‘Private sector must lead economic transformation’ 

Source: ‘Private sector must lead economic transformation’ – herald

Mukudzei Chingwere in VICTORIA FALLS

THE private sector must play a leading role in economic transformation, Vice President Dr Constantino Chiwenga said here yesterday.

Officially opening the Zimbabwe National Chamber of Commerce (ZNCC) annual congress that ends tomorrow, VP Chiwenga said Government remains committed to providing a stable and enabling environment for business to thrive.

He said the country is endowed with abundant natural resources, a youthful, skilled population and a resilient private sector.

“All these attributes complement Government’s efforts in unlocking our full economic potential. I encourage the private sector to be proactive and take a leadership role in this economic transformation journey. Strategic collaboration and partnerships are vital for policy refinement and alignment with market realities.”

The congress brings private businesses and policymakers under one roof to champion economic development.

It is running under the theme: “Unlocking business potential through policy, partnerships and productivity.”

VP Chiwenga said the Second Republic was committed to sustaining macroeconomic stability. “Encouraging signs are already evident in exchange rate discipline and rationalised pricing frameworks. These developments position Zimbabwe as a more attractive and reliable investment destination.

“We are driving the ‘Manufacturing-for-Manufacturing’ initiative under the Ministry of Industry and Commerce, aimed at increasing local content and import substitution.

“This approach will fortify our industrial base and reduce supply-side vulnerabilities.”

VP Chiwenga urged business leaders and policymakers to take advantage of the ZNCC congress to forge new alliances.

“Let’s walk forward from this congress with renewed determination, strategic focus, and a collective resolve to transform Zimbabwe’s economic landscape,” he said.

“Our success lies in unlocking policy-driven growth, fostering inclusive partnerships and embedding a culture of professionalism, transparency, productivity, and excellence.”

VP Chiwenga challenged the business community to engage the executive and legislature so that their concerns are addressed.

He also acknowledged that some business laws might be archaic and hindering business, hence the need to engage the legislature to have such laws repealed or refined to meet current needs.

The VP also called on businesspeople to be ethical and shun corruption.

“Real businesses are built through hard work, discipline, sacrifice and value creation,” he said.

Reserve Bank of Zimbabwe Deputy Governor Dr Innocent Matshe assured the business community that the central bank had an adequate supply of foreign currency to support local enterprises.

The ZNCC welcomed VP Chiwenga’s presence at the event, highlighting that his participation signals a strong political commitment to fostering industrial and economic growth.

Representatives from chambers of commerce across Africa, including those of Kenya, Malawi and Zambia, also attended the congress.

They shared a unified message of promoting industrial development and collaboration across the continent.

The official opening ceremony was attended by the diplomatic community, including country representatives from the United Nations system and the European Union.