AfDB commends economic reforms

AfDB commends economic reforms

The African Development Bank (AfDB) has expressed satisfaction with economic reforms that are being carried out by the Government to improve the ease of doing business in the country.

This was said by Mr Mbuyami Matungulu the spokesperson of a visiting AfDB delegation of executive directors that is in the country on a week-long visit to assess the economic environment.

Government has initiated several reforms to improve the business environment including the liberalisation of the foreign exchange market and the re-introduction of the mono-currency regime, while President Mnangagwa recently signed the Zimbabwe Development Agency Act that will create a one-stop shop to coordinate investments.

Mr Matungulu expressed satisfaction after meeting Finance and Economic Development Minister Mthuli Ncube and senior officials in the ministry.

“This is an information mission the board decides on some of the key operations including the ones that are destined to support reforms here in Zimbabwe so it was important for us to come and see how the authorities are dealing with challenges they are confronted with in trying to achieve macroeconomic environment stability including the role of business in the environment so that investment can do better,” Mr Matungulu said.

“I must say we have been impressed by the presentation by the minister and his team. To us what has been key in our interventions is the level of commitment of the authorities themselves to the reforms and I have to say we had the opportunity to feel the Government’s commitment in that front and we are pleased with the work they are doing.

“We look forward to continue with the good relations between Zimbabwe and the AfDB.”

In his remarks, Minister Ncube commended the AfDB for the support.

“These are some of the executive directors of the African Development Bank and they are here for the whole week,” he said.

“We have received very good support from the Bank in terms of resources that cut across sectors; you are looking at roads, irrigation infrastructure and the social sector.

“They gave us a sizeable chunk of resources to support the Cyclone Idai victims so we are very pleased with the support we have got from the Bank and as always they are our all-weather friends.”

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