ZIMBABWE’S vast mineral resources are a waste if the country lacks proper economic policies to tap into the wealth, former African Development Bank vice-president, Thomas Sakala has said.
The country has vast untapped mineral resources whose quantity is unknown as no exploration has been done.
According to the Zimbabwe Geological Survey, only 60% of the country has been geologically mapped in detail with the remainder being a grey area for exploration.
“Our 60 known minerals mean nothing if we don’t place our priorities right,” Sakala said at the recent Confederation of Zimbabwe Industries congress held in Gweru.
“We have well-articulated policies on paper, but it is the implementation that leaves much to be desired.”
He said although the country’s economy was in a turbulent state, there was need for government to come up with practical strategies to transform it.
Sakala said there was need to move away from the begging bowl syndrome in a bid to address the economic challenges.
“No economy can be transformed through charity,” he said.
“We have to strive for credible policies under the circumstances, we cannot industrialise using stand-by generators.”