This piece is by Mutemwa Ushewokunze, described as Vice President for Institutional Sales at a global investment banking and diversified financial services company headquartered in Australia, first published on his own page.
Our regular contributor, Eddie Cross described it as "an exceptional summary of the crisis facing Zimbabwe today." We agree with his view that a serious political, economic and social crisis is now truly staring us in the face and that real change for growth can only come from both local and foreign elements, giving a fresh political policy thrust that builds a competent and actionable government which is interested in the welfare of the people - ed.
Zimbabwe: Dire is an Understatement
The bull in me has taken its leave. The domestic economic situation in Zimbabwe is beyond dire. Structural unemployment (approx 90%) and non-existent growth (1-2% likely to be revised down) are the consequences of economic mismanagement and lack of policy formation.
With three cabinet reshuffles in nine months, and almost $200m (of a $3.1b budget) being spent on the President’s Office since the beginning of the year, combined with wages at 80% of expenditure, it’s a wonder that there are some who are looking past the risk and still investing in Zimbabwe.