Zimpapers Logo

Minister Bimha

Oliver Kazunga  Acting Business Editor
FUNDING the Zimbabwe Agenda for Sustainable Socio-Economic Transformation (Zim-Asset), which requires $27 billion, is the biggest challenge the country faces as it implements its five-year development programme, Industry and Commerce Minister Mike Bimha has said.Zim-Asset is government’s new economic development blueprint built around four strategic units, namely food security and nutrition, social services and poverty eradication, infrastructure and utilities, and value addition and beneficiation.

The above strategic clusters together with two sub-clusters, the fiscal reform and the public administration, governance and performance management will guide national development for the next five  years.

“The biggest challenge for the country is to fund the Zim-Asset and the Minister of Finance and Economic Development (Patrick Chinamasa) is working around the clock to find solutions to the issue of funding,” said Minister Bimha while responding to questions from the floor during the Confederation of Zimbabwe Industries regional review workshop on Zim-Asset in Bulawayo last week.

Earlier in his address Minister Bimha told participants at the workshop that the presence of a wide spectrum of key stakeholders from relevant government ministries who are the custodians of the Zim-Asset, Business Membership Organisations (BMO’s) and businesspeople among others was commendable as it would ensure success of the implementation of the economic development blueprint.

“Let me underscore at this juncture that, the blueprint remains flexible and open to new ideas in its implementation process to ensure that, it encompasses all critical  key pillars in driving the economy.  Successful implementation of Zim-Asset rests on, first and foremost, a shared vision, through a greater and committed working relationship between government and the private sector.”

He said the government’s sustainable funding from tax and non-tax revenues and re-engagement with the regional and multilateral financial institutions would also go a long way in providing funding for the implementation of the development programme.

Minister Bimha noted that Zim-Asset does not operate in isolation but rather its provisions were closely related to those of the previous strategic national documents.
He added that government was committed and determined to work with various economic players across all sectors of the economy in implementing Zim-Asset to ensure that economic targets outlined in the blueprint were achieved within set time frames.

Under the Zim-Asset, the economy is projected to grow by 7,3 percent. Overall assumption of the Zim-Asset among others include, continued use of a multicurrency system, improved liquidity in the country and access to credit by key sectors of the economy as well as the establishment of a Sovereign Wealth Fund.