Online Reporter
Oliver Kazunga
Senior Reporter
THE sustained single-digit inflation and a stable Zimbabwe Gold currency have created a firm foundation for the country to attract billions of dollars in private capital for smart infrastructure, the Reserve Bank of Zimbabwe has said.
In his remarks while officially closing the 2026 Zimbabwe Economic Development Conference (ZEDCON) in Bulawayo on Friday, Reserve Bank of Zimbabwe (RBZ) Deputy Governor Dr Innocent Matshe said the prevailing macro-economic stability must now be translated into roads, dams, airports and energy assets that will drive the country to an upper-middle-income society by 2030.
“There is currently sustained macroeconomic stability in the economy characterised by low single-digit inflation and a stable exchange rate,” he said.
“The stability has resulted in greater confidence in the domestic currency, monetary and fiscal policies among investors and other economic agents in the country,” he said while speaking on behalf of the Government and the monetary authority.
“The country’s various economic players are encouraged to embrace the prevailing favourable macroeconomic conditions in their concerted efforts towards building and utilising the key transformative infrastructure needed to sustain the country’s high positive growth trajectory.”
The remarks come as Zimbabwe has maintained ZiG annual inflation below five percent for eight consecutive months since January this year, with inflation hitting a 46-year low of 2,9 percent in August before moderating to 3,7 percent in September due to global oil prices above US$100 per barrel.
The ZiG has traded between ZiG25 and ZiG27 to the greenback in the second quarter, with the parallel market premium falling below 20 percent.
The stability has seen the RBZ Monetary Policy Committee on September 28 cut the policy rate from 30 percent to 27,5 percent, citing anchored expectations.
Reserve money is within International Monetary Fund (lMF) Staff-Monitored Programme targets, monthly ZiG inflation averaged 0,4 percent for the January-September period, and forex inflows jumped 37,8 percent to US$14,3 billion to August.
RBZ projects that annual inflation would stay below seven percent by December 2026, but import cover remains at 1,7 months against the required six months for a mono-currency transition.
Dr Matshe noted that the Government alone cannot deliver the scale and sophistication of infrastructure required to transform the economy.
“A particularly important message emerging from this conference is that smart infrastructure requires smart institutions, smart financing and smart partnerships,” he said.
“Government alone cannot deliver the scale and sophistication of infrastructure required to transform our economy.
“We need stronger collaboration among Government, the private sector, academia, and development partners.”
The ZEDCON 2026, he said, had demonstrated that infrastructure was not simply about roads, bridges and buildings, but about creating an efficient, connected, productive and resilient economy that improves quality of life.
“The discussions have underscored the importance of integrating technology, innovation, sustainability, climate resilience and efficient public investment into our infrastructure development,” Dr Matshe said.
ZEDCON 2026 was held under the theme, “Smart Infrastructure for NDS 2”.
NDS 2, which is anchored on the 2026 National Budget, lists 10 pillars, including improved quality of life, modern infrastructure and adequate housing.
Presentations at the conference pointed to recent successes including the rehabilitation of the Harare-Masvingo-Beitbridge Highway, expansion of Robert Gabriel Mugabe International Airport and construction of mega dams.
Dr Matshe said the true measure of the conference will not be the quality of discussions, but the extent to which they inform policies, investments and institutional reforms.
“As we leave this conference, our responsibility is to translate ideas into action,” he said.
“The true measure of ZEDCON 2026 will not only be the quality of the discussions held here, but the extent to which those discussions inform policies, investments, programmes and institutional reforms that improve the livelihoods of all Zimbabweans,” he said.
He commended President Mnangagwa for providing strategic direction, and thanked researchers, development partners and private sector representatives for shaping the national policy dialogue.
“The journey towards a prosperous and empowered Upper Middle-Income Society is a national endeavour.
“It requires vision, determination, innovation and collective action,” said Dr Matshe.
