Business Development

Zimbabwe’s Davos trip: an eye opener for strategic engagements

President Mnangagwa engaging global leaders at World Economic Forum

By Tinashe Eric Muzamhindo

The participation of Zimbabwe in this high-level event will drag this country to come out of a debilitating economic quagmire. The World Economic Forum (WEF) has proved to be a platform to consolidate the financial and political capital which is necessary for economic growth.

The appetite for politicizing everything must be eroded and we must develop a new culture of thinking. It’s high time we must converge as a nation to deploy strategic thinking around the current trajectory, using solution-focused thinking. Precisely, the Davos trip came at a time when Zimbabwe is looking forward to doing business and strategic engagements with potential investors.

The President of the Republic of Zimbabwe is the Chief Marketing Officer. He is the face of the country. It is very critical for him to engage with potential investors at such levels. The Davos trip is an important event for decision-makers from different societies to collaborate on ideas for Economic Development.

Previously, Zimbabwe was excluded from such platforms, and it is important for the country to regain trust and consciousness for strategic development. We should not focus on the past. We must take this opportunity as a nation, collectively to converge on ideas for economic progress.

Solutions must be homegrown using local content. We may differ politically, but on the Davos trip, it is important for all political and economic players to come together to build Zimbabwe. Let’s utilize such opportunities to bring development to Zimbabwe. The country’s participation in such a high-level platform creates an opportunity to market the country using Strategic Thinking.

It addresses the inequalities through the domestication of ideas and policy choices that further drive out poverty. Zimbabwe’s participation in World Economic Forum will be driven by the need to attract Foreign Direct Investment ( FDI). Zimbabwe is in need of FDI to ease the burden of cash, create employment, expand local and foreign markets, deal with local and foreign debt, and improve the infrastructure development agenda.

The exchange of notes at high-level engagements further improves networking and some semblance of acceptance on international platforms. The agenda of foreign engagements must be supported by all economic players throughout the country. Participation in this meeting helps the Government of Zimbabwe to receive high-level recognition. This will help to bury our political difference and forge an alliance for economic growth. I’m sure, meeting people like Kagame, Ramaphosa, EU and many other players will help the team to exchange notes and develop a proper Economic Recovery framework using Strategic Thinking. The Davos trip is a culmination of policy and Economic decisions using the platform to access strategy, proper engagements, and tremendous progress on key fundamentals to turn around the economy.

However, the President and team must take note of:

1. Quality of investors who might want to do business with Zimbabwe

2. There is a need for proper research and development before engaging the potential investors

3. Revision of the Investment policy

4. The inclusion of the business sector is critical in decision making and national development

5. Restructuring framework for the debt obligation

6. The Government must domesticate the theme which resonates well with the huge public trust deficit in Zimbabwe

7. It is time to realign Zimbabwe open for business mantra, with a proper Economic – Development Recovery framework agenda

8. The fight against inequalities between the rich and the poor

9. This will help Zimbabwe to come out of the debilitating economic quagmire

10. Work on Institutional and microeconomic reforms

11. Erode corruption both in the private and public sector

12. Investor confidence is key to National Development

13. Cutting expenditure

14. Redirecting expenditure to the main critical of the economy

15. Refined Advisory team for the President is critical

16. President needs a Think Tank which must be a reservoir for feeding into key decision-making processes.

About the author

Byron Adonis Mutingwende