Story by Yolanda Moyo
ZIMBABWE’S proposed Economic Empowerment Bill has received massive support with stakeholders confident it will create business opportunities for all citizens.
Stakeholders converged for a consultative meeting on the proposed Economic Empowerment Bill in Bulawayo where the focus was on creating a more inclusive and dynamic business landscape in Zimbabwe.
“Unlike the previous legislation, this bill emphasises partnership between foreign investors and local communities. This fosters trust and creates a win-win situation for all parties involved. The focus is no longer on forced ownership structures, but on creating an environment where Zimbabweans can thrive and compete,” said Lupane State University Dean of Commerce, Dr Sibongile Manzini.
Chamber of SME’s Coordinator Mr Nketa Dlamini weighed in, “Many SMEs struggle to secure loans. The bill’s focus on financial inclusion will be a game-changer for us. This bill recognizes the crucial role SMEs play in our economy and provides them with the tools they need to thrive.”
Zimbabwe Congress of Trade Unions Western Region Chairperson, Mr Ambrose Sibindi highlighted that the Bill fosters a sense of purpose among employees.
“The emphasis on employee share ownership schemes within the bill is a welcome development. It fosters a sense of ownership among employees, potentially leading to increased productivity and improved working conditions,” he said.
Economists weighed in on the broader economic impact.
“The bill has the potential to redistribute wealth and empower marginalised communities. The key lies in ensuring the itl fosters a business-friendly environment that attracts investment alongside empowering locals This capacitation enables ordinary citizens to defectively participate as economic citizens and this goes a long way reducing poverty consistent with the SDG’s and the National Development Strategy One. Giving them an opportunity to be owners of the means of production will go all the way in cultivating patriotism within Zimbabweans, creating a sense of belonging,” said economic analyst, Mr Stevenson Dlamini.
Another economic analyst Dr Sarudzai Simango noted, “If implemented effectively, the Economic Empowerment Bill could usher in a new era of economic growth and prosperity for all Zimbabweans. This will be a turning point in line with the ‘Zimbabwe is Open for Business’ mantra, giving investors a sense of ownership and confidence to invest into Zimbabwe.
The Economic Empowerment Bill remains work in progress. Public discourse and careful consideration of stakeholder concerns will be crucial in shaping legislation that empowers Zimbabweans and strengthens the economy.
