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All eyes focused on Minister of Finance – Nehanda Radio



By Tendai Kamhungira

Although it is expected that everyone in the office of President Emmerson Mnangagwa will start, it is the Minister of Finance, Mthuli Ncube, who has the most difficult mission to accomplish.

Professor Mthuli Ncube
Professor Mthuli Ncube

Mnangagwa has recently announced his 20-person cabinet, which has merged with new faces, and hopes for a better future.

Many believe that Zanu PF's leader has struck the right chord by assigning Ncube to the Ministry of Finance whose job is to achieve a rapid economic recovery that will ultimately help open up industries and create jobs .

Zimbabwe has suffered almost 20 years of economic collapse, causing millions to flee the country in search of greener pastures abroad.

Over the years, several companies have been shut down, leaving thousands of people unemployed, while the cost of living has long been at a high level.

Political analyst Stephen Chan said that the Ministry of Finance plays an important role in the future of the country.

"Without doubt, the Ministry of Finance is the key, but despite its technocratic credentials, the new Minister of Finance has given contradictory signals about the abolition of bond banknotes and the eventual reintroduction of a Zimbabwean dollar.

"The latter can not really be possible without a productive basis in the country's economy – otherwise a Zimbabwe dollar has no value internationally, Zimbabwe has a huge import bill and payment for import requires a currency with recognized value," Chan said.

The country currently uses a basket of currencies, including the US dollar and the South African rand, as well as a banknote with a surrogate currency.

However, since the introduction, the bond loan has declined in value compared to other international currencies, despite the fact that the Reserve Bank of Zimbabwe has linked it to 1: 1 with the US dollar.

Although the debenture was initially advertised as an export incentive, it later became a regular currency and was eventually traded on the black market.

This has resulted in the scarcity of bond loans, which was also exacerbated by the current cash shortfalls that the Minister of Finance must immediately address.

Ncube has said that he has three options for tackling the country's cash crisis, namely removing the bond and merging the Rand Monetary Union, or introducing a local currency or completely abandoning the use of the US dollar. take.

"So his main task in the short to medium term must be to ensure a larger inflow of US dollars – but he has not explained in great detail how this can be done, and in fact it will be very difficult to do. will flow to Zimbabwe, but important international budget support will only come after a larger part of the country's foreign debt has been paid off, settled or rolled over, "Chan said.

The Ministry of Finance is central to the economic development of the country and its effectiveness will help to increase the operations of other ministries that have difficulty to make a mark.

Political analyst Rashweat Mukundu also believes that the Ministry of Finance is important in the development initiatives of the country.

"I think the focus will remain on the Ministry of Finance as a driver of economic reforms and hopefully growth." The most important point for Professor Mthuli Ncube is whether he will receive the required political support from ED (Mnangagwa) or whether he will will find it difficult.

"What is needed is sincerity from ED about the reforms and his team can then go along with the agenda, and it is equally important whether Zanu PF extravagance is brought under control so that the government can save and support crucial sectors," Mukundu said.

In previous years, the government of former President Robert Mugabe did not accuse the government of dealing with corruption by ministers, so that the economy of the country was at the expense of only a few men and women.

Mukundu said that culture may not have changed.

"So far in power over pillage and great life, ED and its ministers can prove that we are wrong on this reality," he said.

Although the Ministry of Finance is such a crucial ministry to help the country move forward, there are also other critical ministries that need to work hard and improve their respective portfolios.

The Ministry of Health and Childcare is currently in the center of attention after the outbreak of cholera in Harare and other parts of the country.

The outbreak has so far claimed the lives of more than 20 people, making it one of the sectors that need critical attention, in addition to its long history of dilapidated infrastructure. Most government health care institutions run without adequate medication and good facilities.

The rate of HIV / Aids infection is still high, with 15 percent of the population infected with the virus.

Critics have called on the new Minister of Health and Childcare, Obadja Moyo, to urgently address the problems the ministry is facing.

Other ministries such as Information, led by Monica Mutsvangwa, must also be urgently renewed in terms of the alignment of laws and the opening of ether waves. Zimbabwe currently has one TV station, 38 years after independence, making the media industry less competitive.

"As a journalist, I hope that Mai Mutsvangwa has the task of reforming a very backward media industry in Zimbabwe, will she have the courage to lead permanent secretary George Charamba or will she be led by them? Will she have the courage to to grow Zimbabwe's media to reflect our diversity or will it see the media of narrow lenses and Zanu PF's retroactive point compared to the rest? "Mukundu asked.

The Ministries of Foreign Affairs and International Trade, Tourism, Sports and Recreation, Transport and Local Government also have the task of working hard.

The Ministry of Sport is full of serious problems, as is the Ministry of Local Government, which is trying to deal with burgeoning illegal suburbs.

The Ministry of Tourism has to jack up the battered image of the country, while the Ministry of Foreign Affairs has to work on reorganizing Zimbabwe with the international community, after years of isolation. Daily news


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