By Ebi Kesiena
President Emmerson Mnangagwa has expressed confidence in the turnaround of Zimbabwe’s economy this year, attributing it to the recent discovery of oil and gas near the country’s border with Mozambique and Zambia, along with improvements in the mining and tourism sectors.
In a New Year message broadcasted on national television and social media to both Zimbabweans at home and in the diaspora, Mnangagwa highlighted positive developments shaping a prosperous future for the nation.
He reported that the mining sector had exceeded its 2023 target of $12 billion, and Zimbabwe had achieved food self-sufficiency.
Mnangagwa also noted the increasing number of local and international tourists visiting the country, emphasizing investments in new tourism products and facilities. He welcomed the discovery of oil and gas in Muzarabani, seeing it as a confirmation of Zimbabwe’s potential as a future gas producer to meet the growing energy demands of its expanding economy.
Despite Mnangagwa’s optimism, economists remain cautious, especially as Zimbabweans continue to emigrate.
Reacting to the President’s speech, Gift Mugano, an economics professor at Durban University of Technology, expressed concern about the country’s reliance on agriculture and the potential impact of a drought. Additionally, he cited global food price increases due to the Russia-Ukraine war, which may affect Zimbabwe’s economy negatively.
According to the World Bank, the primary reason for Zimbabweans’ migration is the search for economic opportunities. The 2022 census reveales that a significant majority (84%) of the approximately 908,000 emigrants had left the country in pursuit of employment, while 5% migrated for education or training.
