Speaking to this publication after the official launch of the Zimbabwe Biodiversity Economic Report, Mr Washington Zhakata, the Director in the Ministry of Tourism and Hospitality said the Ministry has already sourced resources to set up a Natural Capital Accounting Office, which will be introduced next year.
“We will be documenting and collecting data and the resources will start coming from Jeff Resources next year in 2024. As a Ministry we have already started to budget through the Ministry of Finance and Economic Development because the Ministry of Finance is very keen to support us on this. The Tourism Ministry needs about US$7 million for the next four years for both internal and external resources because to collect data is very expensive, because as we do the analysis we use satellite data that is very expensive,’’ Mr Zhakata said.
The Director further said the NCA will be used to inform the development needs of the region or country by guiding policy on the environment and the economy and how to manage them sustainability.
He also said the country also expects to host more than 1500 delegates from more than 170 countries that are going to attend the 15th Ramsar Convention of Parties (COP) that will run from the 23rd to the 30th of July 2025 and that will be specifically on management of wetlands.
Meanwhile, the Ministry of Tourism and Hospitality has created sustainable partnerships with the University of Zimbabwe Geospatial Department in the development of the accounting office. Natural Capital Accounting is a comprehensive approach to account for changes in the stocks and flows of natural capital that is the natural resources. It offers a consistent framework for compiling and presenting data on the environment and how it affects or contributes to the economy.
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