Mudenda sounds the alarm on soaring imports

Speaker of Parliament Jacob Mudenda has called for a decisive national shift towards local production and consumption, warning that Zimbabwe's growing import bill is undermining industrial growth and economic sovereignty.

Addressing the Buy Local Conference in Harare, Mudenda said the country's widening trade imbalance reflects deep structural weaknesses that require urgent and coordinated intervention.

"The import bill continues to exert an inexorable stranglehold on the economy, draining foreign currency and steadily corroding the very foundations upon which national prosperity must be built," he said.

He revealed that imports have surged from US$4.5 billion in 2019 to a projected US$10 billion in 2026, with nearly US$800 million leaving the country each month.

"To place the figure in perspective, every single month, Zimbabwe bleeds enough foreign currency to fund multiple major national infrastructure projects," he said.

While exports are expected to grow modestly, Mudenda noted that their composition remains problematic, as they are largely dominated by raw or minimally processed commodities.

"This pattern reflects continued dependence on raw material extraction rather than the industrialisation and beneficiation paradigm shift required for lasting economic transformation," he said.

He warned that the imbalance is weakening domestic industry and turning Zimbabwe into a "dumping ground" for foreign goods.

"This insidious practice has systematically eviscerated the country's industrialisation agenda and entrenched a debilitating dependency that contradicts every foundational principle of national sovereignty," he said.

Despite the challenges, Mudenda said Zimbabwe already has the necessary legal and policy frameworks to reverse the trend, stressing that the key issue lies in implementation and national commitment.

"The challenge before Zimbabwe is not the absence of a legal architecture, but mobilisation of the collective national resolve to activate these mechanisms with unwavering commitment to economic independence," he said.

He emphasised that consumer behaviour will be central to driving change, urging citizens to prioritise locally produced goods.

"Every time Zimbabweans choose locally manufactured products over imported alternatives, they are casting a sovereign vote of confidence in their nation," he said.

Mudenda also called on government to lead by example through strict adherence to local procurement policies, particularly by ministries, departments and agencies.

"The Government cannot credibly call upon citizens and the private sector to buy local if it does not lead by example," he said.

He added that Parliament has a crucial role to play through oversight and legislation to reinforce the Buy Local agenda, in line with national development priorities such as National Development Strategy 2 (NDS2).

"Parliament must exercise vigilant oversight to ensure that all ministries, departments and agencies honour local procurement policies," he said.

As Zimbabwe works towards its Vision 2030 goals, Mudenda said success will depend on aligning policy, institutions and citizen behaviour around a shared economic vision.

"What is now demanded is the political will to implement these provisions with rigour and the social mobilisation to enlist every Zimbabwean as a conscious agent of economic emancipation," he said.