shloboe boe
Nqobile Bhebhe, [email protected]
FINANCE, Economic Development and Investment Promotion Minister, Professor Mthuli Ncube, has reiterated Government’s commitment to combating corruption by empowering anti-graft agencies and reinforcing the value-for-money concept.
The value-for-money audits, adopted by the Government in 2022, aim to curb overpricing and forward pricing by some suppliers of ministries and Government agencies. These audits have saved the Government over ZWL$500 billion, ensuring that suppliers provide value for money without overpricing or forward pricing in procurement processes by ministries, departments, and agencies.
This intervention also addresses unethical behaviour exhibited by various suppliers and contractors who manipulate the foreign exchange market, leading to speculative pricing volatility. Authorities have blamed market indiscipline as a major drawback to Zimbabwe’s economic transformation.
In response, the Government has taken drastic measures, including loosening import regulations, allowing 100 percent forex retention on all domestic sales, and mopping up excess liquidity, among others, to restore macro-economic stability. Treasury and the Procurement Regulatory Authority of Zimbabwe have developed a National Price Index to guide public sector institutions on price ceilings in all procurement categories.
Speaking on the X platform on Thursday, Prof Ncube emphasised that the fight against graft will be accelerated.
“We are going to accelerate our engagement through the value-for-money concept. We insist on making sure that the contracts the Government engages in give citizens value for money. The Government is determined to deal with corruption by supporting commissions such as the Zimbabwe Anti-Corruption Commission (ZAAC), the police, and other law enforcement agencies to ensure we stem out corruption, including implementing the value-for-money concept in Government procurement.”
The fight against corruption is a critical pillar of Zimbabwe’s Vision 2030, which aims to transform the nation into an upper-middle-income society. Experts believe that by rooting out corruption, the Government can create a more favourable environment for investment, economic growth, and sustainable development.
