22 October 2017
   
Mugabe UN honour offensive; Irish min
Gukurahundi event: cops block Dabengwa
PRC: No contest, Mujuru our automatic boss
Mthwakazi: Zim men target our women
Biti: Govt worsening Zim high risk profile
Gweru heeds Mugabe order, clears vendors
Harare city spends 600k monthly on fuel
Four face 9 years jail over dead pangolin
MORE NEWS
EU to Zim: Speed up economic reforms
Zim currency crisis: When the market rules
MORE BUSINESS
Mr Ugly is back! 13 up for 2017 gong
EU Film Festival comes to Bulawayo
MORE SHOWBIZ
Huddersfield hand Man U first defeat
Premiership takes Chibuku break
MORE SPORTS
Zimbabwe is Africa’s shakedown state
Napping dictator no Mandela match
MORE OPINION
 
Sunday Roast: Brave, heroic diarrhoea!
Clerics! Please plead the cause of the poor
MORE COLUMNISTS
 
 
Poor roads harming Zimbabwe economy: Nkosana Moyo
27/07/2010 00:00:00
by Staff Reporter
 
Poor maintenance ... Zimbabwe's poor roads harming economy
 
RELATED STORIES
Politicians divide on tribe, class: Nkosana
Nkosana Moyo speaks on Gukurahundi
Nkosana Moyo says to fix Zim in just 5 years
Nkosana, Makoni: No country for the nice
Nkosana Moyo: no Zanu PF ‘blood’ in me
Justice Paradza sneers at Nkosana bid
Mixed feelings over Nkosana Moyo bid
Nkosana Moyo angers opposition colleagues
Tsvangirai betrayed in 2008: Nkosana Moyo
Coalition: Nkosana scorns chancers
Mushohwe: Nkosana Moyo 'spineless'
'Fishmongers Group' sets up in Harare

POOR infrastructure maintenance is costing Zimbabwe’s economy millions of dollars annually, the Vice President and Chief Operating Officer of the African Development Bank Nkosana Moyo has told a conference of Zimbabwean engineers in London.

“One of the problems in Africa is that we like to build new things, but we are not good at looking at those that we already have, and the costs are phenomenal,” Moyo, Zimbabwe’s former Industry and Trade Minister, said last Friday.

“Roughly for every dollar spent on maintenance, you save the economy $4 from the statistics that we have. That’s not even talking about what you allow the economy to create in terms of growth.”

Moyo said Zimbabwe’s pothole-riddled roads were costing motorists millions of dollars in repairs every year – money which could have been spent on the economy.

“The maintenance of vehicles in Zimbabwe which is a direct result of bad roads is a huge cost to the economy. Every time a consumer has to spend money that way, the demand side, in terms of stimulation of the economy, is robbed of purchasing power,” the economist told a Zimbabwe Institute of Engineers (UK Branch)-organised conference on infrastructure development and investment.

He added: “All economies grow because of the consumption that is there either globally or in the country, therefore it is important to understand that the facilitation for consumption is the driver of an economy.

“If the money that could be spent through demanding consumption has to be spent on replacing a tyre and things like this, you are actually depriving the economy of growth potential.”



Advertisement


 
Email this to a friend Printable Version Discuss This Story
Share this article:

Digg it

Del.icio.us

Reddit

Newsvine

Nowpublic

Stumbleupon

Face Book

Myspace

Fark

 
 
 
comments powered by Disqus
 
RSS NewsTicker