Let us applaud Botswana

Having realised that doing fence sitting while the Zimbabwean economy is deteriorating cannot help matters, Botswana chipped in with a credit facility worth about US$70 million meant to revive Zimbabwe's economy.
The lines of credit signed between Zimbabwe and Botswana Finance Ministers, Tendai Biti and Kenneth Matambo respectively in Harare on August 3, 2012, came at a time when the country had no access to international lenders like the World Bank (WB) and the International Monetary Fund (IMF).

The initiative by Botswana to come up with such a package at a time when the international community is failing to bail out the country should be applauded. Botswana has shown the world that friendly countries should be assisted in times of need.

Whereas other countries have failed to see reason and bailout the ailing economy of Zimbabwe, Botswana has done exceptionally well by chipping in with such an offer.

Some of the countries in Africa and the world over have developed a wait and see attitude while Zimbabwe is in dire need of financial assistance.

Before such an initiative by Botswana, the media has been portraying Zimbabwe and Botswana as countries at a political war. Some media houses went on to say that President Robert Mugabe and Ian Khama do not see eye to eye as they are sworn enemies.

The recent offer by the Botswana government has dispelled that notion which was bent to sow seeds of hatred between friendly nations. While the media was portraying the two countries as enemies, the same media failed to influence those claiming to be friendly to Zimbabwe to come up with any offer.

If the truth be told, countries which were misleading former opposition leaders into believing that if they manage to get in government they would chip in with substantial amount of donor funds, have withheld their money to the disappointment of many Zimbabweans.

To show how helpful Botswana is, it did not impose its will on Zimbabwe before such a lifeline was offered. The country just felt that her neighbour needs assistance hence her desire to chip in with such a credit facility.
Had that credit facility come from either the EU or USA, strings would have been attached. The western countries, though developed, have no cheap money.

The WB and the IMF which are controlled by the developed countries, led by the USA and the EU bloc, are not good at releasing such facilities without economic prescription. Zimbabwe once experienced one of its worst era in history in the early 1990s when the WB and the IMF prescribed economic structural adjustment programmes for the country.

Other African governments should emulate what the Government of Botswana did to Zimbabwe. They should realise that Africa is for Africans and can only be saved by Africans. If only African leaders could dump the idea of rushing to the USA and EU for financial support in times of depression, the continent would be self reliant Africa is endowed with vast mineral resources which can sustain the continent and only the will and cooperation of African countries could save the continent.

Because of Botswana's assistance, companies which have been facing liquidity problems in our country would benefit as they would use such an initiative to recapitalise their operations.