Siphakeme .Mnindwa
Judith Phiri, Business Reporter
ZIMBABWE’S ambition to become an upper-middle-income economy by 2030 is firmly on track, as the National Development Strategy 1 (NDS1) exceeded targets for all key economic indicators as it comes to a close this year.
NDS1, which spans from 2021 to December 2025, has laid a solid foundation for National Development Strategy 2 (NDS2), set to cover the years 2026 to 2030. Together, these two five-year plans aim to realise Vision 2030.
Last year, the Government initiated a consultative process to evaluate major economic activities across the country, utilising this input to guide the formulation of NDS2.
In September 2024, Cabinet approved the roadmap for NDS2, following notable achievements under NDS1, including fiscal consolidation, reforms in monetary policy, liberalisation of the foreign exchange market, structural and governance reforms, infrastructure development, engagement and re-engagement initiatives, investment promotion and support for productive sectors.
The blueprint for NDS2 is expected to take 18 months to finalise and is anticipated to be complete by November this year. A review of the performance reports from NDS1 reveals that the Government has not only met but surpassed established targets across various economic development indicators. This positions Zimbabwe closer to realising its goal of becoming an upper-middle-income economy.
Driven by a vision for rapid and sustainable economic development, President Mnangagwa has set Zimbabwe on a path to achieve upper-middle-income status by 2030. Individual sectoral targets have been established in key areas such as agriculture, mining, tourism and manufacturing, contributing to the broader national economic goals set by the President.
Despite facing challenges from the Covid-19 pandemic that affected global economies, President Mnangagwa’s administration has successfully navigated these hurdles to ensure Zimbabwe’s resilience.
Commenting on the infrastructure development projects outlined in the 2025 National Budget, which play a crucial role in NDS1’s success, Dr Shynet Chivasa, an institutional business analyst at Lupane State University praised the budget’s strategic priorities.
“Key infrastructure initiatives, such as the roads upgrading and rehabilitation program, are essential. The budget allocated ZiG27,5 billion towards ongoing road projects, which is a positive development. Modernising our road network will help attract more investment,” she said.
In the Matabeleland region, Dr Chivasa highlighted that upgrading Joshua Mqabuko Nkomo International Airport to a world-class facility will significantly enhance the tourism sector by boosting visitor arrivals.
Ms Sithabile Bhebhe, vice-chairperson of the Bulawayo Chamber of Small to Medium Enterprises (SMEs), also voiced support for the water and sanitation projects outlined in the 2025 National Budget, which are vital for achieving NDS1 targets.
“As stated in the budget, the Government will allocate funds for the implementation of the Lake Gwayi-Tshangani, which is crucial for Bulawayo. Currently at 50 percent completion, once finished, it will greatly alleviate our city’s water crisis,” she noted.
She further mentioned that the dam could provide water for agricultural purposes as well.
In the manufacturing sector, Mr Emmanuel Sibanda, a lecturer and researcher at the National University of Science and Technology (Nust), emphasised the need for increased local production to reduce the import bill.
“It is crucial for Zimbabweans to purchase locally produced goods. Manufacturers should also prioritise using local raw materials, which will significantly contribute to import substitution,” he said.
He stressed that an economic policy promoting domestic production over foreign imports is essential for meeting NDS1 targets and fostering local industrialization.
To date, NDS1 has achieved notable gains across all 14 priority areas, with current efforts focused on identifying gaps to ensure the full realisation of policy objectives.
The key national priorities established by NDS1 include economic growth and stability, food security and nutrition, governance, enhancing the economy’s value chain, structural transformation, human capital development, environmental protection, climate resilience, natural resource management and improving housing delivery.
Finance, Economic Development and Investment Promotion Minister, Professor Mthuli Ncube has stated that a country’s economic progress should be assessed not only by the financial well-being of its citizens but also by the positive impacts of infrastructure and community development projects.
He also indicated that NDS2 will encompass strategies and interventions to guarantee sustainable, inclusive growth, innovation for modernisation and industrialisation, climate change adaptation, poverty eradication and the promotion of sustainable livelihoods for vulnerable members of society.
