WATCH LIVE as Trevor Ncube speaks to Ritesh Anand, a former RBZ board member who is now based in the UK where he is a global fund manager and entrepreneur.
Ritesh is the son of the second Indian businessman to settle in Bulawayo who owned Anand brothers a retailer with clothing, groceries and fabrics shops in Bulawayo.
Key Points from the discussion
- The ZIG which is allegedly backed by gold is unlikely to work because the RBZ lacks credibility, you need to restore credibility in the Reserve bank.
2. Driving to Victoria falls from Bulawayo and seeing all these derelict farms, this is money that we have barred.
3. So what are we doing to restore confidence?
4. The people in Bulawayo have suffered more than the people in Harare. Bulawayo can be the hub because of its location, but its depressed.
5. We need to address corruption which has became endemic across the whole country.
6. Capital markets do not exist in Zimbabwe. Zimbabwe has became a tuckshop economy. Not only has the big stores been destroyed, we have destroyed many other businesses.
7. We do not have derivatives, the ZSE is the oldest exchange in Africa and we destroyed it. We have created the VFX, but people in Victoria Falls don’t even know about it.
8. We have to start reversing the informalisation. We have created a flea market economy in Zimbabwe and we can not be a country of rich poor people.
Please watch the video above this post for more details
