Harare — Zimbabwe has been hailed for making significant headway internationally towards the registration of private property, an improvement that is largely considered indicative of growing industrialisation.
Zambian industrialist and president of the Zambia Association of Chambers of Commerce and Industry Mr Hanson Sindowe said that Zimbabwe has achieved a level of economic development comparable to most sub-Saharan African countries and was poised for steady economic growth as signified by the current high levels of property registration.
"Zimbabwe is an appropriate model for achieving economic stability because the dynamics from underdevelopment to development in this country are readily apparent. Of note is that Zimbabwe made improvements on the doing business ranking from 160 in 2009 to 159 in 2010.
"I must mention here that Zimbabwe scored highly in registering property. There is a positive correlation between owning property and wealth creation.
"This country's economic system is one indicative of a transitional country, a country making the transition from dependency underdevelopment to self-reliant industrialisation," he said.
Property is a long-term investment where an investor does not normally expect return in the short-run. Property registration is important to the extent that it offers the investor security on a long-standing basis, as investors who expect capital growth tend to buy properties with the anticipation that prices will levitate in the future.
Mr Sindowe intimated on the need for infrastructural development, and also said that a growth in property development in the country would additionally benefit small businesses as they could leverage their properties in efforts to access loans from banks or alternative multi-lateral lending organisations.
"Property ownership will especially avail the micro, small and medium enterprises collateral to borrow to start businesses and indeed enhance production. This can lead to a broad-based development, which is one of the factors that underpin sustainable growth.
"Infrastructure is critical to the growth of the Zimbabwean economy. Sound infrastructure for moving goods around Africa is absolutely vital for businesses and investors.
"It is good to note that Zimbabwe has adequate internal transportation and electrical power networks.
"However, there is need to ensure that all economic infrastructure is brought to a level that will attract and support investment in the country," he said.
Although the liquidity crunch prevalent in Zimbabwe at the moment has stagnated property development especially in terms of private properties, the Government has invested about US$100 million of the country's US$512.3 million of the country's International Monetary Fund Special Drawing Rights allocation mostly to infrastructure development.
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"Of note is that Zimbabwe made improvements on the doing business ranking from 160 in 2009 to 159 in 2010."
Gee, what a great improvement!
The article forgot to mentioned that it stands at 159 our of 183 country http://www.doingbusiness.org/economyrankings
And Zambia is a much better place for business since it stands at 90.
Zimbabwes economic freedom index stands at 178...just before North Korea.
http://www.heritage.org/index/ranking.aspx
Gegene, it looks like you are a Zimbabwean critic, which is fine by me.But if people in SADC praise Zimbabweans for making improvement why does that bother you! why do white minorities in Africa want to be the critics, all that colonial behaviour, at least give us some credit! For you, a good Zimbabwe is one where by 80% of land is owned by white minorities and businesses and golf clubs are owned by whites. That to me a native Zimbabwean is a slave ship.
I would rather be poor than live in a banana republic run by a small undemocratic white dictatotors, which is what Zimbabwe used to be!.
Phiri, that was 30 years ago! Now you live in a banana republic ruled by a small black dictator! The point is that Maggot has blown his chance to pull the country up, and has in fact pulled the country down. It has nothing to do with the color of anyone's skin! He's failed and Zimbabwe's failed.
Phiri if you say being a Zimbabwean critic "is fine by me" then why not read their criticism and leave it at that? If what the Herald says is taken with a grain of salt then that is not considered "criticism" because the Herald is a Mugabe mouth-piece, meaning it says only what Mugabe wants it to say and who wants to hear that crap? You know that too.
Flippin' Norah, Zim has improved by one standing? Not too bad for 30 years i suppose, but when the country was given indapendence in 1980, it was in the top 50, Even up until 1990 it was a lot better than now. Any improvement is welcome yes, but i know the improvement would be a lot better if Bob would keep his nose and hands out of Private business. But just the other day Bob was saying he is threatening to close 7000 foreign owned firms. I would say do that at your peril Bob because then no international compony would want to set up in Zim to help the people. You wanted it all Bob, well you have it, and it's all messed up thanks to your policies.
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