Online Reporter
Peter Matika, Senior Reporter
THE 2026 National Pre-Budget seminar held in Bulawayo concluded yesterday, with parliamentarians urged to fully harness all sectors of industry, including the informal sector, to generate revenue for the national fiscus.
Speaker of Parliament Advocate Jacob Mudenda urged members of parliament to lead efforts toward enhanced domestic resource mobilisation and efficient tax administration.
The seminar was held under the theme “Enhancing Drivers of Economic Growth and Transformation Towards Vision 2030.”
Quoting the late Vice-President Dr Joshua Nkomo, Adv Mudenda said, “The resources of this country belong to the people of this country and they must benefit from them.”
He added, “That is why the late Tanzanian President Magufuli fundamentally restructured extractive industry contracts by compelling multinational corporations to remit exponentially greater value to the national treasury through taxing the extracted gross ore, instead of relying solely on payable royalties.”
Adv Mudenda emphasised that the Treasury should strictly adhere to President Mnangagwa’s call for value addition and beneficiation of the country’s natural resources.
“This implicitly calls for the urgent establishment of a national cadastral system, which is necessary for effective mining exploration,” he said.
He stressed that the 2026 National Budget must be driven by innovation, accountability and the utilisation of every available avenue to bolster national revenue collection.
“To achieve a robust budget, there is a need to accelerate domestic resource mobilization,” he said.
“The persistent gap between revenue generation capacity and expenditure requirements for optimal service delivery must be decisively addressed through innovative fiscal strategies.”
He expressed concern that, according to the National Micro, Small and Medium Enterprises (MSME) Survey, 85,7 percent of Zimbabwe’s 3,4 million MSMEs operate outside the formal revenue system.
This makes it imperative for Parliament to support Government efforts toward formalising the informal economy.
“By leveraging digital technology, that figure of 5 000 targeted MSME registrations can be significantly increased to boost revenue inflows,” he emphasised.
Adv Mudenda challenged the Zimbabwe Revenue Authority (Zimra) to adopt modern technologies to transform tax administration, improve efficiency and broaden the tax base.
“Parliament must also press Zimra to expedite efforts to leverage Artificial Intelligence (AI) in transforming tax collection and administration at border posts,” he said.
“Through predictive analytics, block-chain technology and automated compliance monitoring, AI can enhance administrative efficiency and encourage voluntary compliance across all sectors, including the informal economy. What are we waiting for?”
He further encouraged the treasury to explore alternative financing mechanisms, such as infrastructure bonds, Public-Private Partnerships (PPPs) and pension fund investments, to supplement tax revenue and ensure long-term fiscal sustainability.
“Beyond conventional tax revenue, infrastructure development requires exploring alternative financing models that augment Government resources while creating sustainable funding for long-term development,” he said.
Adv Mudenda also underscored the importance of maximising returns from the extractive industries, urging authorities to ensure that Zimbabwe’s natural resources benefit its people fully.
“The resources of this country belong to the people of this country, and they must benefit from them,” he reiterated.
“Treasury should strictly adhere to President Mnangagwa’s call for value addition and beneficiation of our natural resources.”
He concluded the seminar by reminding Parliamentarians that the 2026 Budget must not only balance expenditure and revenue but also reflect justice, inclusion and shared prosperity, as envisioned in Vision 2030.
Bongani Ndlovu