An investor has praised Zimbabwe’s workforce for delivering significant results under the current conditions in the country during an accounting conference in Harare.
Mr Patel, a Zimbabwean born investor operating in the United Kingdom gave an example of how Old Mutual Zimbabwe has produced positive results during a presentation on “Zimbabwe is open for business” mantra.
“Outside South Africa, Zimbabwe under the leadership of Jonas Mushosho, Old Mutual has delivered over 60 percent of the delivered results across Africa, but the statement that got stuck with me was that here is a country that is on its knees, there is liquidity crisis, as well significant sanctions against various aspects of the country, and get it right to deliver significant results,” Patel said.
“Imagine what the management team is capable of under the right circumstances.” he added.
Although Zimbabwe has a workforce that is capable of producing significant results, the performance of the public sector which the world is watching according to the investor seems to be painting a negative picture for the Zimbabwean workers.
“The world does not know about us, all they see is the history of the public service by the government, what they don’t see is the quality of organisations. An example was Old Mutual last year, as they migrate to become Old Mutual Africa. There was a very key statement made since on my wall in my office in London,” said Patel.
“I think its very significant. It is something that I think each one of you should take credit of.”
Thirty-eight out of 93 state-owned enterprises audited in 2016 had a combined loss of $270 million due to weak corporate governance practices and ineffective control mechanisms.
Zimbabwe’s workforce is one of the reasons why investors have to consider the African country for investment according to analysts
Analysts, including the Havard Business Review, earlier this year praised Zimbabwe’s workforce stating that the capability of the country’s staff as a reason for investing in Africa’s landlocked nation.
Minister of Mines and Mining Development, Winston Chitando is also on record telling investors that Zimbabwe has natural and labour resource but lacks capital for exploration.