The rise of informal entrepreneurs in Zimbabwe: evidence of economic growth or failure of economic policies? Online publication date: Wed, 02-Jul-2014
by Esinath Ndiweni; Helen Verhoeven
African J. of Accounting, Auditing and Finance (AJAAF), Vol. 2, No. 3, 2013
Abstract: This paper investigates whether the rise in the number of informal entrepreneurs in Zimbabwe is linked to economic growth or failed government policies. It argues that for the past 30 years informal economic activities have proliferated at an unprecedented rate as a response to socio-political and economic challenges and thus became a default position, for many to escape debilitating poverty. It draws from the literature, the experiences of one of the authors who is a Zimbabwean and views of interviewees. The major finding is that the contribution of informal traders in Zimbabwe cannot result in sustainable development nor can it significantly increase economic growth. The paper concludes that the rise in informal sector business is rather indicative of a lack of accountability for the plunder of resources and its attended consequences and failure of government economic policies. Finally, it proposes the adoption of social entrepreneurship approaches to address social problems.
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