Zimbabwe strengthens private sector role in economic development drive

Zimbabwe is forging ahead with a private sector-led economic model, as the Government and business leaders intensify collaboration aimed at creating a robust and sustainable economy. The move is aligned with the country's ambition to attain upper-middle-income status by 2030 under the National Development Strategy 1 (NDS1), which will soon transition to NDS2.

This development follows the signing of multiple Memorandums of Understanding (MoUs) between the Government and Business Management Organisations (BMOs), providing a formal framework for consistent engagement and policy alignment between the public and private sectors.

At a high-level meeting held on Wednesday, Industry and Commerce Minister Mangaliso Ndlovu reaffirmed Government's commitment to working closely with the private sector to stimulate industrial reconstruction and economic growth.

"This is all about reviewing the engagements that are critical in facilitating the partnerships," said Minister Ndlovu.
"Our engagements were cordial as they set the tone for more cooperation, riding on the existing relationships, as well as the MoUs that were signed recently."

Ndlovu noted that the new policy framework under NDS2 will build on the gains of NDS1, ensuring that government initiatives are aligned with business needs and market realities.

"Today, I was meeting with BMOs together with the sub-sectors just to get an update on where we are in the implementation of the industrial reconstruction and growth plan," he said.
"We want to have a policy framework that speaks to each other and aligns with business interests."

The business community welcomed the Government's willingness to foster inclusive economic development. Confederation of Zimbabwe Industries (CZI) chief executive officer Ms Sekai Kuvarika stressed the importance of continued dialogue.

"The business community is there to work with the Government, and what we are doing today is to further explore engagements," said Ms Kuvarika.
"We shall continue to find each other based on the need to boost relationships and focus on economic growth."

Buy Zimbabwe general manager Mr Alois Burutsa added that consolidating the partnerships formed under the MoUs was essential to unlocking tangible benefits.

"A lot needs to be done to consolidate these engagements because we find them to be fruitful and cordial," said Mr Burutsa.
"We are committed to upscale the ties and focus on the job at hand, which is to review cooperation, identify loopholes, and focus on the way forward."

As the country targets a six percent economic growth rate by year end, the private sector's role is being positioned as central to achieving this milestone.

Economic analysts say that strengthening partnerships between Government and industry will be key to overcoming structural challenges, unlocking investment, and stimulating inclusive growth.

With the upcoming launch of NDS2, both parties are expected to maintain momentum in their engagement to ensure Zimbabwe's development agenda remains on track.

The evolving collaboration signals a renewed commitment to building a resilient economy capable of delivering prosperity and sustainable livelihoods in line with Vision 2030.