Tales Of Despair & Hope: An Overview Of Zimbabwe’s Business Scene

By  |  December 18, 2020

If the overall economic situation in Zimbabwe were to be described in one word, then "rollercoaster" seems like the perfect fit.

The Southern African country has been stuck in some sort of economic rut for as long as anyone can remember. And even though, in all fairness, there have been sprinkles of hope in-between, the malaise is one that has become a long-standing issue, spanning decades. As a result, locals have found it hard to get by, as have their businesses.

“Zimbabwe was stagnated economically for almost 20 years with no real investment,” says William Ponela, Founder and CEO of Zimbabwe’s Zonful Energy. “This has created a huge gap in between Zimbabwe and the world,” he adds.

Zimbabwe's economic instability is inextricably linked to the socio-political turbulence that has enveloped the country over the years.

As the political instability brought about economic downtimes, the ripple effect of the latter has disrupted multiple sectors of the economy -- from industries dominated by large corporates to the informal sector, and even the local tech ecosystem.

A tale of troubles

Among the myriad economic metrics that tell a tale of doom and gloom, Zimbabwe's inflation numbers and the consequent repeated currency collapse are issues that blow the mind, and not in a good way.

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