Staff Reporter
Captains of industry and stakeholders should capitalise on the economic stability achieved under the Second Republic’s policies to expand operations and accelerate growth in 2024, Industry and Commerce Minister Mangaliso Ndlovu has said.
In his Christmas message, Minister Ndlovu urged Zimbabweans to prioritise locally made products to support industry, create jobs, and strengthen the economy.
“The new year presents an opportunity to address challenges in industrial growth while optimising the strong macroeconomic stability we have experienced in the last few months.
“I encourage your support for the inter-ministerial task force on business malpractice to combat counterfeiting and smuggling, which will enhance consumer protection and create a more stable business environment. Support local initiatives through the Buy Zimbabwe and local content strategy,” Minister Ndlovu said.
Minister Ndlovu commended businesses, development partners, the private sector, and consumers for their role in driving economic growth in 2024. He also emphasised the importance of collaboration between Government and stakeholders, underscoring the launch of the Zimbabwe Industrial Reconstruction and Growth Plan 2024-2025.
The plan, which received a ZWL$509 million allocation in the 2025 National Budget, aims to address issues such as competitiveness, the cost of doing business, innovation, and fostering links between large industries and SMEs. This initiative is part of Zimbabwe’s broader Vision 2030 goal of achieving an upper-middle-income economy.
Meanwhile, the Grain Millers Association of Zimbabwe national chairman, Tafadzwa Musarara, assured the public of sufficient supplies of grain-based products during the festive season. Despite 2024’s challenges, including drought and reliance on grain imports, the milling sector exceeded demand by 38.9%.
“The surplus supply has stabilised prices, ensuring affordability in both formal and informal outlets. Looking ahead, we remain committed to supporting local agriculture through contract farming and exploring new source markets to sustain affordability,” Musarara said.
He applauded Government’s policies, which align with international best practices, enabling the private sector to adapt effectively to challenges.
Minister Ndlovu also highlighted efforts to curb smuggling, which costs the country an estimated US$1 billion annually. Additionally, investments in electricity generation, particularly in the coal sector, are expected to ease power shortages by the end of next year, freeing more energy for manufacturing.
As Zimbabwe enters 2025, Government’s commitment to economic stability and industrial development provides a foundation for growth, with Minister Ndlovu calling on all stakeholders to engage actively and seize emerging opportunities.
