Desmond Munemo, H-Metro Reporter
…economists speak out
In these economically challenging times, where do people get money to party, travel and merry-make on a weekly basis?
Merrymakers partied to the fullest during festivals and parties held over the weekend in Harare despite economic challenges as economists have their say.
The weekend was filled with pomp and funfare across the city as the main events, Castle Lager National Braai Day at the Old Hararians Sports Club took centre stage.
Across town, there was also the Braai Out fete at Kingfisher Park which attracted hordes of party animals at a time when many people are failing to make ends meet.
Economists contacted by H-Metro had their say on the outgoing lifestyle of revellers spending lots of money on cars, food and beverages in the midst of economic challenges.
Economist and businessman Tongesayi Murape said the demographics suggests that the younger generation in the informal sectors is flaunting cash and cars in these events.
“The economy is more informal and is serving these young people some of whom are money-changers and car dealers.
“The calibre of people seen at these braai festivals tells you that many of them are money spenders just showing off and if you ask them how they earn their living you might not get the right answer.
“Rather than just spending a lot of money, why can’t they channel it towards production, like buying mining equipment, it’s nothing but showing off,” said Murape.
Christopher Mugaga, another Chief economist and business leader, said it is cheaper for people to go out at places such as Family 24 and Braai festivals.
“These places being referred to are actually cheaper and you will find middle to upper class people there.
“Instead of going to Indonesia and overseas, people would rather go merry making and fun to places such as Junction 24 as a substitute.
“The majority of the population is in rural areas, 80 percent of it, and we’re just 20 percent so we are not a representation of the population,” he said.