ZimAsset: We need 40 yrs, says Mujuru

via ZimAsset: We need 40 yrs, says Mujuru.newzimbabwe.com 10 June 2014

VICE President Joice Mujuru has dampened hopes of a quick fix to the country’s faltering economy through the government’s five-year ZimAsset economic blueprint, warning it could take a lifetime to achieve the programme’s objectives.

The Zanu PF government is under pressure to deliver on its election promises which include some two million new jobs at a time the economy is widely accepted to be going south.

A liquidity crisis that has held the economy back since dollarization in 2009 shows no signs of easing with cash-squeezed companies forced to shut down, throwing hundreds onto the already huge jobless heap.

Aware of the potentially explosive situation, the government now appears to have decided to dampen expectations.

“Five years is too soon to achieve the objectives of ZimAsset. It is the beginning of a lifetime and can take up to 30 or even 40 years,” Mujuru said in Harare Monday according to the State-run Zimbabwe Broadcasting Corporation (ZBC).

After winning a new five year term in office last year, Zanu PF launched its ‘Zimbabwe Agenda for Sustainable Socio-Economic Transformation (ZimAsset): October 2013 – December 2018’, vaunting the plan as the cure for Zimbabwe’s economic woes.

So-called quick wins under the five-year programme were to be implemented between 2013 and 2015, whilst the second phase would cover the period 2016 to 2018 by which economic growth was expected to top 9.9%.

But some ten months after the July 31 vote, critics and independent analysts say there is little sign ZimAsset is working.

“The past year has seen more business closures in Zimbabwe than at any time since 2008; emigration has increased, as has the cost of living; and poor service delivery remains a national bone of contention,” said the UK-based Royal Institute of International Affairs in a recent report entitled ‘Zimbabwe’s International Re-engagement: The Long Haul to Recovery’.

Former Finance Minister, Tendai Biti last week said: “The economic figures are not looking good. The current Zanu PF government is clueless and mediocre.

“The biggest crime that this government of the day is doing is failing to pay civil servants their monthly salaries on time.

“The government payday is now fluctuating and the government is failing to honour civil servants’ deductions. It is not coping. We are seeing the government’s desperation in the increases in health fees and toll gate charges.”

But if the views of the opposition and an institution funded, according to Zanu PF, by an enemy government trying to force regime change in Zimbabwe cannot be trusted, try the local central bank.

Last month Reserve Bank of Zimbabwe (RBZ) senior division chief, Simon Nyarota told a meeting of industrialists in Harare that the economy would sink into the negative territory in the next year if the current decline was not arrested.

“(The economy) is going to decline and it will be similar to the 2007/08 but this will be worse because we are dollarized so we do not have anything or a policy that will stabilise the economy immediately like what happened in 2009,” he said.

One of the biggest problems crippling ZimAsset is the lack of funding with some $30 billion needed to finance the programme. Western countries, distrustful of President Robert Mugabe, remain reticent after the acrimonious fall-out of the last decade.

Even Zanu PF’s all-weather Chinese friends also appear apprehensive about extending huge loans to a government that has piled up US$10 billion of debt which it is not even repaying.

In February, Finance Minister Patrick Chinamasa said he was working on a comprehensive financial package with the Chinese but he hasn’t made reference to the deal since.
No free dinners … Finance minister Patrick Chinamasa with Chinese envoy to Harare Lin Lin

The Chinese later explained they would not extend any large sums without collateral because “it’s in accordance with rules and regulations when granting any loan”.

Outgoing economic and commercial counsellor at the Chinese embassy in Harare, Han Bing, told online news agency, The Source, that his government was open to a deal, provided Harare was prepared to hand over the rights to all future mineral revenues.

“We are discussing whether we can take proceeds of sales for some minerals as collateral for the loans,” said Han.

“(We) and the team from the ministry of finance are now working at a technical level on how they can set up such a mechanism, how much the collateral would be and how much loans they (Zimbabwe government) can get.

“We are asking for collateral because it’s in accordance with rules and regulations when granting any loan. This is the concept that we are now discussing with the government.”

But that appears to be a concession too far even for an increasingly desperate administration.

Challenged Monday on where the government would get the $30 billion needed for ZimAsset, Mujuru, a war veteran and aspirant to the Presidency, reminded her interlocutors that the liberation struggle was fought without a penny.

“We fought for this country and won with no budget; no money, no car, no bicycle,” she said.

“So this is going to be the best budget we have ever drafted and gives us no boundaries on what we need to do but when we talk of numbers, people might think we need billions within a day.”




  • comment-avatar
    Stuart Smith 8 years ago

    40 years of the same path you are on will result in nothing being left.
    Just a thought every country in Africa has tried the Marxist, Stalinist, Leninist, Maoist, and just about every ism going and they have failed, try a Conservative right wing way and see your country grow.

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    Angela Wigmore 8 years ago

    Mujuru is a liar. Zanu and Zapu had the backing and support of China, Russia, Denmark, Sweden, possibly North Korea, several SADC countries and goodness knows who else. And as for needing 40 years for their plans to take effect – if they hadn’t started their destruction of Zimbabwe 34 years ago there would not be any need for ”reconstruction”!!!

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    Roving Ambassador 8 years ago

    We only need N effective law and justice system, the country will run itself. ZANU must just go to hell and never come back.

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    John Thomas 8 years ago

    Who say this dull woman could be president?

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    The Chinese treat Africans as less human! !!! Whatever pacts they enter with the old and tired ZOFF party is to the Chinese advantage. We would rather be a colony of our former masters than to be friends with the Chinese! !!

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    ZPF party

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    if we collect money stollen from the salary gate we have already 1 billion,lets start with that money

  • comment-avatar
    Petal 8 years ago

    Mbada Diamonds has a complex ownership structure with parent companies in the British Virgin Islands and Mauritius

    Sam Pa businessman from Hong Kong taking care of the secret service -salaries? in exchange for diamonds

  • comment-avatar
    Petal 8 years ago

    Find the loot

  • comment-avatar
    Petal 8 years ago

    Mbada Diamonds belong to Mhlanga

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    Mr Zimbabwe 8 years ago

    The more Mai Mujuru talks, the less and less she seems to me to be the ideal person to Lead Zimbabwe’s post Mugabe recovery. I don’t know folks. I’ve heard all these stories about Emmerson..is he such a bad guy? We all know this ship has run aground. We need a decisive, brilliant skipper to tug this ship back on course. We need a sense of urgency..Some captain who is comfortable in their own skin. Intellectual, yet firm and arrogant. We need some command economics Chinese style…forward looking, radical corruption busting measures. We basically need someone who can ferret all the rats out of their bunkers, some street guy who can get his hands dirty, who knows the underworld.

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      The reason Emerson says very little isnt because he is deep or anything like that. He is hiding his dark side well. He is cunning and I want to believe worse of a tyrant than Robert. There is nothing enviable about him. While Joyce is openly stupid Emerson strikes me as brutal. Arrogance is not a virtue. We need someone with a heart, who can epmpathise with the majority and willing to accept new ideas which may be divergent with his as long as they are good for the country.New blood is needed and Im sure its there but its so scared of these vultures they will not dare show their potential.
      Do you think Emerson will have any ideology different from Bob? If he reaches the top he is not going anywhere and we will be stuck with him into his 90’s same as Bob.

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    zanupf fear me 8 years ago

    Does the muroyi dream she will even be alive in 2015 let alone 2055 ????

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    “We fought for this country and won with no budget; no money, no car, no bicycle,so this is going to be the best budget we have ever drafted”. And this dunderhead wants to be Zimbabwe’s next President??Even God would’t be able to save us from such stupidity

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    Joyce a stupid dump fool how is it possible to revive the economy with a paper when you inherited an economy with everything and made it bankruptcy. It’s only fools who can believe you sis.

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    Gomogranny 8 years ago

    This is hilarious! First we must indigenize and then we better sell off the future mineral assets of the nation to the Chinese so we can borrow more money to indigenize……….brilliant policy from ZANU they are outdoing themselves yet again. They should just join the Tuesday night comedy slot.

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    40 years? It’s not so much to wait. After all, the country’s been waiting 34 years for Mugabe to get it right, why not give him another forty to make it perfect – perfect, utter distraction of a country, it’s economy and it’s people.

    I think in 40 years they’ll be saying that we just have to wait another 80 years, and they’ll be right – because that’s how long it could take to repair what ZANU-PF has already destroyed in 34 years.

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    40 Years, I think not, the Zanu machinery can steal 30 billion in less time then that! End result the same = 0

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      Chiwoniso D 8 years ago

      Teurai R, yu were warned 18.04.80 by J. Nyerere “… have inherited the jewell of central africa, do not mess it”. You messed it and you want 40 yrs to correct it. Be open to us, say yu all want die in office chete chete.

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    The Mind Boggles 8 years ago

    No car no bicycle this is incredible I can not believe what I’m hearing/reading , this is someone who wants to lead a country in the 21st century!!! I give up there is no one not even god can save Zim from this chaos

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    Why didn’t she tell this to the electorate during her campaigns?

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    Expat 8 years ago

    Ladies & gentlemen, what a world we live in! How on earth did an idiot such as this woman ever come to be in the leadership, in fact how did any of the leadership get into power??? We all know the answer, and i am glad to see the majority of Zimbabwean citizenry agree in these matters, so when we go to international meetings and this dumb S**t walks in what do you think the politicians meeting her say – ” here comes Angela Merkel’s double”??????

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    nyoni 8 years ago

    Mahlaba she did not tell the people this because the hippo was underwater clearing her noise and cleaning her brain.

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    Mai mujuru, why would we need 40 years. Who exactly has caused this utter destruction of a once vibrant nation?????? Repent!

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    Mlimo 8 years ago

    Another 40 years of destruction my it will look like the moon nothing on it no one alive and no business just derelict buildings and derelict mines and derelict houses. Zimbabwe will have fallen off the world map just a black hole in the middle of Africa. Stupid imbecile called mujuru

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    Rwendo 8 years ago

    Never before in the modern history of this nation has the distance between height of of our need and this nadir of quality of our political leadership been so great.

    We are adrift, steered by a senile despot seconded by kleptomaniac dunderheads.

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    masvukupete 8 years ago

    Kikikikikikik hahahahahahah

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    TZ president Jacob Ngarivhume has been arrested by state security agents and is currently detained at Chimanimani police station

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    exmanica 8 years ago

    Probably the same type of dynamic plan drawn up by Cambodia and Albania.

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    Petal 8 years ago

    The British Virgin Islands consist of the main islands of Tortola, Virgin Gorda, Anegada, and Jost Van Dyke, along with over fifty other smaller islands and cays. About 15 of the islands are inhabited. The capital, Road Town, is situated on Tortola, the largest island, which is approximately 20 km (12 mi) long and 5 km (3 mi) wide. The islands have a population of about 27,800, of whom approximately 23,000 live on Tortola.
    Find the loot of Mhlanga here. This Island is the last of the territory of the British Empire most people bank here to avoid TAX in their countries

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    Daddy Chikos 8 years ago

    If it will take 30 to 4o years as u are saying mam considering the way how u are running the country everyone will be dead except your patrons.So people better vote u out before u suffocate them to death.

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    Parangeta 8 years ago

    Why are we all commenting, ZPF will be OUT
    by next year, or 2018 latest!

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    protestor 8 years ago


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    And you hear someone asking us -who would you rather have Joyce or Emerson to succeed RGM?


    Joyce is good for two things only…curtseying,at the airport when Bob leaves or returns from his travels and warming Bob’s chair while he is away. SHE SHOULD NEVER BE ALLOWED TO OPEN HER MOUTH EXCEPT TO EAT AND ULLULATE!!Everything that ever comes out of her mouth is an insult to all intelligent women of Zimbabwe.

    Any government with sense plans for a five year period. All sensible meet the SMART CRITERIA.

    Zanu Pf is a joke!!!