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The African Development Bank (AfDB) through the African Development Fund has extended a $4,1 million grant to the Zimbabwean Government. The money will among other things be used to fund the reform of three State owned enterprises (SOEs) —Agribank, IBDZ and SMEDCO.

Government is scouting for a consultant that is expected to assist in reviewing and providing turnaround plans for the three SOEs which fall under the Ministry of Finance and Economic Planning. Parastatal reform is one of the key result areas being pursued by the new political dispensation as it is envisaged to lessen the burden on Government finances and facilitate economic growth.

Government is convinced that once the three SOEs start performing, this will help to stimulate key sectors of the economy.

Last month African Export-Import Bank (Afreximbank) announced a $1,5 billion economic stabilisation package to revive the country’s productive sector.

Afrexibank president and board of directors chairman Dr Okey Oramah said the bank was keen to support the stabilisation of the Zimbabwean economy by providing the currency liquidity and end bank queues.

He said under the fund, the bank will support the nostros of the different banks to ensure that those dealing in American dollars have access every time they need them to pay for goods.

Dr Oramah said the money provided by his bank was also meant to provide investment guarantees for investors as part of measures to entice them to invest in Zimbabwe. These developments are sending a very positive signal to the rest of the world that Zimbabwe is open to do business and is ready for new investment.

The year 2018 has therefore started well and the challenge to Government and the private sector is to keep up the momentum. There is a need to continue working towards improving the investment environment so that Zimbabwe becomes an investment destination of first choice in the region and beyond.

The new political dispensation has said it’s no longer business as usual.

We, however, want to warn Zimbabweans not to expect drastic changes overnight. Total economic turnaround cannot be achieved in just a few weeks or even months but will take some time hence the need for citizens to be patient.

What is not in dispute is that we are witnessing positive changes that are promising a bright future. The business community must complement Government efforts to turnaround the economy by upholding business ethics and striving to improve capacity of their businesses.

Zimbabwe needs to produce the bulk of its requirements and also produce for export in order to earn the much needed foreign currency. What is encouraging is that the new political dispensation has been endorsed by the international community which has already pledged to work with the new regime.

It is therefore incumbent upon each and every Zimbabwean to come on board and contribute to the building of a prosperous Zimbabwe.