A NEW political party formed by Zimbabweans in the diaspora, the Patriotic Zimbabweans (PZ), has proposed a financing strategy to revive the country’s deteriorating road, rail, aviation and health and sanitation infrastructure.
The party has developed, as part of its economic policy, a
Zimbabwe diaspora bond for infrastructure restoration programme to offer an
indigenous solution to capital projects in the country.
Party interim president Charles Muchineripi Mutama (46),
who is based in the United States, said his party was development-oriented,
hence the establishment of the Zimbabwe diaspora bond to economically empower citizens.
“Currently, the country’s public infrastructure such as highways,
railways, aviation, dams, water supply and sanitation and medical facilities,
among others, are in a state of disrepair or have collapsed,” Mutama said.
“The country’s infrastructure is in urgent need of
rehabilitation in some cases and in others, a major overhaul. The party, will
be administered in a fiduciary role by an internationally certified African
financial institution,” he added.
“The Zimbabwe diaspora bond for infrastructural restoration
and development will ameliorate the historical proclivity to depend on foreign
aid resulting in generational debt as well as a tragic continuation of an
extractive and exploitative role of our traditional creditors,” Mutama said.
“By their very nature, bonds are financial loans to a
company or a government, and most bonds pay fixed interest overtime meaning
that every Zimbabwean lender will benefit in this proposed mutually-beneficial
process.”
“In Western nations, most capital projects and operations
are financed in this way so the party is simply following precedence while
giving Zimbabweans an opportunity to invest in their country of heritage,”
Mutama said.
“In this mutually beneficial solution to Zimbabweans and
the nation State, PZ proposes that this economic blue print needs to be tied
with fundamental political reforms such as the enfranchisement of the diaspora
among other key areas.”
Zimbabwe has an estimated four billion people working in
the diaspora. In 2020, diaspora remittances helped drive foreign currency
inflows to US$4,76 billion up from US$4,22 billion.
PZ was formed in January this year, drawing its membership
from Zimbabweans living in South Africa, United Kingdom, United States,
Australia and New Zealand. Newsday
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