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Nqobile Bhebhe in Victoria Falls

PRESIDENT Mnangagwa yesterday implored citizens to tap into the country’s vast natural resources saying collectively Zimbabwe has the onus to build and improve its own internal capacities towards a modern and industrialised country in line with Vision 2030.

He said it requires hard honest work, dialogue and win-win partnerships for citizens to be lifted out of poverty as the country cannot afford to continue admiring the level of development in other countries.

Addressing delegates to the 9th CEO Africa Roundtable Conference in Victoria Falls, President Mnangagwa said despite the illegal sanctions imposed on the country at the turn of the millennium, Zimbabwe has managed to grow its economy.

“In spite of the albatross of illegal economic sanctions, we have managed to grow the economy, implement ease of doing business reforms and maintained a stable macro-economic environment albeit punctuated by various external shocks,” he said.

“It is my expectation that the private sector will rise and take up their strategic and important role of driving our country’s economic growth, modernisation and industrialisation to the next levels.”

The 2023 annual roundtable is being held under the theme: “Towards African Renaissance: Prospering through Smart Partnerships.”

The platform was created to engender cross-fertilisation of critical economic and business knowledge in and around Africa. It serves to empower members with a wide range of packages including researched data, synergies, investment facilitation and business and investment profiling.

CEO Africa Roundtable offers its members and business leaders space for in-person and digital events,  experts’ insights, enhanced connections and transactions as well as provide room for exchange of ideas and experiences.

President Mnangagwa said he was optimistic that the Second Republic’s first five years gave a clear direction to the business community and industry on a vision and direction of the country in line with Vision 2030 and National Development Strategy 1 (NDS1). 

He said it is imperative that the philosophy “ilizwe lakhiwa, libuswe likhulekelwe ngabanikazi balo” be echoed across all industries and sub-sectors to galvanise citizens to play their part in building their motherland.

“We can no longer continue to admire the level of development in other countries, we must build the Zimbabwe we want ourselves and that burden rests with all of us, Government, the private sector, micro-small and medium enterprises alike,” said President Mnangagwa.

The Second Republic is implementing a raft of measures aimed at continuously improving the ease of doing business environment through agencies such as the Zimbabwe Investment Development Agency (Zida) and other relevant institutions.

President Mnangagwa said such efforts are already yielding positive results. 

He noted that the country witnessed an increase in Foreign Direct Investment inflows in the mining, agriculture, manufacturing and tourism sectors.

“As we focus on our development agenda, we remain seized with opportunities under the Africa Continental Free Trade Area through private sector-led initiatives. I expect you, through the various sub-sectors to have traceable growth with regard to increased investments and the penetration into regional and global markets,” he said.

President  Mnangagwa said Zimbabwe is a friend to all and enemy to none hence the engagement and re-engagement economic policy which has seen the Second Republic cement closer ties with old and new trade partners.

He said these closer ties should translate into business and market growth opportunities for the private sector. “Our clarion call is for both local and foreign investors to invest in Zimbabwe across all sectors of the economy, leveraging on the abundant natural resources and the prevailing youth dividend,” he said.

The President challenged the private sector to take up facilities offered by Pan African financial institutions such as the African Development Bank, Africa 50 and the Afrexim Bank Group among other institutions to propel the industrialisation and modernisation of the economy.

He said some insights and evidence-based perspectives will be considered in the decision-making processes of both the private and Government towards the realisation of Vision 2023.

CEO Africa Roundtable chairman, Mr Oswell Binha said the business community embraces the engagement and re-engagement drive and members are willing to be involved.

“Your coming to power in November 2017 was a source of excitement along generational and political lines. We would want to build on this and reach out to all Zimbabweans to ensure that they have a buy in towards Vision 2030 and CEO Africa Roundtable is ready to spearhead the process,” he said.

Mr Binha said re-engagement was imperative as the country soldiers on towards the attainment of its vision.

“We must operate from a point of collective effort as we engage the outside world in terms of actually designing a very credible script that will tell a Zimbabwean story across all sectors of the society,” he said. Some of the issues discussed yesterday include Zimbabwe’s roadmap towards a Circular Economy, property market 2030 for retail, office, industrial and residential developments and bridging the gap between Governance and Economic Development in Africa.

Among those who attended the event were Industry and Commerce Minister Dr Sithembiso Nyoni, Matabeleland North Provincial Affairs and Devolution Minister Richard Moyo and senior Government officials.