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Zimbabwe Business Executives Pushing For Long-Term Growth

  • Gibbs Dube

KM Financial Solutions Executive Kenias Mafukidze insists business will play a key role in boosting the economy which he notes has expanded at an average 9.2 percent rate since 2009

About 150 Zimbabwean business executives and government officials with economic responsibilities have gathered in the resort town of Victoria Falls to talk about building a US$100 billion national economy by 2040, from US$10 billion today.

Organizers Kenias Mafukidze Financial Solutions hope the summit will generate ideas on achieving 10 percent annual growth over the next 28 years.

But critics said the exclusion of civil society organizations and other components of Zimbabwean economic life, combined with political uncertainty, assure failure.

But KM Financial Solutions Executive Kenias Mafukidze insists business will play a key role in boosting the economy which he notes has expanded at an average 9.2 percent rate since 2009 - though from an extremely low base after a 2008 collapse.

Business Council of Zimbabwe Chairman David Govere said Zimbabwe must effect change if it is to achieve steady 10 percent growth. "Indications are that we have to tackle our high-risk profile if we [are] to attain the set goals," said Govere.

But political analyst Nkululeko Sibanda said the objective of high long-term growth cannot be achieved if only business is involved.

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