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Bulawayo last week became the nexus of national economic thought, as the Zimbabwe Economic Development Conference (ZEDCON) 2025 brought together a diverse array of stakeholders to deliberate on the country’s economic future.
Running under the theme “Macroeconomic and Sectoral Policies for Broad-based Economic Transformation”, the high-level indaba was more than just a ceremonial gathering; it was a vital platform for aligning academic research with national policy formulation, all with the singular goal of accelerating Zimbabwe’s march towards Vision 2030.
As Deputy Minister of Finance, Economic Development and Investment Promotion David Mnangagwa aptly put it, ZEDCON, held from September 16 to 19, was a “crucible for shaping Zimbabwe’s economic destiny”.
In his opening remarks, Deputy Minister Mnangagwa set the tone with a “clarion call for bold, evidence-driven policy reform”.
He called for “honest and robust engagements grounded in facts and empirical evidence”, emphasising that “candid and constructive dialogue is a service not only to each other but to our beloved nation”.
This focus on evidence and collaboration was a core tenet of ZEDCON, positioning it as a key forum for translating research into tangible policy.
The deputy minister also underscored the indispensable role of the academia, stating that “research and academic institutions must be integral partners in this endeavour, contributing actionable and feasible insights derived from rigorous academic and empirical studies”.
The conference also yielded tangible results from its previous edition.
Professor Ashok Chakravarti, chief adviser to the Minister of Finance, Economic Development and Investment Promotion, credited ZEDCON 2024 with driving “tangible improvements in economic stability and shaping key policy directions”.
He revealed that the intellectual rigour of the papers presented created “better understanding of issues that enabled policymakers to deal with them”.
A stand out example from ZEDCON 2024 was a presentation on carbon credits, which directly influenced a policy change, resulting in the revision of the revenue-sharing model from an inequitable 70-30 split to a more balanced 50-50 arrangement.
The conference shone a spotlight on macroeconomic stability, a topic that was on everyone’s mind.
The Deputy Governor of the Reserve Bank of Zimbabwe, Dr Innocent Matshe, appealed for trust in the central bank’s leadership.
“We have to demonstrate that we can be trusted as policymakers, as a system and as the financial sector,” he declared.
Dr Matshe challenged critics to “judge us by our track record that we have”, pointing to a series of fulfilled economic forecasts, including the trajectory towards single-digit inflation.
“I can tell you for sure we are 100 percent on target or better,” he stated, reinforcing the bank’s commitment to delivering on its promises, including the inflation target of 30 percent by year-end.
Deputy Minister Mnangagwa also addressed the national discourse on debt sustainability.
He urged a shift away from “simplistic narratives that fail to capture the unique developmental challenges” of African economies.
He cautioned against blindly adopting externally driven recommendations, stressing the need for an in-depth interrogation of the “quality of our borrowing”.
He argued that “quality borrowing that will essentially pay for itself” was a strategic necessity, rather than a fiscal misstep.
The conference also delved into the transformative potential of technology and the vital role of the diaspora.
Experts from the University of Zululand, South Africa, presented a compelling case for accelerating artificial intelligence (AI)-ready infrastructure.
They argued that “AI adoption has a significant positive effect on Zimbabwe’s gross domestic product in both the short and long run”.
The experts urged the nation to “leverage AI for export diversification” by embedding it in key sectors like mining and agriculture.
Echoing these sentiments on the digital divide, Child President Lionel Mazarire raised a pertinent issue.
He warned that the lack of access to AI tools for rural learners created an “unjust” situation, as a “child in an urban area is given AI and digital tools, while a child in a rural area is not given that”.
However, both are expected to pass their examinations. His plea for inclusive digital infrastructure served as a powerful reminder that economic transformation must be broad-based and leave no one behind.
Discussions on diaspora investment were also prominent.
With thousands of Zimbabweans excelling abroad, ZEDCON highlighted the need to tap into this rich reservoir of skills and capital.
Zimbabwe Open University development studies lecturer Mr Charles Mushaka, drawing on international case studies from India, Ethiopia, and Ireland, proposed key strategies such as creating “incentives for diaspora business investment” and launching “diaspora bonds or investment funds to finance national infrastructure”.
He recognised the diaspora as “transformative partners in national development”.
Another crucial area of focus at ZEDCON was the need for institutional and legal reforms to support economic growth.
Insurance and Pensions Commission (IPEC) Commissioner Dr Grace Muradzikwa announced a landmark legal reform: IPEC had been empowered with “garnishing authority”, giving it the power to garnish the accounts of employers who are not remitting pension contributions.
This significant move is aimed at protecting workers’ retirement savings and restore public confidence.
The conference also tackled regional integration and trade.
Experts noted that Zimbabwe’s current trade system was “marred by legal fragmentation, institutional fragmentation and policy fragmentation”, a hindrance to leveraging its dual membership of the Southern African Development Community and the African Continental Free Trade Area.
This call for comprehensive reforms underscored the need for a cohesive approach to trade to unlock the country’s full potential on the continental stage.
As ZEDCON 2025 concluded, its central message was clear: Zimbabwe’s economic future is not a matter of chance, but of deliberate, evidence-based policy. It requires bold reforms, technological adoption, harnessing the power of its diaspora, and, crucially, the participation and trust of every citizen.
