I was saddened yesterday when viewing issues on Africa issued by BBC news that we do not have any real stories of Hope left on the continent. Gone are the days when we had leaders like Mandela issuing any proclamations for us the youth to follow. I was amazed by comments that Zambia and Malaysia attained independence at the same time but who is more developed now? why? Just a question?
What is the value we create? That is the issue to the new Zimbabwean economic reality. This question must be asked everyday, in every household and every sector of the economy. We cannot as a nation go forward without that. By adopting the multi-currency regime in Zimbabwe we effectively removed any ability to improve our competitiveness by manipulating exchange rates. This has been the trick that African economies have been using to essentially "protect" the economy. These policies have, in my opinion, kept our countries only competitive in the primary and extractive industries. This is why when we look at GDP growth in Africa, much of our economy as a continent is dependent on FDIs (Foriegn Direct Investment) and export of raw materials. I need to note that I am in no way against the tenets of FDI and export of Raw Materials, it must not be in the long term economic policy of a country to focus on that alone. Remember that today's FDI becomes tomorrow's divi...
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