By Faith Chimutsa
Business Economic Empowerment Federation (BEEF) is urging business people to take advantage of the” Leave No And No Place Behind” mantra to complement the Government efforts in reviving, restoring confidence and resuscitating the economy in the next 20 years.
BEEF president Dr Solomon Matsa speaking at a press conference on Tuesday told the media that the indigenous people play a pivotal role in developing the country as their revenue and taxes are mostly used in the country.
“BEEF gives Zimbabweans an opportunity to start businesses without capital. By supporting Zimbabweans to start businesses, locals are forming consortiums working on building roads. In the last three years, locals have proved their potential. Most projects whether housing, roads, mining, or agriculture are being spearheaded by locals in a move that saves the country millions of dollars.
Locally-owned companies like Masimba, Fossil, and Exodus are doing fantastic work in the construction of roads”, said Matsa.
The press conference coincided with the Buy Zimbabwe Week which also promotes locals to buy local products. ” All products in Zimbabwe supermarkets should be locally produced so as to increase production”, said Dr Matsa concurring with Buy Zimbabwe intiative.
Founded in November 2017 by Zimbabwean business entrepreneurs, BEEF seeks to promote business and economic empowerment of indegenious business people, including citizens in the diaspora.
BEEF specializes in mining, agriculture, manufacturing, procurement and logistics, and banking and insurance.
Dr Solomon Matsa says it is far much better to use 80% local procurement policy to grow capital within our society than to bring Foreign Direct Investement ( FDI) which takes away the country’s profits.
He said if our country was to imitate the legislation in America where 1953,the Small Business Act was passed in, and later reinforced by the 1958 Small Business Investment Act then it will be fruitful for the economy.
“These two pieces of legislation were to prove critical for the growth of the Silicon Valley.During the years 1974 – 77,only 61 Smaller Companies worth $5m or less,were able to sell stock to the Public”, said Dr Matsa showing that local business enterprenuers who have small business makes the economy strong.
However for business to grow there is need for funding and he said he will be at an African conference to discuss funding towards investments and growth of Africa in Malawi in the first week of December.
“AfrexZim Bank is building its heaquarters in Harare to bring funding to our doorstep amd that is highly recommemded”, he said. Recently Afrexim Bank outlined US$3 billion counrty programme for Kenya.
Dr. Matsa highlighted that BEEF affiliates like Vuti Quarries owned by Mr. Jackson Makate, and Tatenda Mungofa’s Mureza Auto which are Zimbabwe owned enterprises are doing well at the regional and international level.
Through connferences, BEEF is able to reach peope contrywide in their endeavour to talk about indigenization and empowerment. “The BEEF leadership has been moving around the country with Mr. Mike Bimha, the former Minister of Industry and Commerce, talking about indigenization and empowerment”, said Matsa.
President Emmerson Mnangagwa was impressed with the BEEF countrywide empowerment crusades that led to conferences in places like Harare, Masvingo, Bulawayo, and Mutare which focused on mining, agriculture, tourism, ICT, procurement, and infrastructure development.
“These conferences contribute to the running and promoting of empowerment. Business people should take development as a priority”, Matsa added.
BEEF was given the mandate to put together authentic business people who are not represented in government. As it stands, the Zimbabwe National Chamber of Commerce (ZNCC) and the Confederation of Zimbabwe Industries (CZI) are run by Chief Executive Officers (CEOs) and not the real owners of the businesses and by that the latter’s voices may not be heard.
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