TelOne boss pleads with US to spare private sector sanctions
By Staff reporter | 11 May 2019 at 15:26hrs
TELONE managing director, Chipo Mutasa has pleaded with the US government to seriously consider opening up lines of credit to the private sector in Zimbabwe as it has shown huge potential to boost economic growth and create jobs.
Mutasa was speaking at a US organised public discussion on the state of Zimbabwe's economic recovery Monday.
She urged President Donald Trump's administration to separate political issues from business.
"Surely, the private sector cannot be punished for issues related to political reforms, at a time when it is demonstrating capacity to be able to be entrusted with a few more resources, which can then be channelled to better productivity and employment creation.
"There is a working private sector in Zimbabwe, hence the need for the United States to consider opening up lines of credit directly accessible by the private sector. I think that would really go a long way towards revitalising our economy and creating the much-needed foreign currency," Mutasa said.
The TelOne boss said lack of access to lines of credit was hampering productivity in the private sector.
"Zimbabwe is endowed with over 60 minerals but currently concentrating on less than five. So much can still happen as the nation has potential.
"Most companies are reporting their financial performances for the period ending December 31 2018 and despite the current challenges we are facing including currency issues, the performance is amazing," said Mutasa.
She added that allowing businesses to grow can lead to the broadening of the tax base and in turn may come as a great relief to citizens groaning under the weight of the crisis.
Mutasa also called on Zimbabweans to consider changing their spending patterns in order to navigate the treacherous economic terrain.