But the TSP has not tried to take into account social aspects and so we have seen the worsening situation as a result of austerity measures that have not tried to address social matters in the country. We cannot say they have succeeded on social needs when society is underfunded,” said Cornelius Dube from the Zimbabwe Economic and Policy Analysis and Research Unit.

On currency stability, Dube said Zimbabwe was still at a nascent stage in terms of the foreign currency auction system where only the Reserve Bank of Zimbabwe was the key player.

“If we have the private sector as sellers at the auction floor, then we have reached the mark,” he said.

COMMENTS

WORDPRESS: 8
  • comment-avatar
    Ndebele 6 days ago

    Still stealing, still murdering, still abducting, still lying, still raping, still taking farms, still printing money, still rigging elections – and still dreaming that these attributes on the Zanu PF cv are going to create a Singapore? And now the ED twins have got their Tata ma chance to be the play boys instead of Bob’nGrace’s playboys. Give me some of that stuff you guys are smoking please.

  • comment-avatar
    Fallenz 6 days ago

    It is becoming more and more evident that Mnangagwa is not the only insane person in Zim……… 

  • comment-avatar
    Zambezi 6 days ago

    The Rhodesian economic model worked – just needs to be tweaked a bit for the modern digital economy.

    Zimbabwe…. a Singapore…… OMFG, you have gotta be kidding!!!!

    With you corrupt lot in power, Yemen will soon look like paradise!!!

    Complete and utter idiots of the highest (lowest) order.

    🙂 🙂 🙂 🙂

  • comment-avatar
    citizen 6 days ago

    Kenya’s M-Pesa has more than three times as many subscribers as Eco-cash and yet they have no problems. So where do our troubles really lie?

  • comment-avatar
    Bhingo waJakata 6 days ago

    Talk is cheap! You cannot even feed people or put medication in clinics. Yes it will become a Singapore after all the morons are dead, only then will there be hope.

  • comment-avatar
    Zulu 6 days ago

    The devil is making this government crazy. Zimbabwe if we are honest, in this generation we will never see a recovery mark my words. This Government only know theft and rigging elections. In what world does it translate to Economic recovery.

  • comment-avatar
    Macho 5 days ago

    Until when Mr mutsvangwa… 40 yrs is not a joke… Where did ur party run councils is developed.. No need for pointing fingers….. #downwithpolitics

  • comment-avatar
    Dr Ace Mukadota PhD 4 days ago

    In 1980 both Singapore and Zimbabwe had similar GDP per head. Today Singapore has GDP per head of 68 000 USD and Zimbabwe has GDP per head of 1400 USD.
    Clearly Singapore has done a lot better than ZW – I wonder why comrades when ZW has the most educated population on the continent of Africa.
    Perhaps somebody should do a PHD study on why the difference