Transforming Zimbabwe to a Private Sector-Led Economy
to public utilities and the supply chain. Government is paying close attention to institutional efficiency and policy design to further reinvigorate the private sector and its growth.
Already, the government’s steady strides towards change have had a positive economic impact. The overall economic growth for 2018 is sitting at a projected 6.3%, exceeding the initial projection of 4.5%, and an expected growth of 9% is projected for 2019. It is a renewed sense of business confidence that has already ignited segments of the economy and this has to be nurtured to further growth in the private sector and to keep the economy on track.
In the agricultural sector, the programme is focused on returning Zimbabwe to its original glory as the breadbasket of Africa. The measures support full recovery of the livestock market and provides benefits for improved supply along the livestock value chain. This is bolstered by initiatives designed to improve private sector support, which will reduce reliance on government. The introduction of bankable 99-year leases will grant farmers funding from financial institutions and there has been a marked improvement in access to markets for farmers.
The mining sector is receiving just as much attention. Closed mines are set to be re-opened while those that operate below capacity are to be expanded. Mining is already responsible for more than 70% of the country’s export earnings and this makes it critical for the economy.
Manufacturing will receive increased investment with an emphasis on value adds and the use of agricultural and mineral production to increase employment opportunities and export income. Government is set to roll out initiatives that partner both foreign and local investors so as to drive growth and collaborative opportunities. And throughout all sectors, there runs the thread of the small, medium and micro enterprise