In a spirited tweet, Zimbabwean government spokesperson George Charamba lauded African entrepreneurs for their impactful investments within the continent.
He emphasized that when African capitalists invest meaningfully in Africa, they should not be labeled with derogatory terms like “zvigananda,” a colloquial Zimbabwean term implying greed or greed-driven behavior.
Charamba highlighted that the real issue arises when capital accumulation leads to capital flight externalizing profits rather than reinvesting locally an act he associates with the negative connotation of “zvigananda.”
His remarks come in the wake of Nigerian billionaire Aliko Dangote’s recent inauguration of a $250 million cement plant just outside Nigeria, which is seen as a significant move towards regional industrialization and economic development.
Charamba’s comments underscore a growing call within the continent for entrepreneurs to prioritize sustainable growth and avoid externalizing profits, thereby fostering regional development and economic independence.
