‘Zim must not expect any economic miracles, I’m not Makandiwa’

via Bulawayo24 NEWS | ‘Zim must not expect any economic miracles, I’m not Makandiwa’ 28 November 2013

Finance Minister Patrick Chinamasa warned Zimbabweans not to expect any economic miracles as he is not UFIC founder, Prophet Emmanuel Makandiwa.

Speaking at the ZIA investment awards last night Chinamasa said, “Most of the advice I have received is basically asking me to build a roof over a non-existent structure. A lot of the people that speak to me are expecting miracles and I have been trying to explain to them that I am not Makandiwa. I am not a prophet; I deal with practical physical issues.

“We need a foundation and build brick by brick, with our priorities being energy and water as there is a correlation between energy supply and economic growth,” he said.

Chinamasa said foreign direct investment was critical in funding the Zimbabwe Agenda on Sustainable Socio-Economic Transformation blueprint.

Government, he said, was also looking at other ways of raising the funds needed for the blueprint.

“I am considering the securitisation of our minerals because we noticed that there are foreign business people who come and buy claims.

They carry out geological surveys with the intention to sell those claims on the stock exchanges overseas. It is my hope that we get such claims so that we leverage our resources. There are several banks that have already indicated that they are willing to give us the money to carry out the geological surveys, so the ball is in our court,” he said.

Chinamasa said Government was also looking at mobilising funds from Zimbabweans living abroad.

“I am also looking at the Diaspora and see what value we can reap from our population that is outside. One of the considerations we have is that we float Diaspora bonds,” he said.

Meanwhile, 20 organisations and individuals walked away with awards for their investment contribution in the country.

Delta Corporation walked away with two awards while Hwange Colliery Company Limited won three awards. BAT Zimbabwe was the best in manufacturing while Masimba Holdings bagged the construction and construction services award with CBZ Holdings tops in the banking sector.

Other winners were Lake Harvest (Pvt) Ltd and Chengeta Safari Lodge. In the lifetime category, other winners included Turnall Holdings Limited, Standard Chartered Bank Limited, Tanganda Tea Company Limited, Meikles Africa Limited and Econet Wireless.

Companies which had notable corporate social responsibility projects were Econet, Zimplats and Tanganda while the green business award went to Nyaradzo Holdings.

ZIA recognition awards went to Savanna Tobacco (Pvt) Ltd, Hualong Construction (Pvt) Ltd, African Century Leasing Limited, Makomo Resources (Pvt) Ltd, Xiangbo (Pvt) Ltd, Lonrho Logistics (Rollex) and Chengeta Safari Lodge. The source country award and special recognition certificate went to the Chinese Embassy.



  • comment-avatar
    Tsuro Magen'a 10 years ago

    “I am also looking at the Diaspora and see what value we can reap from our population that is outside.”- “Our population” which population, today we are now “yours”…don’t waste your time we are not interested in sustaining a Mafia Organisation which steals elections and maims its people.

    Like it or not Cde, the solution of the country lies on this guy whom you cartoon day in day out. My advise before its too late is go to him by night and persuade him to come on board as the Vice President and form GNU 2. Ignore my advice at your peril….because this time we are really angry including “your” soldiers.

    • comment-avatar
      B.Mathe 10 years ago


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    nyashanu 10 years ago

    No foundation kkkkkk could it be the land reform or diamond revenue

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    Africanson 10 years ago

    Eish! We are in real trouble

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    Reap what u saw Chinamasa.the land is in troble u a nw talking of Fdi nw whn Biti ws telling u ,u said he ws talking Bul its u nw minister of finance repeating Biti’s words you are Stupid Mdc muchaidaidza mati madii u can steal elections bt nt the Economy munogara mudhishi chete muri varoyi vanoroya rakacheka nyika

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    Clive Sutherland 10 years ago

    The Diaspora were denied a vote, why should they bale out this corrupt Zanupf Government?

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    chimutengwende 10 years ago

    You shall cook the soil and have soveregnity as desert

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    Carlos Mangena 10 years ago

    When will Zimbabweans learn that LAND only becomes valuable as a factor of production and not just as SANGO/IGANGA.Where in the world have you ever seen farmers who are GIVEN inputs year in year out until they believe that it is their right to be supplied.This might sound funny but the assue here is that there is no policy in place and it is frightening to say the least.Chinamasa should be working within a policy framework but unfortunately there is none and he goes about asking for advice from whoever and what a joke this ZANU PF has been since 1980.

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    Tinomunamataishe 10 years ago

    Interesting to see that Chinamasa wants people when it suits him. Now they want FDI and then grab 51% from a venture they did not invest a single cent just because they are indigenous and indigenous refers to a very small clique of ZPF aligned people.

    Now also they want the Diaspora to sustain a regime that made sure that the same Diaspora did not vote and hence have a say. The Diaspora would be better advised to stay clear of a country where rules can be change on a whim to suit certain individuals.

    What Chinamasa and co. should know is that when it comes to foreign direct investment they are competing with other countries in the region that offer security and lots of other stuff and where rule of law is observed. There is nothing special anymore about Zim at the moment, they have destroyed all the things that gave Zim a competitive advantage in the past and other countries like Mozambique and Zambia have not only caught up but overtaken Chinamasa’s Zim. We can’t even mention Botswana.

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    If he worships false bogus criminal fraudsters like makandiwa then start digging your graves or else rise up like you did against rhodesia

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    China won a meaningless award as well. The criminal cabal vilified demeans diaspora and wants them to bail out zanupf comrades. Go…. Your mother

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    chirhilele 10 years ago

    damn we are in real trouble

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    Diego Zhaba 10 years ago

    Chinamasa zvaomaka, vakuru vanoti mashoko evakuru haawiri pasi. You are now facing the music, welcome Chinamasa to the world of economics, to the Minister of Finance that Biti worked so tirelessly against all-odds.
    The solutions you are advocating for are not at all the best, it’s a sign of desperation Chinamasa. We don’t want to go back to the bush to fight our own brothers and sisters like the situation obtaining in Mozambique. Kutaura chokwadi taneta, when you guys are busy lining your pockets muchiita jema newadya.

    You want to use the mineral resources as coleteral to lure investors ? That’s the worst thing to go for. You have destroyed the fabric of the Zim society through your unworkable policies and now the generations to come will be tied-up to this again? The economic sector is badly affected by corrupt people like you and all Mugabe’s henchmen who are busy looting the country’s resources. Tale stock of yourselves guys and if you have failed just leave and we get a performing team in office.

    The people in the diaspora have suffered enough, do you think they don’t want to enjoying life at home? It’s all because of your NAZI purging style that forced most of these people to leave the country and now maakuda kuvasvina again. Please give them a break.

    Your unharmonised policies that are contradictory will never bring the much needed foreign investors serve for the looting CHINESE. Waiwomesa tsinga dzemusoro when Tendai Biti was telling the truth about remmittances from the mining sector uchiti he belonged to MDC, remember when you hold that office you have to prove you can perform, if not be gentleman enough to leave which what all of you recycled Ministers should do. Sick and tired of rubbish.

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    kunaka 10 years ago


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    Jenandebvu 10 years ago

    The cortoonist chinamasses. Yu are a legal mini-cum- financial clown! Lol.

    Every company won an award of corpooorate performance, but the country is sinking

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    You can be one if you want

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    How does HCCL win three awards amidst all these things happening.

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    masvukupete 10 years ago

    Tinoda kujamba zvinhu. We should start from the basics and move up. We need to start looking at manufacturing basic items for our own consumption and then expand to exports. All successful economies are build on an export of finished goods no matter the ownership and and source of resources (raw materials).

    “South Korea’s oldest car company, Kia was founded on June 9, 1944 as a manufacturer of steel tubing and bicycle parts by hand – and has operated as one of the country’s Chaebols since then. In 1951 Kia began building complete bicycles.”

    And today Hyundai owns 33% of Kia with other shares being held by international companies such Ford and others, pension funds etc.

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    If those in the diaspora are regarded as non Zimbabweans during elections why are they expected to prop-up a government which doesn’t recognize their constituency ? who would guarantee those bonds Chinamasa is talking about? isn’t it time Zimbabwe fixes property rights ? Zanu can flout those bonds but no-one will take them up.
    the way forward is to form a government of national unity , establish the rule of law, forget about this 51% local ownership ,those in the diaspora may if they so wish buy into those companies ( again only if management is selected on merit not on partisan grounds)people would have jobs , pay taxes, reduce rampant corruption

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    Tafadzwa 10 years ago

    Before we can blame Chinamasa, lets remember the buck stops at Mugabe’s office. For all the corruption-tainted leaders in Zim, how come people seem to exclude Mugabe. There is a tendency to assume Mugabe is being misled by advisers, as if he is god.
    When Mugabe takes about 80 advisers to attend summit overseas and then fall asleep during the proceedings. The question is why does he always have the largest entourage among other leaders. The reason is to accumulate travel pocket money. All 80 plus travelers get advances from treasury. What duties do these 80 plus undertake ?

    My conclusion is Mugabe is the head looter. Obert Mpoful si an example of some untouchable because he knows more about how the looting has gone on. We now know , he Mugabe has the largest single farm in Zim. He has not questioned why diamond revenue is not reaching treasury because he knows the truth. He is benefiting from the looting. The proof lies in his refusing to address the issue.

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    msizeni silwelani 10 years ago

    Reducing the number of awards at an event gives it some semblance of competitiveness. But if every invited company walks away with an award that becomes nothing but cheap propaganda.

    Who still recalls diesel paChinhoyi? Recycling is better left for other sectors, some guys in Zanu pf are tired, expect nothing new from them, end. This time Chinamasa displayed deep arrogance not by him alone but also his looting counterparts. Simple it means, you know the state of affairs in Zimbabwe hence expect nothing from any Zanu minister. An insult to the electorate. In modern democracies, that is a reprimandable utterance.

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    Oldsoldier 10 years ago

    Chinamasa please wise up. With your age and experience you should be able to look around and see what is happening in other parts of the world. You do not grow the economy through cheap politics. You grabbed the land and gave it to people who know nothing about agriculture, only to turn around and start importing food the farmers you expelled produced in the country next door. Because the farmers are gone, the industry that depends on their produce are down. You want investors but you want to grab 51% of the investments of those already there. You are designating certain areas of the economy such as whole sale and retail trade as reserved for indigenes. All these are policies that do not attract economic growth. Economic growth comes with open door policy. China never started to grow until it adopted an open door policy. Today it is the number one leader in economic growth. Take a country like Dubai. How many people engaged in whole sale and retail trade in Dubai are indigenes of United Arab Emirate? Less than 1% if you care to know. Yet Dubai is presently one of the most economically buoyant places on earth today. It can actually maintain its growth now even without its oil, all because it opened its door to the world. Bury your fears, swallow your pride, curtail your greed and adopt an open door policy. The result will surprise you. Any other thing outside that is economic suicide by installment.

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    GURUNDORO 10 years ago

    You can rig the elections and not the economy.Ma policies enyu e Zanu haashandi.Involve the MDC T.