malvernmugadzikwa
Sunday Mail Reporter
THERE is a critical need for Zimbabwe to harness the power of the fast-evolving technological revolution, which is a key driver for accelerated national transformation, development and uplifting of the masses from poverty, President Mnangagwa has said.
Speaking at the 10th edition of the CEO Africa Annual Roundtable in Victoria Falls last week, President Mnangagwa said it was important for both businesses and policymakers to embrace the Fourth Industrial Revolution, which he said is a vital tool for improving the lives of all Zimbabweans.
The focus on technology aligns with the Government’s Vision 2030, which seeks to achieve an empowered, modern, prosperous and highly industrialised nation within the next six years, he said.
The President highlighted the urgent need to leverage on technology as a catalyst for achieving this ambitious vision.
“Innovation and the use of information communication technology (ICT) are critical enablers as we traverse the journey towards modernising and reshaping the African continent’s economic landscape,” he said.
“We are currently standing on the brink of a technological revolution that is fundamentally altering the way we live, work and relate to one another, which is characterised by a fusion of technologies that is blurring the lines between the physical, digital and biological spheres.
“This technological revolution is disrupting almost every industry in every country, with changes that herald the transformation of entire systems of production, management and governance.
“As business and policy makers, we have to take advantage of the Fourth Industrial Revolution as it has the potential to
raise global income levels and improve the quality of life for populations around the world.”
He said it was, therefore, necessary for business to quickly adapt to the changing global marketplace demands through responding quickly and intelligently to changing market conditions.
“Through modernisation initiatives such as reimagining and upgrading outdated systems, applications and processes, you will be able to attain higher productivity and efficiency levels; enhanced customer experience; increased agility; innovation; cost savings, as well as improved product quality, among other benefits,” said the President.
“This should not only apply to private sector entities, but also to State-owned enterprises, which should increasingly take up their position of providing quality and affordable essential services, given their role as operators of critical national infrastructure and services.
“I equally call upon local authorities to complement such developments by adopting technologies for resource planning, procurement, project management and risk management, among others, which are all necessary for the development of smart cities that cater for the needs of the new normal which we are living in.”
He said financial service providers on the continent need to adopt innovative ways to foster enhanced financial inclusion and intermediation in ways that encourage savings from the general public.
“By ensuring that the banking public gets a positive return on their savings, more resources will be unlocked for on-lending to the productive sectors,” said President Mnangagwa.
“This ultimately restores confidence in the financial services sector.”
The Government, said the President, was fostering an environment conducive for business growth and development.
The ease of doing business environment in the country has been improving as a result of the broad measures being rolled out to enhance the country’s competitiveness and investment environment.
“Furthermore, the Second Republic has prioritised infrastructure development as one of its key deliverables,” he added.
“This includes such investments as rehabilitation and development of roads, as well as the construction of new and refurbishment of existing power generating plants, among others.
“Regionally and across the continent, vast investment opportunities exist in the renewable energy sector, as we accelerate the transition to clean energy as a pathway to a healthy and liveable planet.
“These include in solar, wind, hydropower, geothermal and biomass energy generation, among others.”
Online Reporter