You might have missed this one. Hopewell Chin’ono controversial Zimbabwean journalist, shared some of his thoughts on the money mindset of a large number of black Zimbabweans.
By Hopewell Chin’ono
I posted a picture earlier on and some people suggested that I should replace the green sofa chairs.
I then realized that it was actually a teaching moment, a voluntary one i should add.
These sofa chairs are in my entrance hallway, and the other one is in my sun lounge.
They are dear to me because I bought them in 2003 from a friend who mentored me, Dr Eliah Munyikwa who unfortunately passed away some years back.
He sold them to me when he was leaving for the U.S. where he worked as a doctor in Maryland.
They hold sentimental value to me, but that is not the teaching moment.
The teaching is on how WE black Zimbabweans are fervent consumers, we love to spend our money on dead products instead of productive pursuits.
Let us assume that these sofa chairs didnât hold sentimental value to me, and that they were actually in my main lounge.
Tell me why I would need to change them and spend US$5000 on another set of sofas when the green ones are still as ok as they are?
Let us say I changed them in 2010 after 7 years of having them in my main lounge, the alternative would have been to buy US$5000 worth of shares on the London Stock Exchange.
In fact that is what an astute white Zimbabwean or astute black Zimbabwean would have done.
White Zimbabweans understood this decades ago.
Blacks are still investing money in fancy sofas, big TVs and cars whilst whites still drive their Mazda 626s, but leaving million dollar estates to their grand children.
In other words, they are creating generational wealth which underpins their businesses that we see on the right side of Harare drive whilst at times we build mansions using borrowed or looted money.
We have black people who understand this very well, and they should be looked up to especially by the young ones.
Philip Mataranyika who owns the Nyaradzo Group of companies invited me to his family home in Westgate.
He is a multi millionaire with investments in Zimbabwe, South Africa amd Europe, and beyond.
But walking into his home, I was struck by the brilliant lack of conspicuous consumption.
This is a family that has donated millions to good causes, but they had furniture as old as the one you would probably change if you are obsessed with naked consumption.
Everything that I do will be done with my eye into the future.
When I went back to the village, I said to myself everything that I do there should outlive me and the next 2 generations!
When I die, you will not be embarassed when you come to bury me, and there will be borehole water for the village 40 years when I am gone because I have invested in the initial infrastructure today.
It cost me the same amount to put that infrastructure in place as the money it would cost me to buy yet another set of sofas.
We must create wealth not riches, wealth is generational, riches are momentary.
Strive Masiyiwa is creating wealth, your mbingas created riches that once they die, they will disappear with them.
They are living for today like your corrupt politicians that is why they work hand in glove!
The little that I have, it has to be looked after not by buying unnecessary things, but investing in necessary things.
Sofa chairs, cars and related stuff are not things that should be bought as fast as you buy socks amd clothes unless need be.
To start with, look after your property well, and you wonât need to change it regularly.
Now someone who invested US$5000 on stocks in 2010 is probably US$100000 richer today, or a millionaire If he bought Bitcoin, the other one bought sofas.
Let me close this lesson with what my father taught me;
âSon, a man who bought a brand new Mercedes in 1971 as a priority over a home is probably retired at the village, renting or being looked after by his kids.
That Mercedes is rotting in some village or scrap yard, unnoticed and unceremoniously disposed of,â my father said.
âA man who chose to buy a home as a priority over a Mercedes, because the price of a Mercedes was the same as a home, probably is living in that home, or has bought more homes using that initial home investment as loan collateral,â he ended his analogy amd lecture to me.
He was telling me something that actually happened in my life.
In 2001 I came back home and bought a home, I also came back with a 1996 Volvo which I bought at a car auction for ÂŁ700.
Some of my friends chose to buy brand news cars and rented homes or apartments in Harare, some had to go back to London out of the embarassment of not owning their own properties after they hit hard times.
This lecture came from a sofa right, I can actually afford to replace it, but I wonât because it is still good, and more importantly because it holds sentimental value to me.
I bought it from my mentor, friend and school mate.
It also teaches us that before we prescribe what others should do, we should understand their story first!
I have learnt a lot through others;
In 2011 I bought a Mercedes CLK 320 convertible in London and shipped it home.
One Sunday morning,i met my late neighbor Dr Efison Munjanganja at the gate as he was driving out in his truck with his dear wife.
They were going to church, I was coming from the shops blasting 2 Pac with my roof down.
âStop,â he shouted! I duly stopped as I always enjoyed our gate-side conversations.
âThis is conspicuous consumption yana Chiyangwa chaiyo,â said Dr Munjanganja.
I was so embarassed, later I would make sure he is not by the gate every time I drove my convertible with its top down.
He was partly right, I sold the car for US$25,000 and took all the money and invested it into my goat project.
There is nothing wrong with treating yourself, just as long as you are not shortchanging other parts in your life.
I wouldnât replace things that donât need replacing, at least that is me.
This conspicuous consumption culture leads to looting and Corruption as people compete to outdo each other.
âMaona zviri kumba kwava nhingi here?â You probably know the story already.
Good reading & good day