During the Heroes’ Celebrations in the capital yesterday, President Emmerson Mnangagwa underscored the resilience of Zimbabwe’s economy, which continues to register positive growth despite formidable challenges. These challenges include the impact of illegal sanctions, climate-related shocks, and global commodity price volatility. The President credited this economic progress to key milestones, including the successful introduction of the Zimbabwe Gold (ZiG) currency, record-breaking achievements in the agricultural and mining sectors, and strategic support for small and medium enterprises (SMEs).
To maintain the momentum of price stability achieved through the ZiG currency, the government will continue aligning fiscal and monetary policies. This strategy aims to secure economic gains and foster sustained development, ensuring that Zimbabwe’s economy remains on a positive trajectory.
The President also highlighted the remarkable performance of the agriculture sector, even in the face of El Niño-induced drought. The winter wheat cropping season has been particularly successful, with a record 121,982 hectares of wheat planted. Additionally, preparations for the 2024/2025 summer cropping season are already underway, focusing on restoring food security through increased production, supported by extensive irrigation infrastructure rehabilitation, expansion, and utilization.
The mining sector is another area of robust growth, driven by investments in both new and existing projects. President Mnangagwa emphasized the importance of value addition and beneficiation to fully leverage the nation’s mineral wealth, which was earned through the bravery of Zimbabwe’s heroes.
In the manufacturing sector, value addition and beneficiation activities have led to increased capacity utilization, now at 53 percent. This expansion has also created jobs that provide decent livelihoods, contributing to the overall economic health of the country.
Micro, small, and medium enterprises (MSMEs) continue to play a crucial role in promoting women empowerment and community development. Their increasing influence in the manufacturing and commercial sectors is driving further economic growth and social progress.
President Mnangagwa’s address highlighted the government’s commitment to building on these successes, ensuring that Zimbabwe’s economy remains resilient and continues to thrive in the face of ongoing challenges.
