daniel chigunwe
Nqobile Bhebhe
Treasury has capped the Ministry of Industry and Commerce’s budget allocation for 2025 at ZiG 255,318,000, significantly lower than their request of ZiG 855,221,000, a development expected to negatively affect the ministry’s operations.
For instance, the bids for the Zimbabwe International Trade Fair Company and the 2025 Osaka Expo were ZiG 8,526,000 and ZiG 10,032,000, respectively.
However, according to the Portfolio Committee on Industry and Commerce’s presentation at the 2015 Pre-Budget Seminar held in Bulawayo last week, the Treasury has allocated only ZiG 3,893,000 to the Zimbabwe International Trade Fair Company.
The 2025 Osaka Expo ceiling is at ZiG 2,000,000.
The ministry’s strategic priorities and areas of focus for the 2025 financial year amount to a budget bid of ZiG 855,221,000.
Treasury allocated a total ceiling of ZiG 255,318,000 for the budget, which is only 30 percent of the total bid.
Said the committee; “ZITF serves as a vital platform for promoting economic growth. It is also a strategic event that significantly contributes to the country’s development. Additional funding amounting to ZiG3,500,000 is required,” reads part of the report.
Cabinet recently considered and approved the proposed ZITF 2025 theme “Industrialisation: Crafting an Integrated Economic Landscape” set to run from 22 -26 April 2025.
On 2025 Osaka Expo, the committee noted, “The Global Platform offers a unique opportunity to showcase Zimbabwe’s industrial capabilities, attract foreign direct investment and foster partnerships that can drive sustainable economic development.
“It’s also a valuable opportunity to explore new markets hence the country’s participation should be adequately provided for.”
Zimbabwe is participating in Expo 2025 Osaka under the Connecting Lives Zone and will exhibit under the national theme “Beyond the Limit.”
Expo 2025 Osaka presents an unparalleled opportunity for Zimbabwe to showcase its cultural heritage, economic potential and investment opportunities on an international stage.
The committee said the ministry of Industry and Commerce is central to Zimbabwe’s industrial growth and economic competitiveness.
With 70 percent of the economy driven by the informal sector, the Ministry’s role in strengthening formal enterprises is critical for tax revenue and stability.
“In 2024, the Ministry saw achievements such as increasing export value for value-added products and hosting a record-breaking Zimbabwe International Trade Fair (ZITF). However, limited Treasury funding, with only 36 percent budget execution by September, poses challenges. Greater funding would empower the Ministry to expand its impact across industries, enhance employment, boost rural industrialisation, and contribute to Zimbabwe’s Vision 2030 and National Development Strategy 1, especially benefiting women, youth, and the wider economy.”
Bongani Ndlovu