By Nick Mangwana
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| ZANU PF UK Chairman; Cde Nick Mangwana |
The notion of a “home” for a Disaporean one has always been
both an elusive and illusionary. Is home the place of ancestral origin or home
is the pace where one earns a living, stays and get settled? Is home even the place
of ancestral burial and origin? Is it the place where one has a house? There is
person whose patriarch is known to have come from South African in the Limpopo
province and settled in Zimbabwe. They still consider themselves Sothos even
though the last 3 generations cannot even speak a word in the language. The
only word that indicating their Nguni heritage is the totem title (chidawo)
known as Mthombeni.
So where is this
people’s home? Is it in South Africa or is it in in the land of their adoption
which in this case is Zimbabwe. There is never the right or wrong answer to
this question. One could it be easy. People like Simon Chimbetu left the
country to take up arms and try to liberate the country when originally their
father was from Tanganyika. They died heroes and were buried at the Heroes Acre
in Chinhoyi as illustrious son of Zimbabwe who fought for his home. So where is
the home of a Disaporean?
A few years ago, the Reserve Bank of Zimbabwe started a
company with a focus of linking up Zimbabwe and its Diaspora. They aptly named
it Homelink. This was a company that had been founded specifically with the Diaspora
in mind. Unlike most other initiatives which were mainly one sided, this was
meant to provide a nexus between the parties be mutually beneficial. It was an initiative that attempted to answer
the question of where the Disaporean Home is (albeit with disastrous
reputational consequences). In coming up
with this company it seems that there had been a conclusion that the home of a
person that emigrated from Zimbabwe to another country remains Zimbabwe. Maybe
they were right, if the recent xenophobic incidents in a neighbouring country
is anything to go by. May be the home of everyone who left Zimbabwe remains
Zimbabwe. But one can also contend that the best definition is that home is not
a geographical place. Home is a state of consciousness and therefore where
one’s home is only defined by their state of mind. It means that the notion of
home is not only a social but emotional and economic construction.
It was with this in mind that recognition was made that
those in the diaspora even if they have houses where they live, they still need
houses in their countries of origin. It is ten years after this endeavour and
the company called Homelink is still reeling from the reputational risk they
took. They have come back on the market
and are attempting to lure the same group of Zimbabweans outside Zimbabwe to
invest in the country and build houses for themselves. They have even have put
up packages with interests rates that are more favourable to the Disaporean
than those based in Zimbabwe. In their current products the Diaspora is
afforded interests rates of 10% and the Zimbabwe based at home is afforded an
interest rate of 14%. The Disaporean remains cynic. Those that want their home
to be in both places. In all situations
of disputes there are always 2 sides to a story and the truth somewhere in
between. For this noble idea that is
Homelink to prosper there has to be a lot of reputational redemption that is
needed. What with the unscrupulous
actions of some of their agencies in 2006!
Homelink are rightly paying a price for the actions of their
agencies. That would ordinarily sound fair as the principal should always be
held accountable for the actions of the agent. They have tried their best and
until now they maintain that whoever lost their moneys and can prove it should
forward their claim and they are happy to honour it. This is a good challenge.
There are not many companies out there that can lay such a gauntlet.
As Shakespeare said, “Let every eye negotiate for itself and
trust no agent”. Thus the idea of using a few unknown quantities as agencies is
the issue that led to this calamitous result.
The idea that people can just come from Harare and appoint anyone that
shows a bit of enthusiasm an agent is not only ill-advised but very much
ill-fated. Like all situations all sorts
went into the Diaspora. The good, the bad and the ugly. The reputable, the
conscionable and downright criminals. The only way Homelink or any other
company could have avoided the folly of yesteryear is to do what they have
decided to do now. Firstly to either use credit agencies for the credit history
including references right in the territories of the people they want to
use. Only people with good records could
be used as agencies. The second
alternative was to use sureties or guarantees from the agencies so as to
mitigate any potential losses not only to Homelink itself or to the consumer
and thirdly, to employ its own people who are fully accountable to it. Short
cuts do not work. There is also no substitute for regulation. They should have
engaged with regulators such as the Financial Conduct Authorities (FCA). The
mere use of that label would have meant that the discerning consumer is
reassured that they will recover their money no matter what. This is never too
late. They can still do it.
Homelink has already embarked on some of these changes. As they prepare to launch the Diaspora bond,
they can only make a good success of it if there is subject themselves to the
extra regulation and the insurance that is provided to the consumer by the FCA.
Whilst the registration fee outlay would seem a bit steep in these days of
tough liquidity in the country it is worthy it because the mere mention of the
FCA is enough to reassure the consumer.
People will always build homes in their ancestral of their
original homes as there is always a feeling that when conditions in the country
of origin become more favourable they will always return or they always need
somewhere for their descendants. The Disaporean
is always wishing and will on their original home to prosper therefore they
want their ideas and a place of their own for that good day.
There will always be an ethnocommunal consciousness which
will be more awakened when there is real estate. This real estate converts a
diaspora visitor into a diaspora investor. The solidarity between the
aspirations of those in the diaspora and those at home for the better putcome
of their country is the one thing that makes diaspora want their country to prosper.
It is not a good place to straddle 2 places.
Let Homelink shade off its undeserved miasma by not taking
shortcuts this time round. Good uptakes
of their products bring a very positive vibe to the economic activity. Someone
has to trust the national institutions. But only when they avoid short cuts and
play the rules that govern financial services products. These are the same
rules that will make the Diaspora take up the Bond. If one finds themselves taking shortcuts in
the financial products journey, then probably that place is not worthy going to
as there are no short cuts to a real good destination. If Homelink takes other
shortcuts as was done in the past, they will still end up with a pile of mess
from which they will never recover.
Zimbabweans wherever they are located want a home in
Zimbabwe. They want to work with straightforward companies with prudent ethical
practices. There are too many cowboys out there so a State Company that
subjects itself to proper regulation would not struggle to get takers. In that
regard Homelink have restarted well.
They have now to narrow the gap between their character and their
reputation and currently there is a big disparity. They have a reputation their
character doesn’t deserve. Like
Shakespeare said, “
Reputation is an idle and most false imposition; often got without merit, and lost without deserving.”
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