Chronicle Editor
Sukulwenkosi Dube-Matutu, Chronicle Reporter
THE Ministry of Finance and Economic Development has warned members of the public against false and malicious messages circulating on social media inviting entrepreneurs to submit applications for financial aid as part of the economic recovery programme in the wake of Covid-19.
In a statement yesterday, the ministry said the messages allege that the Department of Local Economic Development has partnered with the International Economic Development Council and Africa Investment Forum to provide financial grants for citizen-owned businesses.
Government availed the $18 billion Covid-19 stimulus and rescue package last year of which about 72 percent was meant for reviving production and business while 28 percent was for further upgrades of health services.
“The Ministry of Finance and Economic Development has noted with grave concern, some messages which are circulating on social media inviting entrepreneurs to submit applications for financial aid as part of the economic recovery programme in the wake of Covid-19.
Further the messages cite a non-existent Economic Empowerment Act No.9 of 2020 and S136 of 2019, which talks about Financial Services Authority (Regulatory Sandbox Exemption). The address used on the adverts suggests a connection with the Ministry of Finance and Economic Development.
“The public is advised that the ministry doesn’t have a Department of Local Economic Development and the cited individuals are not ministry officials. The messages are hereby declared false and should be regarded with the contempt deserved,” reads the statement.
The ministry further urged the public to ignore any malicious messages and in particular to check the authenticity of any information propagated on social media before sharing personal details in order to avoid loss of private information as well as actual and potential financial loss.
“In order to bring the perpetrators to book appropriate actions to determine the origins of the messages is being pursued through the relevant law enforcement agencies,” reads the statement.
A number of sectors within the country have been gravely affected as a result of the Covid-19 pandemic.
The Covid-19 stimulus and rescue package, which constitutes nine percent of Zimbabwe’s Gross Domestic Product, cuts across all productive sectors and seeks to ensure that they get the critical liquidity to kick-start operations and protect jobs.
The social side of the package is aimed at strengthening and expanding existing social safety nets and up-scaling investments in social and economic infrastructure, including recovery of assets destroyed by floods.
The $18 billion stimulus package was broken down as follows: Agriculture support ($6,08 billion), Working Capital Fund ($3,02 billion), Mining Sector Fund ($1 billion), Small to Medium Enterprises (SMEs) Support Fund ($500 million), Arts Sector Fund ($20 million), Liquidity Release from Statutory Reserves ($2 billion), Health Sector Support Fund ($1 billion), Broad Relief Measures ($1,50 billion), Food Grant ($2,40 billion).
Under Vision 2030, the Second Republic envisages an upper middle-income economy.
Already Government has set the tone towards Vision 2030 by restoring macro-economic stability under the Transitional Stabilisation Programme (TSP), which ran from 2018-2020.
Riding on the gains of the TSP, the Government has launched the National Development Strategy 1 (NDS1) to anchor the economy from 2021-2025 after which a second five-year National Development Strategy will be rolled out from 2026-2030. — @DubeMatutu.
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