Paul Nyakazeya, Group Digital Editor 
ZIMBABWE must urgently correct issues around property rights, bilateral agreements, dividend repatriation and the elimination of cartels-driven graft as well as encouragement of industrial competition if it is to attract foreign direct investment (FDI), and resuscitate its floundering economy, South African ambassador Mphakama Mbete says.
This comes as the International Monetary Fund (IMF) has slammed the government for implementing “half-backed policies” and several other oganisations, including America’s RAND Corporation have warned the country risks sinking further into the mire if it remains on “a parasitic path”.
“Nations with extractive political and economic institutions are likely to be poor compared to those with inclusive economic institutions, where the rule of law is protected against rent-seeking and political manipulation,” Mbete said, before quoting Daron Acemoglu and James Robinson’s book “Why nations fail” to emphasise that Zimbabwe’s “open for business” policy would fail if there are no reforms.
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