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Sikhulekelani Moyo, [email protected]

THE frequency and severity of climate change impacts pose a significant threat to the overall well-being of citizens by putting a strain on already scarce resources and exacerbating social and economic vulnerabilities, Finance, Economic Development, and Investment Promotion Minister Professor Mthuli Ncube has said.

Addressing delegates at the Africa Infrastructure and Built Environment Conference (Africonfex) in Bulawayo yesterday, Prof Ncube, who was represented by Mr Percy Takavarasha, chief director of expenditure management in the ministry, said the impacts of climate change are a significant threat to the well-being of citizens.

“They place immense pressure on resources and increase existing social and economic inequalities. In light of this, there is a pressing need to prioritise climate-smart infrastructure that mitigates these challenges while fostering sustainable growth,” he said.

Prof Ncube noted that with Africa’s urbanisation rate estimated at 3,5 percent over the last two decades and Zimbabwe facing rapid population growth, the country is grappling with a growing deficit in public infrastructure.

This includes increased demand for critical services such as health, education, energy, and sanitation.

“Globally, there is consensus that upscaling the climate action agenda requires that the means of the implementation, namely, climate finance, technology transfer, as well as capacity building be given utmost priority,” said Prof Ncube.

“In this regard, sustainable investment, particularly in climate-smart infrastructure will enable structural transformation to mitigate and build resilience to the effects of climate change and population growth.”

The African Development Bank (AfDB) estimates that Africa faces an annual infrastructure financing gap of US$68 billion.

Prof Ncube explained that public-private partnerships are critical in unlocking additional investments to bridge this gap and drive sustainable development across the continent.

In Zimbabwe, the climate finance gap is projected at approximately US$10,3 billion for climate adaptation and US$4,8 billion for mitigation by 2030, according to UNEP-LEAP (2024).

Prof Ncube acknowledged the challenges in carbon trading, with Africa contributing only 2 percent to the global voluntary carbon trading market, and stressed the need for substantial climate finance to ensure a just transition.

“In this regard, to cover the climate-related infrastructure financing gap Government is putting in place incentives for promoting investment in renewable energy in the country, an example of the Viability Gap Funding which is aimed to increase electricity access by developing off-grid community projects in rural areas,” said Prof Ncube.

He said under the Second Republic, Government continues to prioritise flagship infrastructure projects regardless of the limited fiscal space, while investment in large-scale infrastructure projects continues to be one of the cornerstones of NDS1.

The minister said already the Government is engaged in “built it better designs”, which are climate-proofed using new technology targeting the construction of residential flats, rehabilitation and upgrading of Government buildings including various staff houses and embassies.

The event, which was officially opened by Vice-President Dr Constantino Chiwenga was organised by Zimbabwe International Trade Fair (ZITF) Company in partnership with the Ministry of Transport and Infrastructure Development, running under the theme: “Resilient Cities, Thriving Africa: Building Sustainable Infrastructure for Economic Growth”. — @SikhulekelaniM1