Finding a Balance between Substantive Equality and Sustainable Economic Growth: A Zimbabwean Perspective Compared To Other Countries

Charity Mhaka, Lilian Nyamwanza and Fainos Makaza

Journal of Social Economics, 2015, vol. 2, issue 1, 16-24

Abstract: Purpose: the paper seeks to establish if substantive equality has an impact on economic growth. The paper shall draw comparisons from other countries in Africa which have substantive equality programmes that were designed as tools for economic growth. Such countries include South Africa’s BBBEE, Zambia’s CEE, Botswana’s CEP and Nigeria’s NEPD. Methodology: The paper used a qualitative approach used on ten top managers/directors at the ministry of Mines, Ministry of finance, Ministry of Lands and ZMDC. So as at to establish a holistic view on the nation’s economic growth in light of the Indigenisation policy. Findings: The findings of the research indicate that the foreign direct investment (FDIs) is on the decline, there is an increase in unused allocated land, mines and companies are operating on average below 35% utilisation capacity. It was also established that the economy as a whole is shrinking and liquidity constraints riddle the country. Practical implications: It was also recommended that though substantive equality is key to redress imbalance inherited from the colonial era it is equally important to have a follow up mechanism to repossess idle land, mines and companies so that these become viable to drive economic growth. It was recommended that the Indigenisation Act should be revisited to allow the percentage of foreign ownership to vary according to industry so as to tailor make conducive environment for investors to direct their investment in Zimbabwe.

Keywords: substantive equality; sustainable economic growth; Indigenisation Act; imbalance; redress (search for similar items in EconPapers)
Date: 2015
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