Sikhulekelani Moyo
Zimpapers Business Hub
THE nexus between economic policy and national security is essential to Zimbabwe’s economic development and stability, Finance Minister Mthuli Ncube has said.
Minister Ncube said this while addressing defence chiefs during National Defence Course 15 of 2026 at the Zimbabwe National Defence University on Wednesday.
The presentation was themed “The Nexus Between Zimbabwe’s National Economic Policy and National Security”. It explored how economic stability underpins national security and resilience.
The Treasury chief highlighted how unemployment, poverty, food insecurity, inequality and weak public service delivery can create vulnerabilities that threaten national stability if not addressed through sound economic policy.
Zimbabwe’s economic stability since 2024 has been primarily anchored by the introduction and management of the structured ZiG currency, backed by gold and foreign exchange reserves.
Disciplined monetary and fiscal policy execution has also been key in controlling money supply growth, entrenching stability through anchored inflation and a stable exchange rate.
Minister Ncube said the National Development Strategy 2 (NDS2) and the national budget are vital instruments for addressing these potential vulnerabilities.
He said the 10 strategic priorities of NDS2 are designed to strengthen economic, food, energy, technological, social and institutional security as Zimbabwe advances towards Vision 2030.
Minister highlighted that Zimbabwe recorded 8,3 percent economic growth in 2025, with the economy projected to grow by five percent in 2026.
He noted that growth across agriculture, mining, electricity, transport and other sectors demonstrates the importance of broad-based economic expansion in securing national stability.
“Food security remains a national security priority,” the minister said.
The Government is strengthening agricultural resilience through a six-pillar strategy, the minister said, encompassing strategic grain reserves, climate-smart agriculture, integrated financing and insurance, livestock development, agricultural inputs and enhanced coordination, including cloud seeding.
On the prevailing currency stability, Prof Ncube highlighted the importance of coordinated fiscal and monetary policies, disciplined public expenditure and responsible liquidity management.
He noted the sharp decline in annual inflation from 95,8 percent in July 2025 to single-digit levels of 4,3 percent in October 2026 alongside improved exchange-rate stability.
“The stability of the Zimbabwe Gold (ZiG) currency has been critical in anchoring expectations and restoring confidence,” Minister Ncube said.
He also emphasised the importance of securing Zimbabwe’s strategic mineral resources through value addition and beneficiation.
Mining contributes approximately 16 percent to gross domestic product, making it essential that mineral wealth translates into employment, foreign currency earnings, reserves and sustainable national development.
The minister highlighted growth in Government revenue, fiscal discipline and ongoing efforts to resolve the country’s public debt and arrears.
He also pinpointed infrastructure investment, including roads, dams and rural electrification, as essential to strengthening water, transport and energy security.
Looking ahead, Minister Ncube said the 2027 National Budget will prioritise economic resilience against climate-related and global shocks while accelerating economic transformation.
He emphasised that sustainable development requires sound public finances, productive sectors, strong institutions and effective resource mobilisation.
In his concluding remarks, Minister Ncube delivered a key message to the senior military officers: “Economic policy is national security policy.”
He emphasised that the professionalism of the country’s defence systems must be complemented by a disciplined budget, a credible currency and productive farmers, miners and workers.
The National Defence Course brings together senior officers from the security sector, Government and regional allied nations to interrogate strategic issues linking defence, development and national security.
