daniel chigunwe
The 2024 ZNCC annual congress, held from June 28 to 30 at Elephant Hills Resort in Victoria Falls, served as a pivotal platform for dialogue among government officials, investors, business leaders, diplomats, civic society and the academia.
This flagship event of the Zimbabwe National Chamber of Commerce, focused on key economic issues facing Zimbabwe.
The resolutions from these discussions will inform ZNCC’s lobbying and advocacy efforts, contributing to policy formulation and implementation aimed at enhancing business viability and fostering accelerated growth.
Under the theme “Unlocking New Frontiers for Sustainable Industrialisation and Climate-Smart Business Growth,” the congress explored innovative strategies for driving economic prosperity while ensuring environmental sustainability.
By bringing together stakeholders from diverse sectors, the event facilitated the exchange of insights, best practices and collaborative solutions.
This year’s congress emphasised Zimbabwe’s commitment to sustainable development, highlighting the importance of energy efficiency, renewable energy and climate-smart business practices in sectors like agriculture and tourism.
As Zimbabwe continues to navigate challenges and leverage its renewable resources, the congress charted a course towards a greener, more resilient future for the nation’s economy.
DAY 1: Official opening
South African Chamber of Commerce President, Advocate Mthokozisi Xulu, among others.
Welcome to Victoria Falls and Matabeleland North province
Victoria Falls was described as a City embodying diversity and innovation, supporting businesses of all sizes, and prioritising infrastructure improvements and sustainable tourism practices.
Emphasising the empowerment of SMEs, identified as the backbone of Zimbabwe’s economy, the Mayor expressed gratitude to the ZNCC for choosing Victoria Falls as the venue.
The Mayor looked forward to insightful discussions shaping the future of the Zimbabwean economy, reinforcing the city’s potential as a key player in the nation’s economic landscape.
The welcoming address was well-received, setting a positive tone for the Congress and aligning with its theme of “Unlocking New Frontiers for Sustainable Industrialisation and Climate-Smart Business Growth”.
Furthermore, Kayela highlighted Matabeleland North’s rich endowment of lithium deposits and ecotourism opportunities and called on potential investors to consider investing in the province’s future economy.
He noted that Victoria Falls is home to the USD-denominated Stock Exchange, reinforcing the city’s status as a prime investment destination.
The remarks set a positive tone for the congress, emphasising the region’s readiness to adopt sustainable and innovative economic practices and promoting energy efficiency and the greening of the economy.
Conference welcome remarks
He emphasised that this year’s congress is not just a milestone but a grand celebration of the ZNCC’s journey, achievements and future prospects. Kamungeremu underscored the theme of the congress,
“Unlocking New Frontiers for Sustainable Industrialisation and Climate-Smart Business Growth,” as a call to action to embrace innovation, sustainability and resilience.
He highlighted the strides made during his tenure, including forging stronger local and international partnerships, advocating for favourable policies, supporting groundbreaking initiatives, and prioritising sustainability.
Despite challenges like currency instability and high inflation, Zimbabwe’s impressive GDP growth of 5,3 percent in 2023 demonstrated the nation’s economic resilience.
The ZNCC remains committed to economic governance, structural reforms and inclusive growth, aligning with the National Development Strategy 1 (NDS1).
Looking ahead, Kamungeremu expressed excitement about the opportunities for Zimbabwean businesses and confidence in overcoming global economic challenges through collective effort.
He urged active participation in the congress’ discussions and activities to harness collective wisdom for sustainable industrialisation and climate-smart practices.
Kamungeremu concluded by expressing profound appreciation to ZNCC members, stakeholders and partners for their unwavering dedication and commitment, acknowledging their vital role in the success of the congress and the ZNCC’s ongoing mission.
Solidarity message
Advocate Mtho Xulu, representing the South African Chamber of Commerce and Industry (SACCI), delivered a powerful message of solidarity at the 2024 ZNCC Annual Congress. He emphasised SACCI’s commitment to cooperating with the Zimbabwe National Chamber of Commerce (ZNCC) in influencing policy across the Southern African Development Community (SADC) and fostering mutual trade and joint investments. Advocate Xulu highlighted key areas of collaboration, including energy, infrastructure, manufacturing, and beneficiation.
He expressed enthusiasm for the congress’s theme, “Unlocking New Frontiers for Sustainable Industrialisation and Climate-Smart Business Growth,” and looked forward to engaging in insightful discussions that would benefit the region’s economic landscape.
Update on the 2023 ZNCC Annual congress resolutions
The ZNCC has been instrumental in fostering public-private partnerships, advancing the implementation of the African Continental Free Trade Area (AfCFTA), and campaigning against corruption.
The ZNCC’s efforts have significantly contributed towards a conducive business environment, reflecting its commitment to sustainable industrialisation and inclusive economic growth.
Unlocking new frontiers for sustainable industrialisation and climate-smart business growth
Kallon detailed strategies for sustainable industrialisation, including the adoption of green technology to reduce carbon footprints, leveraging Zimbabwe’s abundant sunlight for green energy, and implementing efficiency measures.
He advocated for strong partnerships among academia, industry, and government to scale up excellence in new industrial frontiers.
Additionally, he emphasised climate-smart business growth strategies such as promoting a circular economy, enhancing sustainable agriculture, and conducting sustainability audits to ensure ethically produced goods.
Kallon highlighted the challenges of accessing capital for greening the economy and called for international partners and financiers to support sustainable infrastructure projects through risk insurance, investment funds, and public-private partnerships.
Looking forward, Kallon urged the implementation of the Sustainable Development Goals (SDGs) across sectors, integrating them into national budgets and business practices.
He stressed the importance of technology transfer, agribusiness value chain development, and enhancing trade capacity to address the dual challenge of industrialisation and climate change.
He called for enhanced international cooperation, both South-South and North-South, to build resilience, enhance innovation, and level the playing field.
Kallon invited ZNCC members to join the UN Global Compact, committing to ethical business practices, and reiterated the UN’s support in prioritising people and the planet for a sustainable future.
Remarks
Hon. Mutsvangwa also outlined government initiatives aimed at enhancing SME resilience, including leveraging Zimbabwe’s agricultural potential for foreign currency generation and bolstering food security through strategic dam infrastructure.
She emphasised the Government’s proactive stance in embracing innovations like artificial intelligence (AI), with Harare poised to become Africa’s AI hub.
The Minister encouraged SMEs to capitalise on these advancements, stressing the importance of sustainable industrialisation, community empowerment, and partnerships to foster a thriving business environment conducive to both local and international investors.
Key note address and official opening
Minister Nqobizitha M. Ndlovu delivered a compelling keynote address at the 2024 ZNCC Annual Congress, highlighting Zimbabwe’s pivotal moment in pursuing sustainable industrialisation and climate-smart business growth. Emphasising the congress theme, “Unlocking New Frontiers”, Minister Ndlovu underscored the importance of innovation and collaboration to steer Zimbabwe’s economy towards resilience and prosperity.
Acknowledging the Chamber’s role as a stalwart of economic development, he commended their efforts in positioning Zimbabwe competitively on the global stage.
While addressing a diverse audience of entrepreneurs and stakeholders, Minister Ndhlovu emphasised the government’s commitment to fostering an enabling environment for business growth.
He outlined ongoing initiatives, including the forthcoming Zimbabwe National Industrial Development Policy, designed to propel economic advancement while prioritising environmental stewardship.
Reflecting on Zimbabwe’s adherence to international agreements such as the Paris Agreement, he highlighted initiatives promoting energy efficiency and renewable energy adoption among local industry players, crucial for mitigating climate change impacts across sectors like agriculture and tourism and also adhering to Nationally Determined Contributions (NDCs).
In closing, Minister Ndlovu expressed gratitude to development partners and underscored the private sector’s pivotal role in mitigating climate challenges and ensuring food security amidst recurrent droughts. He called upon businesses to uphold ethical practices and contribute actively to Zimbabwe’s economic resilience.
With optimism and resolve, Minister Ndlovu concluded his address, confident that the congress discussions and collaborations would chart a course towards a sustainable and prosperous future for Zimbabwe.
Question and answer session
During the question-and-answer session at the 2024 ZNCC Annual Congress, several key discussions and insights emerged. Linda queried how the congress theme aligns with the Zimbabwe National Industrial Development Policy (ZNIDP) and the progress of policy drafting by the Ministry.
Minister Ndhlovu emphasised the alignment of policies with National Development Strategy 2 (NDS2) and highlighted the Industrial and Reconstruction Growth Plan aimed at preparing Zimbabwe’s industrial sector for accelerated growth and reducing reliance on raw material exports.
Prof Chifamba from the University of Zimbabwe raised the importance of integrating universities into the Ministry of Industry and Commerce’s efforts, underscoring their role in innovation and job creation.
Minister Mutsvangwa echoed this sentiment, emphasizing the need for tertiary institutions to foster entrepreneurship and innovation through innovation hubs and incubators.
Various participants, including Joan Virima from CBZ, Prof Marian Tukuta from the Chinhoyi University of Technology, and Ms. Ethel Bangwayo from UNDP Zimbabwe, discussed the role of funding in supporting small players and renewable energy initiatives aligned with the Sustainable Development Goals (SDGs). Minister Ndhlovu acknowledged the availability of funds earmarked for such critical projects and emphasised the importance of well-crafted proposals from industry to effectively leverage available resources.
The session also addressed broader issues such as transitioning from fossil fuels, marginalised community support in agriculture, and the impact of regulatory frameworks on industrial growth plans.
Minister Ndhlovu stressed the need for coherent regulatory frameworks that enable rather than hinder industrial development, signalling a commitment to addressing policy inconsistencies that could impede progress.
Overall, the question-and-answer session highlighted the collaborative efforts needed between Government, academia, and industry to foster sustainable industrialisation and economic growth in Zimbabwe.
This article was prepared by the ZNCC for Business Weekly
Bongani Ndlovu