In the latest Cabinet, Professor Mthuli Ncube was retained
as Finance and Investment Promotion. Prof Ncube, a technocrat was first
appointed Finance and Economic Development in 2018.
During the first term, the Government through the Ministry
of Finance and Economic Development 2018 launched a two-year Transitional
Stabilisation Programme (TSP) whose broad objectives brought macro-economic
stability.
Through TSP which was anchored on adopting austerity
measures as part of the interventions to stabilise the economy, the Government
was successful in bringing about fiscal consolidation on a sound footing.
The President also retained Lands, Agriculture, Fisheries,
Water, and Rural Development Minister Dr Anxious Masuka in the new Cabinet
where he is expected to continue leading that portfolio.
Zimbabwe, which has achieved national food self-sufficiency
is targeting a US$13,75 billion agriculture economy by 2025.
The growth of the agriculture sector is driven by the
successful implementation of the Agriculture Recovery and Growth Plan.
The plan which is aimed at engendering food security,
import substitution, diversified exports, and value addition, among others, was
launched by the Government in 2020.
Last year, Zimbabwe achieved a record high of 375 000
tonnes of wheat against this country’s annual requirement of 360 000 tonnes.
Another bumper yield of about 420 000 tonnes is also
expected this year.
In the tobacco sector, output reached a record high of 294
million kilogrammes this year with farmer organisations attributing this to
good agronomic practices and organised production and marketing of the crop
underpinned by robust policies the Government continues to implement.
In 2019, the Second Republic launched the US$12 billion
mining industry strategy by this year with gold, which is the major foreign
currency earner anticipated to contribute US$4 billion, platinum (US$3
billion), diamonds (US$1 billion) while chrome, ferrochrome, and carbon steel
will generate US$1 billion, and coal (US$1 billion).
Lithium is expected to contribute US$500 million while
other minerals will generate US$1,5 billion. Prior to the launch of the mining
industry roadmap, the sector’s contribution stood at US$2,7 billion in 2018 and
the figure has since registered phenomenal growth accounting for US$5,3 billion
in 2021.
Significant milestones expected to go beyond the NDS 1
targets are also expected from portfolios that include Industry and Commerce
whose Minister is now Dr Sithembiso Nyoni, Higher and Tertiary Education,
Innovation, Science and Technology; Skills Audit and Development whose Minister
is Professor Paul Mavima.
The Second Republic has also placed emphasis on
infrastructural development projects through the completion of the ongoing
works on major and feeder roads across the country.
The Government has also been financing other
infrastructural development projects such as the Gwayi-Shangani Dam, the US$1,5
billion Hwange Thermal Power Station projects whose Units 7 and 8 are already
feeding into the national grid with a combined 600MW.
The newly appointed Energy and Power Development Minister
Edgar Moyo is expected to drive the country towards improved power generation
by allowing more investors such as Independent Power Producers to invest in
electricity generation.
Other key portfolios expected to drive the country beyond
the NDS 1 targets include the Youth Empowerment Development Ministry which is
led by Minister Tino Machakaire who is also an entrepreneur in his own right,
Information Communication Technology Ministry also led by a youthful Minister
Tatenda Mavetera.
President Mnangagwa also separated the Ministry of
Environment, Climate, Tourism, and Hospitality Industry to ensure the two
economic sectors — tourism and environment realise their potential and propel
growth in the economy.
Under the new Cabinet, tourism which is one of the key
economic sectors after mining and agriculture, is now a standalone portfolio
presided over by Minister Barbra Rwodzi who was formerly Environment, Climate,
Tourism and Hospitality Industry Deputy Minister. Herald
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