Econet's $1.2bn investment good example of PPP

Published: 04 December 2013

The first step to public private partnership (PPP) is when companies realize that investing into the economy will not only create a better environment for their business but enrich the welfare of the people.

A good example of such is the investment of $1,2 billion made by Econet within the economy. This just goes to show that the country needs well performing companies to have the same approach as Econet.

Econet has invested $1,2 billion in the Zimbabwean economy since its inception 15 years ago, with at least $1billion of that amount spent in the last five years alone.

According to the company's CEO Mr Douglas Mboweni more than 50 000 direct and indirect jobs had been created, more than 20 000 small businesses had been sustained by the company and in excess of 25 000 young people are now employed selling airtime and other services.

Mr Mboweni said the investment by Econet, even in the face of economic challenges in Zimbabwe, was a demonstration by the company of its commitment to the country's economic future. This year alone, Econet will have spent $180 million on further capital investments, he said.

This then goes to show that the company not only has the success of its entity at heart but also the success of the nation. In as much as it may be acknowledge that most Zimbabwean companies are struggling to perform due to the economic constraints that the country is facing they are various ways that these companies can partner with the government to see the economy grow.

The best example is the East Asian experience, their success story is anchored on strong Public Private Partnership were the government seat with the actual captains of industries and maped the way forward for the economy.

This should be the way forward for Zimbabwe, at a company level and not just through their lobby groups.

PPP should not be confined to big infrastructural programs and other government projects but should also consider the small things that other companies without the muscle can do to improve the economy.
- bh24

Tags: Econet,