Zimbabwe should embrace entrepreneurship development for major survival and economic growth
By Tinashe Muzamhindo
We have no option for economic turnaround as Zimbabweans except to go for entrepreneurship skills and ideas. We need to be moderate and be level headed in terms of the way we embrace and approach economic views. No one can bring us out of poverty except ourselves. We need to be hard working and increase innovation and creativity.
Zimbabweans are now known in the region and beyond for importing luxurious and cheap products instead of having our own brands and ideas. We should embrace Government ideas of black economic empowerment. The levels of poverty in this country have reached unprecedented crisis, and the unemployment rate has gone up to 96.5%.
Most Zimbabweans have resorted to vending and criminal activities instead of embracing new ideas in the market such as shoe making, manufacturing products such sofas etc. Entrepreneurship is the art of creating or developing a business through innovation, creativity, progressive imagination and risk taking initiative, or Entrepreneurship is the art identifying viable business opportunities and mobilizing resources to convert those opportunities into a successful enterprise through creativity, innovation, risk taking and progress imagination.
The key words in most definitions are; Art, development, innovation, creativity, progressive imagination and risk taking. Entrepreneurship is premised on the understanding that ideas are more important than MONEY. An entrepreneur without any money at all, will use ideas and/or his progressive imagination to make money, whilst a person with huge sums of money but without sound entrepreneurial ideas will eventually misuse or lose that money.
BLACK ECONOMIC EMPOWERMENT
The government of Zimbabwe came with a very good idea of black economic empowerment which saw the rising of Strive Masiyiwa, Philip Chiyangwa, Peter Pamire, Nigel Chanakira, Tawanda Nyambirai, Shingirai Munyeza and many others. Bringing good policies for black empowerment is a major achievement in the economic sector.
What the Government of Zimbabwe should do is to promote young people particularly locals when issuing tenders, there must be a certain percentage which must be reserved for the locals’ in order to promote local entrepreneurs.
We encourage banks to relax some stiffer conditions, and at the same time provide loans and overdrafts for local business people so that they can promote young people. We have so many potential young people in Zimbabweans if provided opportunities they can do very well in the domestic market.
Our production levels are so pathetic and we need to do something about our industry. The domestic policies for economic growth are in shambles and we are in the negative because of our policies. As we speak more than 35% of workers have lost their jobs because of these policies. Zimbabwe is importing and this has affected our balance of payments.
We need 10.5 billion United States dollar as kick start for economic recovery. There is need for economic recovery plan and there is need to be plan B for economic plan. Industry is literary dead. Government must revisit their economic blue print and plan in order to attract foreign direct investment. If proper policies are put in place for entrepreneurs, the major drivers of the economic growth will be young and fresh entrepreneurs in the market.
We have a serious challenge as a nation in terms of the high unemployment rate in this country. Most people have resorted to vending and criminal activities in the country. Entrepreneurship can be a very good idea for the nation. Instead of fighting with each as citizens of the beloved country there is need for all stakeholders of Zimbabwe to come together, embrace good ideas of entrepreneurship and promote local growth.
Imagine if we had more than 8000 companies being opened by local young people, Government providing something like 150 million this country would go a long way on the issue of economic recovery. We have so many potential young people on the market instead of searching for employment they can create employment on their own and also create employment for others, and this can boost revenue for the beloved nation.
GOVERNMENT MUST PARTNER WITH DONOR COMMUNITY AND OTHER STAKEHOLDERS FOR ECONOMIC GROWTH
We encourage government to craft favourable domestic policies which promote entrepreneurship skills and enhance development. There are so many multi-lateral corporations which can lend Zimbabwe and private sector funding for economic growth. There is great potential within our youth force if proper policies are adopted.
Most companies in the private sector have a great potential, thereby increasing productivity levels and at the same time, create employment and also increase revenue inflows in the country. There is need to consider the plight of young and moderate entrepreneurs who should not abuse funds, for funding and credit lines.
Tinashe Eric Muzamhindo writes in his personal opinion as the Director of Mentorship Institute of National Development and Sustainability. MINDS is a civic society organization responsible for policy research, gender and development studies, public finance, sustainable development through Agriculture and rural development. He is also a consultant in Development and Capacity Development and Institutional Building. He can be contacted at greatorm[email protected]