Online Reporter
Nqobile Bhebhe, Zimpapers Business Hub
The prevailing economic stability ushered in by the Second Republic is not only benefiting consumers but has also emerged as a strong magnet for investors, Industry and Commerce Minister Nqobizitha Mangaliso Ndlovu has said.
Speaking at the Zimbabwe Economic Development Conference held in Bulawayo yesterday, Minister Ndlovu said the country was witnessing unprecedented levels of investor interest, underpinned by macroeconomic stability and sound monetary and fiscal policies.
“In terms of what is happening to this economy, I think under the Second Republic we have had the longest stable spell that we have ever experienced,” he said.
The Minister noted that the growing confidence in the Zimbabwe Gold (ZiG) currency was a reflection of deepening economic trust among citizens and stakeholders.
“There are people that have been telling me that they are looking for the ZiG because for the first time they know that they can keep their ZiG for months and it will still have the same buying power if not more,” he said.
Minister Ndlovu underscored the importance of sustained policy coordination as a catalyst for industrial growth.
“I am saying this because I mentioned the fiscal arm, I mentioned the monetary arm, if these support industry, then this economy is on its path to high growth,” he said.
He commended the stability achieved so far, describing it as crucial not only for everyday consumers, but also for the investment community.
“We fully appreciate the stability that has come. This stability is not only important for the general consumer, it is important for the investors,” he said.
Indicating the impact of policy consistency, the Minister said investor interest had surged significantly over the past year.
“We have seen high appetite for investment in the last 12 months. Of course, under the Second Republic we have recorded record investments in the manufacturing sector,” he said.
Minister Ndlovu said continuous capacity expansion across industries was a sign of confidence and momentum.
“That’s why I say capacity utilisation will be a moving target because there is expansion continuous expansion in capacity,” he said.
