Staff Reporter

The Minister of Finance, Investment Promotion, and Economic Development, Professor Mthuli Ncube has called for greater Public-Private Partnerships (PPPs) to drive infrastructure development and economic resilience in the face of climate change.

Speaking at the Zimbabwe Economic Development Conference (ZEDCON) 2024, held in Victoria Falls recently, Minister Ncube emphasised that these partnerships were crucial for mobilising resources, particularly for climate-proofing key sectors such as agriculture and energy.

“We need to build strong foundations for our economy by working closely with the private sector. The Government cannot do this alone, especially as we face the pressing challenges of climate change, which threaten our progress,” said Minister Ncube.

The Minister stressed that climate-proofing agriculture was essential for food security and economic stability, particularly as Zimbabwe faces frequent droughts and unpredictable rainfall patterns.

“Our agricultural sector, which is the backbone of our economy, is vulnerable to climate variability. We must invest in smart agriculture and irrigation systems,” he said.

In addition to agriculture, Minister Ncube noted the critical need for energy self-sufficiency as the country navigates the global energy transition. He indicated that Government policies would continue to support renewable energy investments, but also emphasised the importance of a balanced energy mix.

“We will continue to develop our renewable energy sector, but we also need to secure base-load energy from non-renewable sources like coal to guarantee a stable energy supply,” Professor Ncube said.

The Minister further discussed the potential for carbon financing and other innovative financing mechanisms to support the country’s development.

“I encourage all private sector involvement in these efforts, calling on businesses to invest in projects that align with Zimbabwe’s climate resilience goals,” he said.

Meanwhile, the ZEDCON 2024 conference, themed “Building Resilience and Driving Economic Transformation under Climate Change,” brought together stakeholders from various sectors to explore strategies for addressing the adverse effects of climate variability on Zimbabwe’s economy.