Latest news with #economicempowerment
Zawya
2 days ago
- Politics
- Zawya
What happened to real economic development in Zimbabwe ?
In recent months, Zimbabweans have been bombarded with announcement after announcement of so-called 'revolving funds' launched by President Emmerson Mnangagwa's government, supposedly as a form of economic empowerment. To directly receive articles from Tendai Ruben Mbofana, please join his WhatsApp Channel on: The most recent was a US$300,000 fund, with US$200,000 earmarked for Health Ambassadors for Economic Development – a ZANU PF affiliate operating under the banner of 'Health Ambassadors for ED' – and US$100,000 for 'BoysDzamdara', another partisan group. Just a day earlier, the same government launched another US$200,000 fund for 'Mapositori for ED', also a ZANU PF-aligned group. Over the past year, we have witnessed similar schemes targeting war veterans, youth, teachers, women's groups, hairdressers, pastors, and many others – all under the banner of revolving funds intended to stimulate so-called 'projects'. But how is plunging citizens into debt supposed to be empowerment? Is this truly the vision of economic development under the so-called 'Second Republic'? When a government claims to be empowering its people but does so through debt, forcing citizens into the precarious world of informal survivalist projects – often far removed from their training, passion, and professional aspirations – then something is fundamentally broken. This growing tendency by the Mnangagwa administration to reduce empowerment to loans for 'projects' exposes a deep and systemic failure to create a functional economy. Take myself, for example. I am a journalist by training. My passion and profession lie in writing, in informing the public, in shaping national discourse. But in the Zimbabwe of today, I cannot earn a decent living through this passion, despite my qualifications and decades of experience. Instead, if I want to 'empower' myself under this government's model, I must take a loan – a debt – and perhaps start a poultry project or sell tomatoes on the roadside. But I never studied poultry farming. I have no particular love for selling tomatoes. These are not choices born of passion or vision. They are choices born out of desperation. In any normal country with a working economy, people pursue careers aligned with their skills and interests and are able to live decent lives doing so. Side projects, where they exist, are driven by personal interest – not by poverty, not by the failure of the state to ensure a functioning economy. Yet in Zimbabwe, that is the cruel reality. A trained teacher is no longer just a teacher. They must become a vendor, selling airtime, snacks, or vegetables on the side. A nurse is no longer simply a nurse. She is now also a hairdresser, or perhaps baking cakes to make ends meet. These so-called 'projects' are nothing more than desperate attempts to survive in a broken economy, where wages are not only insufficient but often irregular and meaningless in the face of hyperinflation and exchange rate volatility. These are not symbols of entrepreneurship – they are symptoms of state-authored poverty. Worse still, these revolving funds being paraded as government achievements are pitiful in both scale and impact. Take the US$200,000 for Mapositori, for instance. How many Mapositori exist across Zimbabwe? Tens of thousands, possibly more. How many are expected to benefit from this amount? A few hundred? A few thousand? Even if each beneficiary receives US$200 – a figure far too little to meaningfully start any business – that would only cover 1,000 individuals. What happens to the tens of thousands left out? And more critically, what are the realistic chances that those who do receive the money will succeed in repaying it? Then comes the hard question: in a hostile and dysfunctional economy that has already plunged these same citizens into poverty and shut down countless companies, what are the realistic chances that these beneficiaries will repay their loans? With formal unemployment hovering above 90%, and most Zimbabweans barely scraping by in the informal sector, how many of these so-called 'projects' are likely to succeed — let alone generate enough income to settle debts? In such a bleak economic landscape, where survival alone is an achievement, the sustainability of these revolving funds becomes more fantasy than fact. The very notion of a revolving fund presupposes that initial beneficiaries will be able to repay their loans so that others can benefit next. But what happens when those beneficiaries fail – not because they are lazy or irresponsible, but because they are operating in a hostile and dysfunctional economic environment? How long after the fund is launched will the second batch of recipients receive anything, if ever? It becomes painfully clear that these funds are not sustainable. They are not scalable. They are not empowering. They are political tokens – headline-grabbing gestures meant to create an illusion of activity and concern, while distracting from the fundamental collapse of the economy. In fact, trying to build an economy by pushing citizens into debt is a dangerous and irresponsible experiment. A truly empowered citizen is not one who is burdened with the anxiety of loan repayments. True empowerment comes when individuals can earn a decent income from their professions, live with dignity, and plan for their futures without having to beg for handouts or join partisan groups for access to resources. Under Mnangagwa's rule, however, people are being reduced to hustlers – not out of choice, but out of compulsion. And to make matters worse, the revolving funds are often channeled through ZANU PF structures, further politicising poverty and tying access to livelihoods to political loyalty. This entire model of so-called empowerment is an open admission that the Mnangagwa government has failed to build a sustainable economy. A functioning state does not need to intervene by giving out loans to individuals just to keep them afloat. In a thriving economy, people earn from their jobs, run profitable businesses based on genuine demand, and access funding through formal institutions like banks – not through politically-driven patronage schemes. If the President truly wants to empower Zimbabweans, he must focus on making the economy work again. That means creating a stable macroeconomic environment, ensuring the rule of law, eliminating corruption, and attracting real investors who can build factories, companies, and industries. It means fixing the public service so that teachers, nurses, and police officers are adequately paid and motivated. It means supporting small businesses by creating enabling conditions – reliable power, fair taxation, efficient transport – not by handing out scraps and expecting people to succeed in a storm. Zimbabweans deserve real empowerment – where their skills, qualifications, and passions are rewarded in a functioning system. They deserve to stand on their own two feet, not constantly reliant on government intervention or political favour. Until we see policies that restore the dignity of the worker, that rebuild the capacity of national institutions, and that foster genuine economic activity, then all these revolving funds are nothing more than a smoke screen. Debt is not empowerment. Poverty masked as opportunity is not development. And until the Mnangagwa administration realises that true empowerment lies in structural reform, not in political tokenism, Zimbabwe will remain stuck in this tragic cycle of desperation and deception.© Copyright The Zimbabwean. All rights reserved. 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Forbes
19-07-2025
- Business
- Forbes
Japan's ‘Womenomics' Push Ages Terribly As Economy Struggles
Pedestrians cross a road in Tokyo, Japan. Noriko Hayashi/Bloomberg Sometimes, it's the pressing election issues that no one is talking about that matter most. Especially when the omission is by design — like the role of women in Japan's economy. I'm as bummed as anyone to have to point this out 12-plus years on since the Liberal Democratic Party returned to power pledging to prioritize gender equality. What was it that then Prime Minister Shinzo Abe promised to do for half of Japan's population? Make them 'shine.' In December 2012, the late Abe propelled the LDP back to power with a bold-sounding revival plan. Never mind that it was merely a list of things Japan should've done years earlier. It's better to be late to cut bureaucracy, modernize labor markets, increase productivity and reanimate Japan's innovative animal spirits than never to act. A key strategy to achieve those last two goals was empowering women. All available research shows that nations and companies that best utilize their female workforces are the most vibrant, efficient and prosperous. Any report from the International Monetary Fund, World Bank or investment banks like Goldman Sachs will attest to that. It's no coincidence that the LDP called their plan 'womenomics.' The word is believed to have been coined by then-Goldman Sachs economist Kathy Matsui, whose gender research made her a local celebrity. Abe cited her work when he pledged to increase the role of women in business and politics. Sadly, though, such talk ended up being a shiny object. In 2012, Japan ranked 101st in the World Economic Forum's gender equality index. Today, it's 118th out of 148 countries, a 17-place backslide. And Sunday's election offers its own metric on the dimming hopes for gender parity in the third-biggest economy. In upper house elections, women make up fewer than 30% of candidates. As Jiji Press reported earlier this month, of the 522 people who initially filed candidacies, just 152 were women, or 29.1%. This is shy of the LDP's 35% target for female lawmakers. In fact, in terms of women holding political office, Japan trails Saudi Arabia by 17 places, according to the Geneva-based Inter-Parliamentary Union. Why is Japan failing to make such an obvious fix to its underperforming economy? After all, Goldman Sachs has long argued, Japan's gross domestic product would increase by as much as 15% if the female labor participation matched that of men. One reason for the foot-dragging is that the power with Japan's patriarchy is strong. Economic history knows few examples of those with power giving it up willingly. Typically, change is demanded by the masses in ways the ruling class can't ignore. And virtually no one thinks the LDP, which has led Japan with only two brief interruptions since 1955, is going to lose all power on Sunday. Another problem is that Tokyo establishment is much better at treating the symptoms of a problem than addressing it. Abe was far from the first modern leader to latch onto gender disparities as an election issue. Back in the early 2000s, then-Prime Minister Junichiro Koizumi also made a play for fielding more female candidates. But Abe, like Koizumi before him, mostly prodded the Bank of Japan to cut rates to, or near, zero and leave them there indefinitely. As all that free money boosted the economy, there was less urgency to do the hard work of upending the status quo. Yet the last dozen years have been particularly frustrating. The LDP had broad-based public support to level playing fields and smash glass ceilings. And then it just pivoted to other pursuits, leaving Japan quite the gender-equality outlier in Group of Seven circles. This has also been a lost period of lawmakers appearing to understand that the lack of progress plays a role in so many of Japan's biggest challenges. Take Japan's demographic trajectory, one that worries global debt investors wary of the developed world's biggest debt burden. A key reason Japan's birth rate falls year after year to new record lows is Japan Inc.'s poor track record on work-life-balance policies. This has many women delaying childbirth. Then there's the 'informalization' boom that relegates more and more jobs to 'non-regular' status. These gigs pay less, offer less upward mobility and come with less job security. And the vast majority of them go to women. What does Prime Minister Shigeru Ishiba have to say about all this? Not much. How about new ideas to empower half of Japan's 124 million people? Crickets. In fact, one of the most vital repairs Japan needs this election season is among the last things anyone wants to talk about.
Malay Mail
19-07-2025
- Business
- Malay Mail
Parliament reopens Monday to focus on 13th Malaysia Plan; Rafizi and Nik Nazmi moved to backbenchers' area
KUALA LUMPUR, July 19 — The tabling of the 13th Malaysia Plan (MP13) is the main focus of the Second Meeting of the Fourth Session of the 15th Parliament which opens from Monday until August 28. Dewan Rakyat Speaker Tan Sri Johari Abdul said the tabling of MP13 by Prime Minister Datuk Seri Anwar Ibrahim, who is also the Minister of Finance, is scheduled to take place in the second week of the Dewan Rakyat sitting on July 31. MP13, which sets the direction for the country's development for 2026 to 2030, is the first by the MADANI Government under Anwar's administration as the 10th Prime Minister of Malaysia. Anwar previously said the MP13 was formulated with a focus on the economic empowerment of the people through increased income, inclusive and sustainable economic structural reforms, as well as strengthening governance and efficiency in public service delivery. Apart from that, it also emphasises regional justice, human capital development, and policy reforms to strengthen Malaysia's competitiveness at the global level in line with the principles of MADANI Malaysia. In this regard, Johari said this Dewan Rakyat session would provide adequate debate time for Members of Parliament to discuss the contents of the 13th Malaysia Plan while calling on all elected representatives to be professional and use the debate space well. 'We want the debate (session) to be more substantive and Members of Parliament should not politicise the situation so much that we drift too far. 'Members of Parliament need to stay focused on what issues we are discussing... how (they) can help the government by suggesting things that the government may have overlooked, that is our role,' he told Bernama in an exclusive interview recently. Based on the Dewan Rakyat calendar, the MP13 debate session will last for eight days starting August 4, before the ministers wind up for four days starting August 18. This session is also expected to be held in a more lively atmosphere with a comprehensive policy debate, given that it is the main meeting before the focus shifts to the tabling of the 2026 Budget at the scheduled meeting session this October. Apart from MP13 presentation, Johari said this session is also expected to see the tabling and debate of several important bills involving aspects of institutional reform, government governance, public services and issues related to the welfare of the people. In accordance with the Parliamentary Services Act 2025 (PSA) which has been approved by the King of Malaysia Sultan Ibrahim, he said efforts and measures to reform Parliament also continue to be implemented and streamlined, especially in strengthening the role of each Special Select Committee of Parliament. 'The participation of the Special Select Committee needs to be expanded because its role is quite significant with its members comprising government and opposition MPs with experience, qualifications and great influence. 'When discussing an issue in the Special Select Committee, we see that it is not in favour of the government or the opposition, rather the decision made is to represent the people as a whole,' he said. Commenting on the positions of Pandan MP Datuk Seri Rafizi Ramli and Setiawangsa MP Nik Nazmi Nik Ahmad in the Dewan Rakyat following their resignations from the Cabinet, Johari said the two leaders would be transferred to the government backbenchers' area. He said it is a normal practice for any MP who is no longer a member of the administration or the Cabinet to move his seat to the backbenchers' area. — Bernama
The National
30-06-2025
- Business
- The National
Sheikh Mohammed says aim is for every Emirati to be financially stable
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, on Monday reviewed a programme aimed at enhancing the economic, financial and entrepreneurial capabilities of Emiratis. He visited the New Economy Academy in Dubai, where he was briefed on the variety of academic programmes offered by the institution. 'Our goal is to see every Emirati household enjoying family cohesion, financial stability, and greater awareness of the future and its tools,' Sheikh Mohammed said. He listened to a presentation by Dr Laila Faridoon, chief executive of the New Economy Academy, about its key programmes to support citizens and enhance their capabilities across economic and financial domains. Programmes offered by the academy include financial awareness, entrepreneurship, capital markets, real estate pathway, and homebuilding pathway. Family planning Sheikh Mohammed was also briefed on the Family Financial Literacy Programme. It supports the Sheikha Hind bint Maktoum Family Programme, which promotes the well-being of Emirati families in Dubai, by offering insights to boost family stability and cohesion, reinforce societal values and enhance quality of life. Since its launch, 175 people have graduated from the programme with more scheduled in future. Hessa bint Essa Buhumaid, director general of the Community Development Authority in Dubai, said the aim is to roll out more programmes aimed at supporting families through every situation and stage of life. The training programme is also aimed at participants in the Dubai Weddings Programme, which was launched in 2024. This programme provides financial support for Emiratis preparing for marriage, covering the costs of the main wedding ceremony and offering wedding halls and neighbourhood majlis venues free of charge. The training programme includes a series of lectures and workshops supervised by experts and specialists. The aim of these is to enable couples preparing for marriage, as well as newlyweds, to practice sound financial planning and manage resources effectively to ensure long-term stability.
bnok24
25-06-2025
- Business
- bnok24
Central Bank of Egypt and 'Hayah Karima' Foundation Sign MoU to Foster Sustainable Social Development and Promote Volunteering Culture
The Central Bank of Egypt (CBE) signed a Memorandum of Understanding (MoU) with 'Hayah Karima' Foundation to boost volunteering efforts that support sustainable social development projects and promote economic empowerment for the most vulnerable segments of society across various governorates The MoU was signed by Ms. Ghada Tawfik, Sub-Governor of the CBE for Corporate Social Responsibility, and Ms. Ohoud Wafi, Chairperson of 'Hayah Karima' Foundation's Board of Trustees, at the premises of the CBE This comes in light of the CBE's unwavering commitment to advancing society and strengthening partnerships with relevant stakeholders to enhance citizens' welfare. Under the MoU, efforts will be coordinated to implement integrated social development initiatives, aiming to improve living conditions and achieve Egypt's Vision 2030 In this regard, the CBE will actively engage in volunteering activities organized by the Foundation through its employees, supporting initiatives of mutual interest This approach aligns with the objectives of volunteering, which aim to empower individuals to actively participate in development, strengthen social equality, foster solidarity among segments of society, and promote values of compassion, commitment, and responsibility. It also underscores the significance of this partnership as a foundation for an integrated model that simultaneously combines social development with the optimal use of human resources, reflecting the capacity of national institutions to create a meaningful and sustainable impact on citizens' lives In the same context, the CBE launched a parallel initiative, 'Together We Make an Impact,' to deepen the concept of institutional volunteering within the banking sector, recognizing it as a cornerstone of sustainable social development. The initiative aims to promote a culture of volunteerism among banking sector employees, and to channel their potentials into effective tools that create a tangible impact on societal development and progress Google News تابعونا على تابعونا على تطبيق نبض CBECentral Bank of EgyptGhada Tawfik جاري التحميل ...
