2020: Anchor for Zim’s success
Lovemore Chikova
Development Dialogue
Covid-19 hit our shores with devastating consequences in 2020, affecting business and ultimately slowing the development trajectory set by President Mnangagwa’s Government.
We are not yet out of the woods with regards to this disease, but there is hope and optimism that 2021 will bring better tidings.
Although Covid-19 played some tricks on the country, it was not all doom and gloom when it came to the implementation of developmental programmes.
If I was allowed to name 2020 in developmental terms, I would call it “The Anchor of Development in Zimbabwe”.
For it was indeed the year in which the country set the base for future development and made all the fundamentals right as a prerequisite for a massive take-off in development.
SHAME MAKOSHORI
The ZSE’s fungible titans were among the casualties of a terrifying crackdown on business by authorities, which dampened investor confidence and wiped $240 billion in potential revenue.
But the brief closure in June only amplified an already difficult crisis for the bourse.
Many firms had already embarked on plans to de-list and go private, saying it was no longer viable to maintain a listing.
Again, that was bad for a stock market that had been hit by a listing drought stretching over a decade, which triggered questions about the relevance of the ZSE in a rapidly shifting market place.
Prof. Mthuli Ncube
MINISTER of Finance and Economic Development Professor Mthuli Ncube says 2021 will be a better year for Zimbabwe pinned on the projected positive performance of the agricultural sector.
Prof Mthuli Ncube was speaking to CNBC Africa Chief Editor Godfrey Mtizwa on a special economic programme.
He said the country has experienced negative growth owing to climate change-induced drought, COVID-19 pandemic though a positive growth rate of 7.4 percent will be registered next year.
“We expect a better 2021, we had a negative growth due to the pandemic and climate change-induced drought but next year we have projected a 7.4% growth. We are going to achieve this by taming inflation and stabilising the exchange rate. The growth projection is pinned on a better agricultural season which will mean better power supply for local industries,” he said.
(Pixabay) On the wondrous effects of dollarization in one Zimbabwean city.
Zimbabwe’s economy has gone through the wringer. In just 20 short years, it has witnessed two episodes of hyperinflation. And, if that wasn’t bad enough, Zimbabwe’s real GDP per capita has plunged by 21 percent over that same period.
When you visit Zimbabwe’s Victoria Falls on the Zambezi River, you will find that it is still one of the Wonders of the World in the traditional geomorphological sense. But, you will quickly discover that it is also an economic Wonder of the World. Indeed, when you enter the town of Victoria Falls, it’s as if you have walked into an alternative African economic universe. Victoria Falls is an island of stability in Zimbabwe, a country that has descended into monetary and fiscal chaos. How could this be?
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