Striking Marikana miners. SA's mining turbulence is not advancing Africa's cause, says Morgan Tsvangirai. (Picture: AFP)
Harare - Zimbabwe’s Prime Minister Morgan Tsvangirai has said the recent political resolution of the constitutional impasse may create a basis for the country’s economy to take off.
In an interview with Bloomberg, Tsvangirai said the first four years of the coalition government was meant to stabilise the economy, which has been achieved.
“Now is the time to move to the growth phase,” he said. He added that Zimbabwe cannot continue to have an economy with no infrastructure, while at the same time agriculture has not been revived.
He said the country’s economic growth in 2013 will be around 5% but will grow to double digits once the economy reaches a certain equilibrium.
Tsvangirai said the country’s external debt of US$10bn is something “we can deal with.”
“We have got the resources if they are put to good use in a transparent and accountable manner,” he said.
Tsvangirai said the newly established sovereign wealth fund is an important strategy meant to deal with immediate national issues and create conditions for future generations.
Commenting on South Africa’s conflict with Anglo American [JSE:AGL] and other international mining houses, Tsvangirai said: “Africa needs more investments and more confidence rather than undermining it.
"As Zimbabweans, we want to encourage foreign direct investment and anything that undermines that is not in our best interest."
*Malcom Sharara is Fin24's correspondent in Zimbabwe.
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