Looting legacy: Zim’s economic decline

NRZ

“THE internet is the new footprints", suggests that our digital presence reflects our activities and choices, much like physical footprints do in the sand.

Zimbabwe's once-thriving economy has been systematically dismantled over the past two decades, primarily through a series of reckless policies and rampant corruption.

The recent announcement of a new policy permitting beneficiaries of land reform to sell farms has reignited discussions about the consequences of previous looting and mismanagement.

I will be examining the historical context of Zimbabwe's economic decline, the role of political elites in perpetuating these issues and the troubling implications of current policies.

In the early 1980s, Zimbabwe was known for its robust industries, including Air Zimbabwe, the National Railways of Zimbabwe (NRZ) and the Zimbabwe Iron and Steel Company (Zisco), just to name a few.

However, these entities suffered catastrophic declines due to mismanagement, corruption and the looting by those in power. Air Zimbabwe, once a symbol of national pride, became a shadow of its former self, plagued by debt and operational inefficiencies.

NRZ and Zisco faced similar fates, unable to compete in a global market while being systematically stripped of assets. This decline was exacerbated by a misguided land reform programme that aimed to redistribute land from white farmers to black Zimbabweans.

While land reform was essential for addressing historical injustices,the execution was marred by violence, corruption and a lack of planning.

Many of the beneficiaries of this programme were political elites, who had little interest in farming, leading to idle lands and decreased agricultural productivity.

As the economy faltered, Zimbabwe turned to foreign partners, particularly China, for financial assistance. This has led to a worrying trend of mortgaging the country's rich mineral resources to foreign entities.

In exchange for short-term financial relief, Zimbabwe has effectively ceded control over its minerals, placing the nation in a position akin to colonial subjugation. Chinese companies have become significant players in Zimbabwe’s mineral extraction sector, often under conditions that favour their interests over those of the local populace.

This new economic arrangement raises critical questions about sovereignty and the long-term implications for Zimbabwe’s economy.

The political elite, having sold off national resources for personal gain, continue to benefit from these arrangements while the average citizen bears the brunt of the economic fallout.

The individuals, who have profited from the systematic looting of Zimbabwe’s resources, are predominantly politicians and black elites with close political connections.

These beneficiaries have accumulated wealth and power while the majority of Zimbabweans struggle with poverty and unemployment.

The recent policy allowing land reform beneficiaries to sell their farms is seen by many as a desperate attempt by these elites to offload their ill-gotten gains before the impending economic collapse becomes unavoidable.

Hopewell Chin’ono, a prominent journalist and government critic, has articulated the absurdity of this situation.

He argues that allowing individuals, who received land for free to sell it for profit is not only economically foolish but also morally criminal.

The land, according to Chin’ono, should belong to the government, which can then redistribute it fairly to those willing to farm.

The parallels between Zimbabwe’s current predicament and its colonial past are stark. The forced sale of stakes in previously white-owned companies to black individuals was intended to rectify historical wrongs, yet it has often resulted in the enrichment of a select few rather than the broader population.

This pattern of looting and exploitation has deep roots in Zimbabwe’s history, echoing the injustices of colonial rule.

The land invasions that began in the early 2000s were framed as a radical reallocation of resources.

However, they often served to benefit political patronage networks rather than the marginalised communities they were supposedly meant to help.

The result has been a cycle of economic mismanagement that continues to plague the nation.

As Zimbabwe moves into 2025, the implications of current policies are dire.

The government’s attempt to allow the sale of previously expropriated farms signals a lack of understanding of the economic realities on the ground.

Many of these lands are still contested and the absence of a clear legal framework makes any transactions risky for potential buyers.

Chin’ono’s assertion that this policy will lead to serious political problems and upheaval is not unfounded. The discontent among the populace is palpable, as citizens witness the continued enrichment of a corrupt elite while they are left to navigate an increasingly difficult economic landscape.

The lack of confidence in the government’s ability to manage land and resources will deter both local and foreign investment, further exacerbating the economic crisis.

To break the cycle of looting and mismanagement, Zimbabwe must undertake a comprehensive land audit and establish a clear, equitable land policy.

This policy should prioritise the interests of all Zimbabweans, not just the political elite.

A non-partisan approach to land distribution, combined with a commitment to uphold legal agreements concerning property ownership, is crucial for restoring trust in the government.

Moreover, the focus should shift from merely selling off resources to creating an environment conducive to sustainable economic growth.

This includes investing in infrastructure, supporting local businesses and fostering a climate of transparency and accountability.

With the digital footprint left by the looters, the looting of Zimbabwe's resources will continue to leave deep scars on the nation’s economy and its people.

As the government pushes forward with policies that benefit a selected few, the broader population continues to suffer.

It is imperative for Zimbabweans to advocate for meaningful change — one that prioritises equitable resource distribution and restores faith in the nation’s governance. Only then can Zimbabwe hope to rebuild its economy and secure a prosperous future for all its citizens.

Without this change Zimbabwe's new black rulers will continue to exploit the majority for the benefit of a few and the majority may and will resort to violence to liberate themselves from the new oppressors.

 

 

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