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Zimbabweans are big spenders of forex who lack entrepreneurship skills to earn the forex : Mangudya

6 years agoSun, 27 Aug 2017 10:08:37 GMT
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Zimbabweans are big spenders of forex who lack entrepreneurship skills to earn the forex : Mangudya

Governor of the Reserve Bank of Zimbabwe (RBZ), Dr John Mangudya has said that the country has a lot of people who are good at spending foreign currency but are very poor at earning it. He also said that Zimbabweans lacked entrepreneurship skills to mine and harness the estimated 13 million tonnes of gold still underground.

 

Speaking at a fundraising dinner, Mangudya said:

I did a bit of research and came to the conclusion that Zimbabweans lack entrepreneurship, serious entrepreneurship to absorb all the risks as entrepreneurs so that we turn around the fortunes of this economy and all its potential.

If you have more than 13 million tonnes of gold underground and yet Botswana can survive on diamonds only, it means Zimbabwe, in all earnest, can survive on gold alone.

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I have never seen a country that wants to spend foreign currency without earning it. We are good spenders in this country but not very good makers of foreign currency. Whenever you want to spend foreign currency, ask yourself ‘have I made it?’

More: The Standard

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