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Godknows Ncube
AS Zimbabwe and the whole world feel the economic impact of Covid-19, there is a need to open businesses in a very carefully calculated manner.

A successful vaccine or cure for the deadly pandemic may not be developed and be in place in the short term, as has been highlighted by the World Health Organosation (WHO). As such Government and the business community will need to have concrete measures in place to manage the risk of infections and avert economic collapse.

It is a fact that our economy is already feeling the bitter impact.

There is a need to ease lockdown measures, which is a very complex phase that demands strong leadership and calculated steps by Government, backed by strong scientific and economic advice.

The success of these measures must be driven by practicalities on the ground and buttressed by strong liquidity support for public and private sector operations, a strong health system, zero tolerance and elimination of corruption and effective monitoring and evaluation.

As a developing country we need to accept that the world had suddenly changed and Zimbabwe needs to manage its little resources wisely. The little reserves we have as a nation, together with related business savings should be invested wisely into capital expenditure that will see Zimbabwe being able to stand on her feet across all sectors. We cannot depend on other countries for imports of basic commodities for ever.

We need to increase our domestic capacity and substitute imports in a strong way.

This emphasises the need to add value to most of our primary products such as tobacco, minerals and farm produce. The country also needs strong reforms across sectors with a bias on revamping the business, health and education sectors to be hinged on modern technology.

Technology solutions have proved to be highly effective under lockdown and those firms with bias on technology are actually making a killing out of Covid-19 opportunities.

There is also a need to have a database of the unemployed with those who lost their jobs or incomes recorded separately as they need to be managed and wisely assisted as part of opening our economy under partial lockdown. Funds and aid should be planned for the unemployed so as to manage unnecessary movement and street vending. Such social focus will go a long way.

On the other hand, our businesses should view Covid-19 threats as opportunity for lucrative ventures and innovation. Already indications are that Covid-19 had created wider supply gaps within the region, which puts Zimbwbwean producers on spotlight to grab the limelight and supply regional markets. Building our economy must be founded on these strong points and these will of course require the participation of the private sector leaders.

In the 20th Century, Americans, for instance, took bold initiatives by raising own funds and building robust enterprises. These are the enterprises that changed not only the future of the United States but the entire world. They constructed roads, railway systems and rolled out many inventions that illuminated the world till today.

Given our wide small to medium scale enterprises base and skilled manpower, Zimbabwe has the potential to grow her economy and withstand the impact of Covid-19 and beyond. When we increase national income tax and eliminate budget and trade deficits, then every citizen can be served with a better plate in turn.

Godknows Ncube is an accounts graduate, internal auditor based in Bulawayo and a member of the Association of Chartered Certified Accountants (ACCA). He can be contacted on 0773675191 for feedback.