Let’s adopt rand, says MDC-T MP

Source: Let’s adopt rand, says MDC-T MP | The Herald July 27, 2016

Lloyd Gumbo Senior Reporter
MDC-T National Assembly Member for Hatfield Dr Tapiwa Mashakada says Government must implement a number of mechanisms to improve liquidity in the economy. Among the interventions are repackaging the Indigenisation and Economic Empowerment Act, promoting Diaspora remittances, looking for external loans as well as switching to the Rand Monetary Union.

Dr Mashakada said this in the National Assembly yesterday while steering his motion calling for the de-dollarisation and adoption of the rand as the anchor currency and addressing the fundamental structural causes of the financial and economic crisis facing the country.

“We need to repackage our indigenisation laws so that we can get Foreign Direct Investment,” he said. “We have got the natural resources. What we lack is capital. We also need to look at the question of getting Official Development Assistance. Dr Mashakada said some of the sources of foreign currency included enhancing exports and Diaspora remittances.

“If we lock Diaspora remittances, we can forget about FDI because if you look at countries such as Eriteria, Ethiopia and the Comoros Islands, they rely on Diaspora remittances. So we can also introduce infrastructure bonds.

But responding to the motion, zanu-pf MP for Buhera West Cde Oliver Mandipaka said the economic challenges facing the country started after the imposition of illegal sanctions on the country by the West at the behest of the opposition Movement for Democratic Change.

He said Government was alive to the challenges facing the country hence the introduction of Zim-Asset. Buhera Central MP Cde Ronald Muderedzwa added that the biggest challenge facing the country was that of lack of funding.

“We should look at how we can attract funding. On indigenisation, we need ministries to speak with one voice. In fact I suggest that we should have a think-tank that will help us have convergence.”

COMMENTS

WORDPRESS: 5
  • comment-avatar
    Joe Cool 6 years ago

    A think-tank. Good idea. But where will we find the thinkers?

    And what is ‘Official Development Assistance’? Is this where foreign tax payers are formally instructed to hand over their money?

  • comment-avatar
    Mutengesi 6 years ago

    We do not need FDI, bob and made sure we don’t need it. So why are we looking for it. Lets get rid of the stupid laws first then we can talk about using rand. With the current mentality in govt, we will just bring SADC down to our level.

  • comment-avatar
    Revolution Now 6 years ago

    This is the same MDC that were conned by Godfather Bob & his Zanu PF mafia to share government and to use the US dollar instead of the Rand. Bob just offered them the benz & the house & that was it, meaning Zanu PF thieves could fatten they foreign bank accounts. I wouldn’t trust any of these politicians, none of them care about ordinary Zimbabweans. It’s time for a complete change, Revolution is the only answer.

  • comment-avatar
    bibi manheru 6 years ago

    When an “educated” person being paid to craft policy says “We should look at how we can attract funding” is this person worth his place in the house? Similarly you hear them say “Let us sit down and see what we can do!” or “Something needs to be done”

    ZANU PF people are bankrupt

  • comment-avatar
    Givenup 6 years ago

    Zimbabwe is a write off. Just accept it. Our politicans do not care not one. What this country needs is a David.