Is there a complicity of big business in the chaos and looting of Zimbabwe?

Yesterday I was looking at the boards of directors of companies listed on the Zimbabwe Stock Exchange. The first thing that stood out for me is that a small clique of business leaders is in control of around eighty percent of all the companies listed on the stock exchange through their presence on various boards. The other thing that stood out for me is that most of this small clique has very strong business ties with individuals from the ruling party. That in itself was an eye opener for me.

Thing is, I have always wondered why there seems to be an undecided response from business leaders on the ever deteriorating business environment. Week after week the operating environment deteriorates further and yet real cries of distress are limited, particularly from the largest companies in the country. The majority of small businesses have already been forced out of the formal business market because of the harshness of the operating environment. However, the apparent silence from big business is starting to make sense to me.

Here is what I know:

· A great number of company directors are also beneficiaries of the Zanu PF patronage system. Companies like Dairiboard, Cottco, FBC Corporation, Rainbow Tourism Group, Fidelity, ZB Financial Holdings, Zimre, Astra Industries and CBZ Holdings among others were acquired from government or with huge financial support from government.

· A number of company directors are also beneficiaries of the Land Reform Programme, having been given A2 farms.

· Most companies still depend on government contracts for business…or need approval from government before pursuing business deals.

· I know of some company directors who are strong business partners with the big men of Zanu PF. It is how individuals on international sanctions lists have managed to bust these sanctions.

Anyway, I feel I need to look further into this issue because it definitely does help clarify what doing business in Zimbabwe really entails. Is there a business complicity in the chaos and looting of Zimbabwe and should business leaders be included on sanctions lists? By the way, does anyone have anything to share on this?