Zim News Blog -NEWS NETWORK

Source: Banking sector rebuilds public trust – herald

Business Writer

Zimbabwe’s stable banking sector, anchored by prudent monetary policy, has reinforced public confidence in savings, supported by a sound financial system marked by low non-performing loans, controlled money supply growth and a stable macroeconomic environment.

Presenting the 2026 Mid-Term Budget Review in Parliament on Thursday, Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube said disciplined monetary management had safeguarded financial sector stability while fostering an environment that supports savings and investment.

He said reserve money continued to grow at a measured pace of about 20 percent, while broad money supply increased by 30,6 percent from ZiG108,1 billion recorded in December 2025.

This development comes as Zimbabwe’s stable inflation environment has created the conditions for stronger-than-expected growth, with the economy expanding by 6,8 percent in the first quarter of 2026, putting it on track to outperform the Government’s initial full-year growth forecast of 5 percent.

The Minister said the local currency component of reserve money rose by 30,4 percent from ZiG5,9 billion during the period, remaining comfortably within the Reserve Bank’s target for the second quarter of 2026.

“On monetary developments, monetary stability has been maintained. The restrained growth in monetary aggregates has ensured that exchange rate and inflationary pressures continue to move in line with GDP growth and regression targets,” Minister Ncube said.

The stable monetary environment has played a key role in protecting the value of savings after years of exchange rate instability and high inflation had weakened confidence in the financial sector.

Minister Ncube said the banking sector remained robust, providing a strong platform for financial intermediation and supporting economic expansion.

“As at 31 March 2026, the banking sector comprised 382 banking and non-bank financial institutions,” he said.

He noted that the sector remained safe and resilient, with the ratio of non-performing loans to total loans standing at 3,64 percent, well below the internationally recognised threshold of five percent.

Total banking sector loans and advances reached approximately ZiG85 billion by the end of June 2026, reflecting continued lending to productive sectors of the economy.

Minister Ncube said Zimbabwe’s capital markets also maintained positive momentum during the first half of the year, with both the Zimbabwe Stock Exchange and the Victoria Falls Stock

Exchange recording sustained trading activity that contributed to higher market capitalisation.

He attributed the resilience of the financial sector to coordinated fiscal and monetary policies that have kept inflation and exchange rate movements under control.

The minister also highlighted stronger fiscal performance, revealing that the Government collected ZiG137,8 billion in revenue during the first six months of the year, while expenditure amounted to ZiG123,6 billion.

He said the resulting budget surplus was directed towards servicing public debt and clearing outstanding obligations to service providers, demonstrating the Government’s continued commitment to fiscal discipline and macroeconomic stability.

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Source: Govt unlocks US$400m for infrastructure development – herald

Oliver Kazunga-Senior Reporter

GOVERNMENT is establishing an Infrastructure Development Fund to unlock US$400 million for critical road projects, easing pressure on the fiscus, while accelerating Zimbabwe’s modernisation and economic transformation agenda.

Infrastructure development has taken centre stage under President Mnangagwa’s Government, with construction gathering momentum across the country.

The financing is expected to accelerate the completion of major highways, improve regional trade corridors and reduce pressure on Treasury resources.

The financing initiative, which was announced by Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube, while presenting the 2026 Mid-Term Budget Review Statement in Harare last week, marks a major shift towards leveraging private and institutional capital to fund strategic infrastructure.

This comes after the Government channelled ZiG11,8 billion towards infrastructure development during the first half of the year, with investments targeting transport, energy, irrigation, schools, hospitals, water and sanitation, ICT and other productive sectors.

Prof Ncube said the Government was adopting innovative financing mechanisms to sustain the country’s infrastructure development momentum without placing excessive strain on public finances.

“Going forward, in order to ease pressure on public finances, Government is working on establishing the Infrastructure Development Fund which will leverage additional resources from local, regional and international institutions, against identified revenue streams, towards infrastructure rehabilitation and development targeting energy, irrigation, schools, hospitals, rail and roads sectors,” he said.

The latest financing model also reflects the growing capacity of local financial institutions to fund strategic national projects, following the recent US$125 million syndicated loan arranged by seven banks for Mutapa Gold Resources’ Shamva Hill Open-Pit Project.

The historic transaction represents a major vote of confidence in the country’s economic transformation agenda as local financial institutions demonstrated their growing capacity to finance large-scale investments that traditionally-depended on offshore capital.

The Treasury head said the Government had already begun mobilising resources under the new financing framework.

“As part of this initiative, an arrangement has been made with local financial institutions to mobilise a US$400 million loan towards completion of the remaining 33 kilometres on the Harare-Beitbridge Road, rehabilitation of the Harare-Chirundu Road and Bulawayo-Victoria Falls Road, among other high priority road projects.

“Already, US$100 million has been secured and is awaiting fulfilment of conditions precedent. The repayment of loans will be ring-fenced from collections from ZINARA (Zimbabwe National Road Administration),” said Prof Ncube.

He said transport remained one of the country’s key economic pillars because of its role in facilitating domestic and regional trade, attracting investment, creating employment and improving connectivity.

The Construction Industry Federation of Zimbabwe (CIFOZ) chief executive Martin Chingaira has urged authorities to continue investing in infrastructure development projects such as dams, roads, housing, energy and public amenities like schools, hospitals and clinics to foster sustained economic activity in line with Vision 2030.

“The Government should continue to show commitment in infrastructure development to achieve sustained economic growth targets as the country seeks to achieve an upper-middle-income society by 2030.

“Most importantly, authorities should ensure timely distribution of funding to contractors to ensure infrastructure development programmes are completed as scheduled,” he said.

In the first half of the year, the Government spent ZiG3,9 billion on the transport sector, mainly through the Road Development Programme, resulting in notable progress on several strategic projects.

Among the major achievements was the completion and commissioning of the Manyame River Bridge and Mucheke (Chevron) River Bridge in April this year, while the remaining section of the Harare-Masvingo-Beitbridge Highway also moved closer to completion.

Significant progress was also recorded on the rehabilitation and widening of the Bulawayo-Victoria Falls Road, with 57,2 kilometres of the 440,4-kilometre project opened to traffic.

The Harare-Kanyemba Road project also advanced, with the dualised Harare-Mazowe section now complete and open to motorists.

Government also accelerated work on the Mabvuku and Msasa interchanges to ease congestion along the Harare-Mutare Highway, with the Mabvuku Interchange now 47,6 percent complete.

Construction has also begun on the Christmas Pass Bypass in Manicaland, a strategic project expected to re-route heavy commercial traffic away from the hazardous mountain pass, decongest Mutare’s Central Business District and improve cargo movement along the Beira Corridor.

In addition, the Emergency Road Rehabilitation Programme continued supporting road authorities across the country, resulting in hundreds of kilometres of road rehabilitation, resurfacing, resealing, grading and drainage works.

And with the Infrastructure Development Fund expected to unlock additional domestic, regional and international financing, the Government is positioning infrastructure investment as a key driver of economic growth, industrialisation and the attainment of Vision 2030.

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Source: Munhumutapa Day heads to Mash Central – herald

Fungai Lupande-Mashonaland Central Bureau

Mashonaland Central will host this year’s Munhumutapa Day celebrations on September 15, with President Mnangagwa expected to headline the national youth event in Mvurwi.

Zanu PF National Youth Affairs Deputy Secretary Cde John Paradza yesterday unveiled a raft of youth empowerment initiatives that will form part of the commemorations, including a youth housing scheme expected to leave a lasting legacy in the province.

The announcement, made before thousands of party youths during a provincial interface in Bindura, was accompanied by the handover of three tipper trucks under the Presidential Youth Empowerment Programme.

Cde Paradza described the decision to bring the national celebrations to Mashonaland Central as recognition of the province’s contribution to youth mobilisation and its support for the ruling party.

“We have come with good news for Mashonaland Central. This year, Munhumutapa Day will be held here on September 15 and the President will be with you,” he said to loud applause.

He challenged every district, ward and branch to mobilise extensively ahead of the celebrations.

“When the President comes, he should not see where the crowd ends. We want massive numbers as we celebrate Munhumutapa Day, the President’s birthday and the work he has done in building the nation,” said Cde Paradza.

He said the celebrations would not merely be ceremonial but would also showcase the Government’s continued investment in empowering young people through economic projects capable of creating sustainable livelihoods.

Cde Paradza also proposed that Munhumutapa Day eventually be recognised as a national public holiday because of its significance in promoting patriotism, national identity and Zimbabwe’s historical legacy.

The youth empowerment drive gathered momentum during the interface when Cde Paradza officially handed over three tipper trucks donated by President Mnangagwa to youths in Mashonaland Central.

He said the trucks should operate as income-generating assets whose proceeds benefit young people across all districts rather than enriching a few individuals.

“These projects are not for specific individuals. They are meant to benefit youths in Mbire, Mount Darwin, Shamva, Guruve, Mazowe, Bindura, Rushinga and every district in Mashonaland Central,” he said.

Cde Paradza warned provincial youth leaders against monopolising the proceeds generated by the equipment.

National Political Commissar Cde Tsungi Makumbe expressed gratitude for Mvurwi being selected as the host town.

He said the celebrations would leave behind tangible benefits through the Munhumutapa Youth Housing Scheme, under which residential stands would be allocated to young people in the province.

“Everywhere the President goes, he leaves a lasting legacy. Here, young people will receive residential stands, and the developer is already on the ground preparing the project,” he said.

Cde Makumbe urged youths from across the country to converge on Mashonaland Central for the celebrations, saying the event would celebrate both Zimbabwe’s rich heritage and the role of young people in national development.

Provincial Youth Chairperson Cde Emmerson Raradza welcomed the announcement that Mashonaland Central would host the national event, saying the province’s youths were ready to stage memorable celebrations.

He said the province had embraced Government empowerment programmes, including the distribution of tipper trucks and other economic opportunities aimed at improving young people’s livelihoods.

Cde Raradza also reiterated the province’s earlier resolution supporting President Mnangagwa’s continued leadership until 2030, arguing that ongoing infrastructure development and empowerment programmes demonstrated the need for policy continuity.

Provincial Chairperson Cde Kazembe Kazembe said hosting Munhumutapa Day was a vote of confidence in Mashonaland Central and pledged that the province would organise a successful national event.

He said the celebrations would provide an opportunity for the province to showcase its development achievements, agricultural potential and investment opportunities to thousands of visitors expected from across Zimbabwe.

Cde Kazembe also urged party leaders to ensure empowerment programmes were implemented transparently so that ordinary youths benefited directly from the projects being rolled out.

Bindura District Youth Chairperson Malvern Nyauyanga said the combination of income-generating equipment, planned housing stands and expanded economic opportunities would ensure that the event leaves a lasting development legacy long after the celebrations conclude on September 15.

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Source: Gukurahundi outreach programme gathers momentum – herald

Gibson Mhaka

THE Government says the Gukurahundi Community Engagement Outreach Programme has made major progress as it enters its final phase, with thousands of people participating in the community-led process aimed at promoting healing, reconciliation and national unity.

The programme, spearheaded by traditional leaders in Matabeleland under the guidance of President Mnangagwa, has recorded increasing participation from affected communities as Government pursues a home-grown solution.

As the country prepares to commemorate Heroes Day on August 10 under the theme “Lest We Forget,” Government said the outreach programme reflects the Second Republic’s broader commitment to fostering peace, reconciliation and social cohesion alongside preserving the country’s liberation heritage.

The Gukurahundi Community Engagement Outreach Programme was officially launched by President Mnangagwa in Bulawayo in July 2024 after extensive consultations with traditional leaders.

Attorney-General Mrs Virginia Mabiza, who heads the Secretariat of the Matabeleland Peacebuilding Outreach Programme, said the initiative continued to make progress.

“The Gukurahundi Community Engagement Outreach Programme continues to make steady progress towards achieving its objective of providing affected communities with an opportunity to recount their experiences in a dignified, confidential and victim-centred process led by traditional leaders,” she said.

Mrs Mabiza said the programme’s Steering Committee, chaired by the President of the National Council of Chiefs, Senator Chief Mtshane Khumalo, recently met to review progress, assess operational challenges and map the way                                     forward.

“The meeting brought together members of the Steering Committee, representatives of the Secretariat and senior Government officials responsible for supporting the programme’s implementation to review progress, assess operational challenges and adopt strategies for the successful completion of the outreach exercise,” she said.

Mrs Mabiza said the community-based approach, which places traditional leaders at the centre of the process, had strengthened public confidence and encouraged greater participation.

“The overwhelming response from the communities has been truly remarkable and is a testament to the trust placed in our traditional leaders to spearhead this healing initiative.

“Given the numbers and the commitment to ensure inclusivity, the consultation process will likely be extended into next year to ensure every affected community member is accorded a fair opportunity to share their story,” she said.

According to the latest progress report presented to the Steering Committee, the programme had, as of July 15, received 25 407 online submissions, 25 862 physical submissions and 25 479 audio testimonies, reflecting widespread participation by affected communities.

Mrs Mabiza said substantial progress had also been made in processing the testimonies received.

“The Committee noted that progress had been made in transcribing recorded testimonies. In this regard, 12 956 audio testimonies have been transcribed as at the date of the meeting,” she said.

Mrs Mabiza said continued participation demonstrated growing confidence in the outreach programme and the leadership of traditional chiefs.

“The continued participation of communities demonstrates growing public confidence in the outreach process and the resolve of traditional leaders to facilitate inclusive community engagement.

“The impressive turnout by affected communities also affirms the deep commitment of local people to the dialogue and reconciliation framework championed by President Mnangagwa as part of the Second Republic’s broader nation-building agenda,” she said.

The outreach programme forms part of Government’s wider efforts to promote national healing, dialogue and social cohesion, with traditional leaders playing a central role in facilitating community engagement and preserving indigenous approaches to conflict resolution.

Since assuming office in November 2017, President Mnangagwa has consistently stated that national unity, peace and reconciliation are indispensable pillars for sustainable socio-economic development. His administration has prioritised dialogue as a means of resolving historical issues, arguing that lasting development can only be achieved in an environment characterised by mutual trust, inclusivity and social cohesion.

The decision to entrust traditional leaders with the outreach programme recognises their constitutional role as custodians of culture, heritage and customary conflict-resolution systems. Chiefs have been tasked with facilitating hearings within their communities, compiling reports and submitting recommendations to Government for consideration.

The outreach programme complements broader national peace-building initiatives being implemented under the Second Republic, including devolution, community development programmes and efforts to strengthen social cohesion in line with Vision 2030. The process is intended to promote healing while ensuring that future generations inherit a united, peaceful and prosperous Zimbabwe.

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Source: Second Republic fulfils promise to war veterans – herald

Gibson Nyikadzino-Zimpapers Politics Hub

The Second Republic has been hailed for moving beyond rhetoric to fulfilling promises made to war veterans and implementing action-oriented initiatives that have positively improved their welfare and business acumen, Veterans of the Liberation Struggle Affairs Minister Senator Monica Mavhunga said yesterday.

Ahead of the Heroes Day commemorations next Monday, Senator Mavhunga praised President Mnangagwa for providing support and direction towards emancipatory programmes that generate sustainable revenue for war veterans through the Veterans Fund.

She said the initiatives are not only capacitating war veterans with business skills and knowledge, but ensuring that they translate their knowledge to benefit the economy and improve livelihoods.

“The Second Republic moved beyond promises and moved a step further from where we had statutory benefits for war veterans to the institutionalisation of empowering projects under the Veterans Investment Holding Company (VIHC).

“Under the VIHC, we are unlocking economic value through companies and projects that are being undertaken by war veterans spanning operating safaris, animal husbandry projects, mines, and farms. The institutionalised projects under the Second Republic across key economic sectors are generating sustainable revenue for the war veterans,” Senator Mavhunga said.

The VIHC was established to bridge the gap between intention and impact, and is tasked with creating structured revenue-generating projects that directly benefit veterans of the struggle and their dependants.

Furthermore, Government has also engaged the Zimbabwe Investment and Development Agency (ZIDA) to train and equip war veterans with skills and knowledge to venture into projects that are bankable.

Senator Mavhunga said at least 200 war veterans have been equipped with skills through the ZIDA partnership.

“So far at least 200 war veterans have undergone skills training with ZIDA on bankable projects. We thank Government because this is a critical contribution that helps direct efforts of war veterans into the mainstream economy.

“Besides the projects that are under the VIHC, some war veterans have their farms and mines, they will find this training useful,” Senator Mavhunga added.

Senator Mavhunga also commended the Second Republic for spearheading the memorialisation of Zimbabwe’s liberation struggle through modern digital formats for distribution in schools and museums.

She emphasised the need for the memory of Zimbabwe’s history to be kept alive for posterity’s sake through books, documentaries, films and digital formats that can be accessed by young people.

“For memorialisation of our history, we are working with relevant ministries under a committee headed by the Office of the President and Cabinet where there is a Heritage Fund to restore all sites where the remains of our heroes are interred.

“There is material about the liberation struggle that needs to be digitised so that schools and museums can access it and can be used when teaching about the history of Zimbabwe.”

This year’s National Heroes Day commemorations will be held under the theme, “Lest We Forget” and Government is set to honour 50 000 war veterans with medals.

Senator Mavhunga said names of the recipients have been identified and Ministers of State for Provincial Affairs will preside over the handing over of medals.

“Our preparations are at an advanced stage as we are going to honour our war veterans. Each province will honour 5 000 war veterans with medals and their names have already been submitted. Ministers of State for Provincial Affairs will preside over these ceremonies in each province,” Senator Mavhunga said.

The main Heroes Day commemorations will be held at the National Heroes Acre and Zimbabwe currently has a recorded total 254 fallen heroes.

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