Business - Economic Updates - Featured - Opinion - December 24, 2020

Second Republic scores economic achievements

By Kundai Mudzviti

President Emmerson Mnangagwa’s government has managed to score great achievements in the business environment after being ranked among the top five most improved African economies on the IBRAHIM Index on African Governance(IIAG).

IIAG is a tool that measures and monitors governance performance in Africa countries. It defines governance as the provision of political, social and economic public goods and services that every citizen has the right to.

Recently at the launch of the Zimbabwe Investment and Development Agency(ZIDA), President Emmerson Mnangagwa urged business players to attract investments, which establish competitive value chain industries through the exploitation of the opportunities availed by the National Development Strategy 1(NDS1).

Information, Publicity and Broadcasting Services Minister Monica Mutsvangwa said the new dispensation has witnessed progressive reforms, growth and development which are intended to ensure that Zimbabwe is an Upper Middle Income Economy by 2030.

“Recently, the IIAG which rates country’s performances across four components: Security and Rule of Law Participation, Rights and Inclusion, Foundation for Economic Opportunity and Human Development ranked Zimbabwe among the top five reformed nations over the past decade. The World Bank reported that for 2020, Zimbabwe improved its ease if doing business rankings by 15 places.

“As we close the book on TSP, we can see the progress that governments have made our economy expanding, our local currency is stable, stable prices, the ghost of hyperinflation has been exorcised, we are engaging and re-engaging allies and former friends, shedding off the pariah state tag in the family nations,” she said.

Economist Langton Mabhanga applauded the TSP for bringing about stability in the business environment in Zimbabwe.

“When the TSP was introduced as a two-year term its conditions and targeted achievements were overweighed by public expectations coming from the first republic where there were enormous expectations. However, the government in the midst of all those exposures managed to tackle all the demands within and during TSP,” he said.

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