Zimbabwe’s President Emmerson Mnangagwa says the Southern African nation is on course to achieving a US$12 billion mining industry by 2023.
He also said Zimbabwe will increase its energy output by the end of 2022.
President Mnangagwa said this during Zimbabwe’s 42nd independence anniversary celebrations in the country’s second largest city, Bulawayo, on Monday.
“The mining sector has immense potential to spur socio-economic development and growth of our economy.
“Due to the responsive strategies, we are on course to achieve the target of a US$12 billion mining industry by 2023.”
Artisanal and small to medium scale gold miners, President Mnangagwa said, contributed 62 percent of gold deliveries in 2021.
Recently, Zimbabwe assumed the Vice Chairmanship of both the Kimberly Process Certification Scheme and the African Diamond Producers Association, subsequently becoming Chair in 2023.
The Zimbabwe leader said these portfolios will be leveraged to achieve maximum value from diamond mining.
Regarding energy, he said: “The provision of reliable and affordable energy and power is pivotal to performance across all sectors. The Hwange Power Station Expansion Project will soon add Unit 7 by end of this year.
“Accommodative requirements and incentives have seen more investments in solar and the renewable energy sub-sector towards the reduction of our carbon footprint and a broader energy supply mix.”
President Mnangagwa said capacity utilisation in the manufacturing sector has increased beyond 65 percent, resulting in locally-produced basic consumer goods constituting about 70 percent of products on the market.
“The development of rural industrialisation is being prioritised, leveraging on the various unique resources within our communities.
“Meanwhile, total exports are projected to grow by 10 percent this year, following the penetration of the export market by more of our businesses, including those at the grassroots level,” he said.
On devolution, President Mnangagwa revealed that ZWL$42 billion had been disbursed to ensure all the country’s regions take charge of their development.
“At central Government level, the Ministries of State for Provincial Affairs and Devolution have been re-focused with emphasis on the development and implementation of provincial economic development programmes, projects and plans.
“Dialogue and consultations are a cardinal value system of the Second Republic. Drawing from this, all stakeholders within our provinces are called upon to work together with greater cooperation and unity of purpose for the growth of our respective Provincial GDPs,” he said.
To ensure effectiveness of the arms of government, President Mnangagwa told the thousands gathered at Emagumeni that performance contracts signed by office holders will keep them on a leash.
“In all the endeavours of Government, the values of good governance, transparency and accountability to the people, will continue to be upheld,” he said.
For any nation to develop, President Mnangagwa said, the youth and women should be involved hence the establishment of their quotas in both parliament and local authorities.
“The proportional representation women’s quota in the National Assembly was extended, while a 30 percent women’s quota has been effected in our Local Authorities. Similarly, 10 seats have been reserved for the youth in the National Assembly.
“In line with our programme on youth empowerment, young people in various Districts throughout the country will benefit from the Vocational Training and Skills Outreach Programmes,” he said.
The 42nd independence celebrations are running under the theme: “Zim @42: Leaving noone and no place behind”.