Prosper Ndlovu, National Editor
ZIMBABWE continues to consolidate macro-economic gains into structural transformation with the economy demonstrating remarkable resilience, as it navigates successive domestic and external headwinds, Finance Minister Professor Mthuli Ncube, has said.
Speaking at the 2026 Annual Conference of the Chartered Governance and Accountancy Institute in Zimbabwe (CGIAZ), which ended in Johannesburg on Friday Prof Ncube said the positive economic indicators were reflective of deliberate fiscal and monetary measures as well as disciplined business approaches.
Already, recent Government and international agency reports depict macro-economic indicators reflecting an accelerated growth in 2025, propelled by mining, favourable commodity cycles, and a strong agricultural recovery, which momentum has spilled over into 2026.
Fiscal and monetary discipline have, in turn, fostered price and exchange-rate stability, whilst local-currency inflation was moderated significantly through the first half of 2026, said Prof Ncube.
“These gains have earned the country international validation. In its August 2026 review, the International Monetary Fund recognized Zimbabwe’s ongoing stabilization, low inflation and robust current account balance.
“Similarly, the World Bank’s September 2026 Zimbabwe Growth and Jobs 5 Report noted that real economic growth averaged nearly six percent annually between 2021 and 2025,” he added.
“These achievements are a testament to what disciplined policy, coordinated execution, and national resilience can yield.”
However, Prof Ncube clarified Government’s recognition that macro-economic stability is not an end in itself.
Rather, he emphasised, “Stability is merely the platform, which needs to be converted into accelerated production, modern infrastructure, sustainable employment and elevated living standards for every citizen.”
Under the National Development Strategy 2 (2026–2030), he said Government is already implementing measures that proffe a transition from recovery to transformation.
To drive this next phase, Prof Ncube said focus is on key strategic priorities that include: strengthening domestic resource mobilisation while designing tax frameworks that incentivize investment, formalization and growth, expanding investments into energy generation and transmission, transport corridors, digital connectivity and irrigation.
“Infrastructure projects are not mere capital items—they are the bedrock of national competitiveness,” said Prof Ncube.
He said other key priorities are value addition and beneficiation as Zimbabwe drives to move decisively up the value chain.
“Zimbabwe must export manufactured products, refined minerals and processed agricultural goods, not merely unrefined raw materials,” said Prof Ncube.
Meanwhile, Zimbabwe is also pushing SMEs integration and formalization by crafting a predictable, streamlined business ecosystem that enables informal enterprises to graduate into structured, growth-oriented businesses with access to capital and formal markets.
“Economic growth must ultimately be measured by its tangible human impact, dignified jobs, rising household incomes and expanded opportunities for our youth and women,” said Prof Ncube.
“The World Bank estimates that accelerated structural reforms could unlock up to 230,000 new jobs by 2040, an opportunity we cannot afford to miss.”
Other focus area cover: Moving from an Expenditure Culture to a Performance Culture, Prudent Public Financial Management, Accrual Accounting International Public Sector Accounting Standards (PSAS)), Consequential Audit Oversight as well as State-Owned Enterprises (SOEs).
“Public entities sit at the nerve centre of our economy. Weak performance in SOEs imposes a tax on the entire private sector, strong performance unlocks national productivity.
“Board members must remember that they are custodians of public trust, not merely overseers of meetings,” he said.
On navigating global and technological shifts, Prof Ncube said national transformation occurs against a dynamic global backdrop where the African Continental Free Trade Area offers unprecedented market access. However, he noted that market access yields result only for enterprises that are productive, well-governed and audit-ready.
Prof Ncube also spoke on the need to mainstream Environment Sustainability and Governance.
“Sustainability reporting cannot be treated as a green-washed public-relations exercise. Investors demand credible, verified data on environmental resilience, carbon impact and social governance,” he said.
“Automation and artificial intelligence offer vast benefits for fraud detection, revenue administration, and predictive analytics.
“Yet, boards cannot outsource moral duty or strategic judgement to an algorithm. Ethical responsibility remains entirely human.”
The event brought together governance and accounting leaders, regulators, policymakers, corporate executives and development partners to deliberate on matters that are key to Zimbabwe’s economic transformation.
It ran under the theme: “Better Governance, Better Future.”
