Natalie Sindile Nyathi,
Business Reporter
The Ministry of Finance and Economic Development delivered a public lecture on economic development under National Development Strategy 1(NDS1).
The lecture was delivered by the Finance Minister, Hon. Prof Mthuli Ncube yesterday at the National University of Science and Technology (NUST) in Bulawayo, Ceremonial Hall.
Hon. Mthuli encouraged more local contractors to be involved in the development of country saying that the government is doing everything possible to ensure that local and regional contractors get the best out of their investments.
Professor Mthuli assured students, who made the majority number in the lecture theatre that investments “are always safe in the country.”
This is despite that fact that the country is facing galloping inflation on its local currency and mistrust from the business community who lost a lot of their savings that was converted from the green back to the Zimbabwe dollar.
Many business entities are wary of the banking sector as they shun keeping their money there because of what happened previously.
The government withdrew the use of the multi-currency system of which the majority of funds were in the USA dollars and introduced a surrogate currency, the Bond Notes. The surrogate currency was to quickly erode by inflation and caused serious impact on business and citizens’ lives.
“Investments are always safe in the country”, stressed Prof. Ncube.
Addressing the media the finance minister said:
“Today l was able to engage with students from here at NUST (we thank the Vice Chancellor for hosting us), students from School of Mines, Poly Technic, Lupane State University and HillSide
Teachers College, they all came together and l was able to share with them what we as government see as the transformation that is taking place under the NDS 1, under the new dispensation”.
Prof. Mthuli said that the country, among other things, the country was now experiencing transformation in the agricultural sector and was basically self sufficient in terms of food security.
But the Zimbabwe Mail, reported that, ‘Mnangagwa… has extended a begging bowl to humanitarian organisations claiming that four million Zimbabweans from rural areas will be food insecure between January and March 2023 due to poor rainfall..’.
Prof. Mthuli went on to point out other areas that have undergone National transformation such as the economy in general, investment, mining and infrastructure.
“I was able to highlight the investment we see in the lithium platinum space, all this is moving our mining sector forward and we except it to grow at least 10% this year”
“We have experienced investments in the infrastructural space, the roads, the dams and various other infrastructure as well as housing.”
The Minister’s sentiments are contrary to what is on the ground as some few meters from the vast NUST complex Leopold Takawira Avenue, the gateway to South Africa, is unsafe to motorists and pedestrians as it is laden with serious potholes.
The same road took the life of veteran journalist Innocent Kurwa as his vehicle was involved in a headlong accident when that other vehicle encouraged onto his lane trying to avoid a gaping pothole.
Prof. Mthuli also claimed that there has been further development of cities as the devolution agenda produces results.
“We were also able to share our devolutuon agenda, our devolution is a game changer as we were able to see about hundred schools being built last year under devolution funding, the health centers that were built in Harare South, Cowdray Park, Zvishavane, Manyaro area, Chimanimani Area back to Mat South, we are going to build a district hospital, so all of this transformation and infrastructure is critical in the health sector”.
Mthuli went on to assure the nation that the government is working very hard to contain brain drain.
The country has seen many of its citizenry flee into the diaspora as the economy continues to tumble. Many doctors, nurses, engineers, teachers, the list is endless, have left in search of a better life.
“…and to make sure to work on the detention strategies and provide them tools of trade, drugs and quality infrastructure that is needed.”
Zim GBC News established that in the energy sector three hundred Mega Watts will be added onto the grid in the next few months from Hwange 7 thermal power, and an additional three Mega Watts at least by August from Hwange 8 if not earlier .
Mthuli has applauded the fact that at least 70% of products found in our shops are locally manufactured and that is transformation and that is what the economy is able to deliver to it’s citizens to show that vision 2030 of an upper level income is achievable.
Hon. Prof Ncube also said that if the rains continue then for sure there won’t be drought this year and the nation is guaranteed of a good harvest and that 3.9% growth rate in GDP should be the minimal that should be expected this year