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that some Zimbabweans could soon join the list of the world’s richest.
This is not wishful thinking but it’s a probability that could become real soon.
Indications are that Asia, which was almost a forgotten territory about two decades ago as it tithered on the brink of total economic collapse, has risen to the occasion to produce the bulk of the richest people in the world.
China, India, Russia and Brazil produced 108 of the 214 new billionaires, while one in four of those on the list are from these four nations, up from one in 10 five years ago.
Before this year only the United States of America had managed to produce 100 billionaires but times are changing.
The Asia-Pacific region is now home to 332 billionaires, up from 130 at the height of the global financial meltdown in 2009 notably Lakshmi Mittal and Mukesh Ambani from India.
What could be attributed to such a jump?
What has made this region so powerful economically over a short space of time?
What are the secrets behind this that here in Africa or Zimbabwe in particular are not aware of?
If the Asian tigers could achieve such a feat, what could stop us here from doing the same?
These are questions that have been going through my mind as I ponder on the recently released list of world billionaires.
The results from the survey and researches done in compiling the new list reflect the shift in economic power that has become more apparent in the last few years.
Asian countries are catapulting previous economic powerhouses like there is no tomorrow.
China and India are leading the pack in the transformation processes. Their economies have been growing by an average 10 percent and there is no stopping them.
Even the global economic crisis, which shook big economies such as the USA, could not interfere with the phenomenal growth being experienced by most Asian economies.
Their own crisis of the 1990s left them stronger and we don’t know what it will take to shake them again.
These economies keep changing rankings and setting new world records in most spheres making it common knowledge now that these countries and their nationals will top the list in any competition, particularly on the economic front.
What work culture can we adopt from these countries. What strategies have they implemented to churn out so many billionaires in such a short space of time?
Some of the attributes we have noted over the years are that:
l Changing their traditional ways of doing business. China for instance, has gradually moved from a communist command economy to a more liberalised market-driven model.
l Most of the Asian countries have leveraged on their high population which have become a major drawcard to investors in terms of market-size and a cheaper source of labour. China has become the world’s big factory as a result.
l Work Ethos-Asians, I have experienced first hand, are hardworking and will not rest until they achieve set targets and beyond. Perhaps for them, there is not enough hours in a day.
l Involvement of all stakeholders, particularly business, in crafting policies.
l These economies have also invented and invested in technology, making business more efficient and effective.
l Political stability in most of the Asian countries has also worked in their favour.
China, for instance, is not necessarily a democracy but their model is friendly to investors both domestic and foreign.
l Development of rural economies, particularly agriculture has had a huge impact on overall growth.
Director of the China Growth Centre at Oxford University Dr Linda Yi-Chuang said internally-conceived ideas and business strategies helped propel China’s economy.
Speaking at last year’s CEO Roundtable conference hosted by KM Financial Solutions, she said such countries as Zimbabwe had the wherewithal to achieve double-digit growth provided it adopts business-friendly policies.
She said for China and other Asian countries, transformation of rural agriculture and the development of rural industries was one of the pillars for economic growth while parastatal reform and the adoption of an open-door policy in terms investment and addressing investor concerns have seen China grow in leaps and bounds.
Chinese companies have largely insisted on joint ventures to facilitate the transfer of skills and technology.
Another key ingredient has been zero-tolerance of corruption.
Such deliberate efforts to transform their economies have seen the Asian giants achieve so much they now influence global economic matrix.
Zimbabwe could draw lessons to facilitate rapid economic growth, and with it, the creation of billionaires.
Presently we are aware of the general wealth levels of individuals in this country but they have never been too free to release information. But that will change once real wealth is created. My hunch tells me we may even have a few filthy rich guys around.
They just do not want to publicly declare their status even in instances where they do not have to state whether the wealth was acquired through decent means or clandestinely.
I know as a paper we tried several times to get these rich guys to tell us how much they own but most of them have given us a straight no! It’s not necessarily out of humility but somehow they would rather not have the public know how much they have.
In some instances I can understand them because once such information is released, a whole queue of friends, relatives, acquaintances and former school mates would be by their doorstep the next morning seeking help in one form or the other.
Some of these relations may be overbearing but there is certainly no harm in extending a fishing rod to you kith and kin.
Let’s all set out to become the billionaires that we are supposed to be and take our country to the grand stage. If they did it, we can do it too.
Coming to think of it we have all been billionaires at some point. Infact, in 2008 we were all sextillionaires.
Of course it was not necessarily in US dollar terms but in our very own currency we amassed so much money in so short space of time.
I remember when the multiple currency system was introduced my younger son still thought mum was a sextillionaire in US dollars.
Just imagine!
We tasted so much money those days (though it was valueless the next day) but at least we have been there.
Therefore, raising billionaires in this country may not be such a difficult feat.
Let’s continue to work at it. We will get there just in the same manner the Asians have done it.
This demands hard work and adherence to the proper systems of amassing wealth.
In God I Trust!
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