Mnangagwa’s cabinet not good with decisions: Cross

Mnangagwa’s cabinet not good with decisions: Cross

Economist Eddie Cross says Cabinet is poor at making decisions and is happy that President Emmerson Mnangagwa has been stepping in.

Cross was speaking during an interview on why government preaches import substitution and yet it continues to import cars.

Zimbabwe has companies that are assembling vehicles but the government which is the biggest buyer of cars prefer to import.

This has seen reduced capacity utilisation in those assembling companies which also translate to less employment opportunities.

Unemployment is said to be hovering around 85 to 90% in Zimbabwe with most people turning to vending.

Cross who also advises the RBZ said what is needed are decisions but the cabinet is not good at that.

“It needs a decision and I am glad to see the President starting to make decisions because his Cabinet isn’t a good decision making body.

“And like with the auction it was the President who made the decision it wasn’t the line minister.

“It was the President and he called in the governor and he gave an instruction and we had the auction in a week.

“That is the kind of executive action that we need in our country today to get us on our feet…,” he said

State of Industry in Zimbabwe

According to Cross, most of the industry’s capacity is lying idle and that most companies are now manufacturing museums.

He said there was need to bring in new equipment to improve efficiency and skill in most companies.

Companies have been failing to retool due to lack of lines of credit as well as short tenure of loans.

Banks are unwilling to lend on long term, as they claim most of the money is on call.

According to banks most of the deposits are salaries and account holders usual dont leave anything in their accounts.

Zimbabweans don’t trust the country’s financial systems after losing their money on two occasions with no compensation.

Mnangagwa’s cabinet not good with decisions: Cross

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