by Tendai Matunhu

Minister of Finance and Economic Development, Professor Mthuli Ncube has revealed that Government intends to create a private sector led economy in the country stressing that there are plans underway to privatise the banking assets owned by Government.

In an interview on the sidelines of the World Economic Forum 2020 in Davos with Bloomberg, Minister Ncube also highlighted that Zimbabwe was making huge strides in creating a favourable environment to conduct business.

“We will be privatising the banking assets that we own, we are going to make a lot of progress this year and we want to make sure that we really create a private sector led economy in Zimbabwe.

“It is not surprising that we have actually improved in terms of the environment for doing business by 15 places last year and we are determined to keep improving on that so we want to improve the environment on doing business and privatisation is part of that story, creating a more private sector economy,” he said.

In 2018, Minister Ncube outlined a strategy to privatise struggling enterprises through listing on the Zimbabwe Stock Exchange (ZSE) and forming joint ventures, which is what the Government is now doing by creating a private sector led economy.

During the same interview, Minister Ncube also informed that Government was injecting cash into the economy slowly and also making great progress to provide affordable basic commodities. 

Minister Ncube indicated that investors should believe in Zimbabwe because it walks the talk. He highlighted that month on month inflation is going to be stabilised and dropping as Zimbabwe is on its way to dealing with inflation though it will take time.

Davos is a platform where business and world leaders sell their economic viability, economic dreams and plans that are underpinned by a living reality that the world media can easily and openly audit in real time.

President Emmerson Mnangagwa did not attend the forum as he had to attend more pressing domestic issues.