Key lessons on the Ease of doing business can be drawn from Rwanda, a country ranked number two, after Mauritius, in the Ease of doing business rankings in Africa. This follows the business mission to Rwanda trip in which the Zimbabwe National Chamber of Commerce (ZNCC) partnered Investment Access Group (IAG), and led a business delegation to Rwanda from 23 to26 January 2018.
1) Towards the end of last year, prices of basic commodities rose sharply, and thereafter, there were engagements between government, retailers, consumers and manufacturers. What was the outcome of those engagements?
Women-owned businesses are growing at twice the rate of all businesses and have done so for nearly two decades. Women business owners are optimistic about the future and almost all business women in Zimbabwe plan to grow their businesses over the next three to five years. It makes good business sense for the community to support these firms by providing knowledge, skills and tools for their growth and above all sustainable markets for their products.
The Zimbabwe National Chamber of Commerce (ZNCC) in partnership with Investment Access Group (IAG) led a business delegation to Rwanda from the 23rd to the 26th January 2018. The purpose of the trip was to scout for business opportunities for Zimbabwe in Rwanda .
The 3 day trade mission to Rwanda, saw the delegation engaging in Business-to-Business meetings with different key business stakeholders that shared relevant information, experiences and areas of synergies between Rwanda and Zimbabwe.
The head of delegation comprised of ZNCC president Dr Ndhlukula, ZNCC Harare Branch Chairperson Mr. Archie Dongo, ZNCC Harare Branch Vice Chairperson Mr. Mike Kamungeremu and ZNCC Chief Executive Officer Mr. Christopher Mugaga.
Different sectors of Zimbabwe’s Business Community were represented including Reserve Bank of Zimbabwe and Ministry of Industry and Commerce.
The scope of this mission, which will take place in Rome and Milan on the 21 and 22 February 2018, is to provide a platform for Zimbabwean Institutions and businesses, from which to present investment and commercial opportunities to Italian businessmen, as well as to understand what may be required to facilitate the successful cooperation between Italian and Zimbabwean businesses.
Italy has the third largest nominal GDP in the Eurozone and the eighth largest in the world. It is also a founding and leading member of the European Union and the member of numerous international institutions.
The Italian economy is driven, in large part, by the manufacture of high-quality machinery and consumer goods produced by small and medium-sized enterprises, many of them family owned. Italy is a G7 country and is Europe's second largest manufacturing economy and the seventh largest worldwide.
Apart from its recognized footprint in the infrastructure industry (construction of dams, roads and railways), Italy boasts expertise and cutting edge technology in a variety of other sectors, particularly in agricultural machinery, food processing and packaging. Italy is the sixth largest importer of agricultural products in the European Union.
The mission will focus primarily on the sectors which present the greatest potential for collaboration, such as agriculture and agricultural mechanization (including horticulture, packaging, food processing and irrigation), infrastructure including transport, water and energy (both traditional and renewable energy) as well as mining equipment. Its objective is to become acquainted with potential Italian partners in investment and trade and to inform them of the opportunities and challenges that characterize the Zimbabwean economy at this moment in time.
The list of participants will include representatives of Zimbabwean institutions tasked with promoting business with international partners as well as leading entrepreneurs, major financial institutions and other relevant Zimbabwean authorities.
Participants are required to cover all their own expenses.
The private sector business community acknowledges and welcomes the recent Government interventions to reduce excise duty on petrol and diesel by 6.5 cents and 7 cents respectively. In this regard, the private sector business community affirms its commitment to pass on to consumers its resultant cost savings in production and distribution of basic commodities.
ZNCC is established for the purpose of developing, promoting, and lobbying for its members and the local business community through advancing economic progress, the creation of good climate for business to prosper, developing innovative business entrepreneurship spirit. The Chamber’s focus is on identifying, promoting and servicing the interests and needs of the membership. As a result the Chamber continues to provide services designed to support members in business development representing the interests of its members through lobbying, collaboration and facilitation.
On the drive to equip business with development opportunities ZNCC theme for 2018 is “Enterprise Development, Corporate Entrepreneurship and Sustainable Growth.” The Chamber is embarking on the drive to help create sustainable businesses which grow and lead to job creation, which in turn contributes to sustainable economic growth. This is a priority as this will result in the provision of opportunities for local entrepreneurs. The chamber will also continue to provide a focus on business empowerment as the engine for economic growth and encouraging competitiveness through the promotion or organised business communities.
ZNCC will facilitate firms’ efforts to innovate constantly so that existing small businesses can be competitive both on the domestic and international markets. The Chamber continues to work with stakeholders from the industry, academia, trade associations and unions, to identify future growth clusters and develop economic strategies to position Zimbabwe and Zimbabweans well for the future.
The new normal economy has been chararcterised by the emergence of the informal sector hence the chamber will come up with capacity development and training initiatives. This will see the chamber hosting a Youth Indaba as part of capacity development during the 2018 first quarter.
The current economic environment cannot absorb all the youth and this has led to the proliferation of the informal sector which has absorbed most young people as agents and dealers. The youth summit will focus on the development and implementation of policies that create youth employment practice that appear to be required in order to ensure social, economic and ecological viability and well-being, now and into the long-term future.
The summit will help build a youth generation which is environmentally conscious in their business approach - to limit on environmental pollution and land degradation whilst embracing corporate social responsibility and also to empower the youth so that they become active participants of the social and economic development.
The other objective of the Youth Indaba is to identify gaps which need to be addressed so that youths can aid to the economy in line with promoting sustained and inclusive Economic Growth, with productive employment and decent work for all by providing guidance and addressing the skills gap with a focus on long-term sustainability.
The summit will help bring sustainable development embedded in the hearts of the youth entrepreneurs with the communal benefit and accelerated positive effect, sufficient for a breakthrough towards an economically secure, ecologically stable and socially just world.
Partnership opportunities are available for the summit and members of the business community are being invited to partner with the Chamber to make this event a success.
For more information and enquiries contact the ZNCC offices on:
ZNCC NATIONAL OFFICE
5th Floor Zambia House
48 Kwame Nkrumah Avenue
Tel: +263 293 55 30|1/ 770244
The Minister of Finance Hon Patrick Chinamasa presented the 2018 National Budget under the theme “New Economic Order” on 8 December 2017. The presentation came at a time when previous budgets have been recognizable but failed to provide substantive policy commendation.