An epic legend has it that on the Pillars of Hercules, the two columns on either side of the Straits of Gibraltar where the Mediterranean Sea meets the Atlantic Ocean, there are inscribed words “Nec Plus Ultra”, which means “No Further”.

The words, it was believed, were meant to discourage sailors and navigators from travelling beyond this point as it was the end of the known world. According to Greek mythology, Hercules was the Greek demigod who pressed the two mountain columns to separate Europe from Africa. Figuratively, the pillars have become a symbol of restriction. However, as seafarers and explorers continued on their voyages, it was discovered that the world indeed reached beyond these supposed pillars that were considered the marker for the end of the world.

Today, Spain’s coat of arms carries a symbol of the Pillars of Hercules, but its inscriptions, contrary to the original ones, have since then changed to “Plus Ultra”, which means “Further Beyond”. This motto serves as an encouragement to go beyond limitations. No wonder why Spain despite being perennial under-achievers and losing various trophies on the cusp and doorstep in football finals, the beautiful country eventually won back-to-back titles in the form of Euro 2008, FIFA World Cup 2010 and Euro 2012.

It is refreshing to note that some of our government leaders are cognisant of the fact and importance of the need to re-integrate with the rest of the world after years of surviving as an “island”. It is without doubt that a solid engagement drive with the international community is needed as a matter of urgency. Development partners and foreign investors continue to play vital roles in the development of our country and a continuous engagement with them would serve our nation better. Right now, the whole world is in search of solutions to various challenges bedevilling the globe. Such challenges are in the form of emerging diseases, limited investment options, scarce supply of resources, fragile clients and markets amongst other problems. I believe that these challenges present enormous opportunities for our country to re-engage with the international community based on our potential to provide some of the solutions to the challenges the world is facing. My motivational case for re-engagement with the international community is premised on my reference to the data sets below.

Multilateral Partner

Global Fund                             121,598,274                     157,919,891                      74,883,485

UNICEF                                    8,304,495                          8,849,553                        8,849,553

AfDB                                         9,759,000                        14,864,000                      44,850,000

FAO                                          312,106                              559,024                            500,000

IFAD                                         1,766,772                          3,463,397                      10,635,213

UNDP                                       3,137,107                           2,977,207                        6,672,886

UNFPA                                      1,816,640                           3,162,106                        2,751,057

WHO                                         1,928,235                           3,556,711                        3,556,711

ILO                                            128,994                              258,619                           304,992

ITU                                             108,000                             198,456                            198,456

UNESCO                                      35,772                             238,211                           238,211

Sub – total                                 148,895,777                     193,069,968                   153,252,670

GRAND TOTAL                          526,691,777                      659,279,480                    606,709,634

Sectoral Disbursements

Sector 2018 Jan – Sep Actual      Exp Outturn by Dec 2018       2019 Projected

Health                                       318,993,250                       379,350,401                    280,985,765

Humanitarian                             59,437,871                         72,035,317                      52,274,240

Agriculture                                 15,960,473                         29,229,222                      31,447,473

Capacity Building                      18,462,001                         26,550,480                      43,572,667

Governance                               42,664,786                         66,770,562                      75,434,067

Water Supply & Sanitation       6,976,567                          10,427,031                     17,634,755

Education                                  17,633,735                           22,969,325                    25,594,293

Basic Social Services               32,177,837                            43,936,646                    25,497,879

Transport                                    3,853,079                             7,012,777                     37,319,396

Multi - Sector                             5,291,178                             2,838,726                       6,457,861

Power/Energy - -                       5,471,238

TOTAL                                      526,691,777                        659,279,480                    606,709,634

Development Partner Support (2019 & 2020)

Development Partner Jan to

Bilateral Partner            2019 Jan- Sept Actual   Exp Outturn by Dec 2019    2020 Projected

USA                                             50,064,531                         252,722,653                    252,722,653

UK                                               50,000,375                           83,460,375                    112,992,500

European Union                       41,086,881                           59,731,595                      72,947,916

Sweden                                      28,050,000                           28,050,000                      10,590,000

China                                            3,631,500                             3,881,500                       46,211,500

Japan                                         14,293,496                           14,293,496                       11,245,953

India                                                500,000                                500,000

Switzerland                                  6,425,180                           6,425,180 -

Sub – total                                  194,051,963                     449,064,798                     506,710,522

Multilateral Partner

Global Fund                                  88,684,303                       88,684,303                     116,728,288

World Bank                                        400,000                       24,650,000                       26,600,000

AfDB                                              21,401,088                        21,401,088                         3,412,133

UNICEF                                           8,810,587                         8,810,587                           7,809,000

UNDP                                             3,788,439                         3,788,439                            3,054,000

WHO                                              9,400,461                         9,400,461 -

UNFPA                                           2,733,164                         2,733,164                            3,780,249

IFAD                                                   712,639                           712,639                             6,436,751

FAO                                                     732,782                         732,782                                 644,000

ILO                                                      329,760                          329,760                              1,050,000

IOM - -                                                373,457

ITU                                                         62,000                         62,000 -

UNESCO                                               58,670                          58,670 -

IAEA - -                                               537,766

UNCTAD - -                                        500,000

Sub – total                                   137,113,893                 161,363,893                           170,925,643

GRAND TOTAL                            331,165,856                  610,428,692                           677,636,164

Source: Ministry of Finance & Development Partners

Sectoral Disbursements

Sector Projected 31US$)

Agriculture                                  148,228,906                      134,703,869

Transport                                         8,235,453                         11,181,820

Power and Energy                          7,831,785                          2,031,400

Water and Sanitation                  15,659,081                       15,825,000

Health                                          316,224,754                     360,745,139

Education                                      15,613,382                        35,294,250

Governance                                  35,932,499                        41,827,425

Multi-sector                                  23,831,475                       21,838,887

Humanitarian                                  4,709,214                      30,000,000

Capacity Building                          10,607,142                       6,628,439

Basic Social Services                    23,555,000                       17,559,936

TOTAL                                          610,428,692                     677,636,164

Source: Ministry of Finance & Development Partners

A perusal and cursory glance on the above tables reveals that our nation receives significant donations which make up a huge chunk of our national budget and foreign currency receipts. Such donor funding is largely responsible for a lot of our nation’s social and welfare services for the vulnerable and marginalized sections of our society. Now, without some form of diplomatic engagement through our representation in those countries and our consistent interaction with those donor-countries, such funding will not grow but dwindle or even dry up. The data set above did not show the investments and trade volumes with those countries but no one can deny the point that despite our country’s isolation, we still benefit from huge trades and investment with the above highlighted countries. Imagine what would be the country’s current account position if our nation’s stakeholders such as private sector companies were engaged in international trade with more than 200 countries in this world. The idea of concentrating our foreign policy on a few selected countries is not a wise one because if those countries face some challenges, our nation will also catch a cold. With all the focus on the Look East Policy, how many NGOs do you know which have their roots from the eastern side of our globe, even China?

Corporate leaders need to push for a new era which sees business entities relating with their foreign counterparts in multi-layered and mutually beneficial ways as equal and reciprocally dependent partners. In this globalized village, no company can afford to be an island, one unto itself. As such, if corporate Zimbabwe leaves the international engagement agenda to government leaders, such corporates stand to lose extensively. Added to this quagmire are the sanctions which have been asphyxiating our economy for the past two decades resulting in our business community being cut off from tapping into more international capital markets. If all these issues are not resolved, many companies will be affected by the snail-pace which has negative spin-offs on the growth trajectory of most businesses as they will not be a business enabler in the form of our government. Business leaders should have no illusion as to the apparent benefits of collaborating with our central government in our country’s re-engagement thrust. The government stands at the centre of our country’s foreign policy processes. The words of Henry Kissinger ring loudly even to this day: “We are stranded between old conceptions of political conduct and a whole new conception between the inadequacy of the nation-state and the emerging imperative of global community.” Our country cannot be stuck in the political and business models of the past.

Let me let you in on a public secret, diplomatic passports can be issued to captains of industry and commerce provided the right protocols are followed with the aid of the right institutions and stakeholders. We should see corporate executives engaged in exchange programmes whilst globetrotting in search of markets and capital aided by diplomatic passports. There are various arms of the government which are tasked with the mandate to facilitate the issuance of diplomatic support and resources to our business leaders. Of particular importance is the need to make sure that the business case for the provision of such diplomatic resources is genuine. Corporate leaders just need to present their cases well, leveraging on the right institutional and human facilitators who can influence and press the right buttons for business entities. It is all about networks, both locally and internationally.

We cannot continue to cry about foreign currency shortages without seeking our corporate presence and engagement with companies from outside. With the current lackadaisical international relations approach by our government, our corporate entities have very few chances of creating foreign assets in other offshore markets which can earn us the much needed foreign currency at the same level with other multinational companies from other countries.

Our business community has to map out a trajectory that seeks to initiate and implement a raft of programs meant to deepen and widen our international engagement both at a governmental and corporate level.  In order to make these initiatives palatable to the ruling elite, the programs have to dovetail with the country’ socio-economic vision and principles anchored on the need to ensure the economic and financial advancement of the masses especially the rural folk. The initiatives also have to be anchored on the need to facilitate national economic recovery, growth and job creation. Business leaders should support initiatives that seek to assist in promoting trade and investment for our nation with other countries. Zimbabwe suffers from a lack of positive international media coverage and outreach. Our homegrown companies have to chip in order to sanitize the negative image on our country as we have taken a bashing in global media with detrimental effects in our efforts to attract FDI and opening trade routes. In this vein, our business community has to work with the existing media houses in our country as well as in other various countries or to build our own media houses that can operate in those markets. Events, both virtual and traditionally physical, are extra pillars for our business leaders to leverage on with a view of connecting with the global community.

In his famous book “The Trouble with Nigeria”, the late Chinua Achebe professed that the only trouble with Nigeria is the failure of leadership because with good leaders, Nigeria could resolve its inherent problems such as tribalism, lack of patriotism, social injustice and the cult of mediocrity, indiscipline and corruption. In this instalment, I am particularly interested in the patriotism and corruption aspects.

Chinua Achebe went further to highlight that Nigeria and its leaders bitterly exposed themselves by holding on fast to what their savant Achebe rebuked them for i.e. harbouring a false image of self when he said, “One of the commonest manifestation of underdevelopment is the tendency amongst the ruling elite to live in a-make-believe and unrealistic expectant world. This is a cargo cult mentality that anthropologists sometimes speak about, a belief by backward people that someday, without any exertion whatsoever on their own part, a fairy ship will dock in their harbour laden with every goody they have always dreamed of possessing.”

The unwanted malignant economic diseases which have stricken us for many years are egregiously bitter to endure for another decade in an atypical style. The ignominy of witnessing the abhorrent currency rumble with a possibility of its demise is not an easy shock to absorb. The tumult we are currently experiencing is painful for both government and private sector. Without the involvement of the private sector in our national re-engagement thrust, our business leaders should not expect our government leaders to eradicate corruption, inefficiencies in our global integration efforts and economic growth whilst they fold their hands. Business captains also have to roll their sleeves for this desired change to come. No fairy ship will dock our business harbours laden with foreign currency denominated capital and international export market links. Our international engagement should be informed by our national and business interests and we should not be dragged or disturbed by “diplomatic snobbery” or “radical ideological baggage”.

Amidst the persistent pessimism and cynicism, some corporates in our country are a resilient lot and have the most profound patience imaginable which will reward them in good time. If our nation was an animal, it would surely be a cat. There is an ancient proverb which says, “A cat has nine lives, three of which he plays, three he strays and three stays”. Some people believe that the nine lives’ myth is related to cats’ abilities to always land on their feet. Cats are known for their dexterity and agility. Cats can survive threats that are severe enough to kill them but when a cat is cornered, it will have no option but to attack. That is why it has nine lives because it will attack and not meet its death sheepishly.

The corporate cat in Zimbabwe, from this beloved nation and with roots from this country, should be ready to reclaim its place in the sun. Some claim it is not a cat but rather a crocodile, either way, may the words bequeathed to us by the great Chinese leader, Deng Xiaoping, who led China on its way to being an economic powerhouse, inspire us with a recall that, “It does not matter whether the cat is black or white, as long as it catches the mice.” We need to cast our investment and trade nets wider as corporate Zimbabwe. As business leaders, let us destroy the Pillars of Hercules for our nation’s and companies’ integration into the global community.

Malvin Chidzonga (Financial Analyst)

Malvin Chidzonga is an innovative and dynamic finance and investment practitioner. He has extensive exposure and experience in the whole spectrum of the financial service sector. He is animated by the desire to optimally explore, identify and create financial advancement opportunities for people and organizations by harnessing financial potential inherent in them as well as connecting various dots, opening doors and shining the spotlight on them in order to craft great outcomes for society at large. He began his financial service career at Agribank, then joined CFX and Interfin Bank before his stint with Jiang Xing Trading Co in Beijing, China. Upon his return to Zimbabwe, he joined Zimnat Lion Insurance before moving to Comarton Consultants. Whilst at Comarton, he worked with Atchison Actuarial Consultants on the crafting of several financial models for various non-financial organizations. Amongst other posts he has, he is the current Principal Officer of the Sports Industry Pension Fund, a position he has held since the Fund’s formation in 2013. He is now a full-time member of the Nivteil Financial Ventures’ team.