The effect of social media on the work of Zimbabwean ambassadors to promote foreign direct investment in the Zimbabwe’s second republic

Abstract

The purpose of this study was to explore the effect of social media on the work of Zimbabwean Ambassadors to promote Foreign Direct Investment in the Zimbabwe’s Second Republic. The theory used in this side is the Constructivist theory. Qualitative research methodology and explanatory case study research design were used. Data was gathered from participants who worked in the Ministry of Foreign Affairs and International Trade, Multinational Companies operating in Zimbabwe, Zimbabwean Ambassadors and from members of the civil society. Questionnaires and telephone interviews were used to gather primary data from the respondents. The study revealed that, the decline of Foreign Direct Investment in Zimbabwe was a result of unstable political environment characterised by bad political governance practises, inconsistency government policies, violation of property rights and increased cases of political violence. Unstable economic conditions such as high inflation, unstable foreign currency exchange rate and inconsistency economic policies were also found to be other contributory causes to the decline of foreign direct investment in Zimbabwe. Political, economic, social and technological problems were found to be the major effects of the decline of Foreign Direct Investment in Zimbabwe. The Zimbabwean environment was found to be characterised by damaged reputation, reduced disposable income, high unemployment rate, increased poverty and poor technological development. Social media was found to be negatively affecting the work of Zimbabwean Ambassadors to promote Foreign Direct Investment due to its negative publicity which is increasing the isolation of the country by International Investors. The government of Zimbabwe is recommended to practise good political governance, respect the rights of investors, practise credible and fair elections, formulate supportive economic policies to create favourable political and economic environment to attract Foreign Direct Investment in the country. Social media is also recommended to be used to acquire views, opinions and expectations of investors so as to formulate laws, policies and regulations which are supportive to the promotional activities of the Zimbabwean Ambassadors to promote and attract Foreign Direct Investment in the country.