Prof. Mthuli Ncube Calls for Shift in Global Development Financing Models at WEF Dalian Forum

DALIAN, China – Zimbabwe’s Finance Minister, Professor Mthuli Ncube, has urged a fundamental rethink of global development financing, calling for a shift away from traditional debt and aid dependency toward domestic resource mobilisation and innovative financing instruments, as developing economies come under increasing fiscal pressure. Speaking at the World Economic Forum’s 17th Annual Meeting in […]

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DALIAN, China – Zimbabwe’s Finance Minister, Professor Mthuli Ncube, has urged a fundamental rethink of global development financing, calling for a shift away from traditional debt and aid dependency toward domestic resource mobilisation and innovative financing instruments, as developing economies come under increasing fiscal pressure.

Speaking at the World Economic Forum’s 17th Annual Meeting in Dalian during a session themed “Scenarios for Financing Growth”, Ncube said the global economic environment is becoming increasingly unstable, shaped by geopolitical tensions, tighter financial conditions, fragmented trade systems and rapid technological change.

According to remarks reported by The Zimbabwe Mail, the minister warned that many developing countries are now facing shrinking fiscal space, rising debt-servicing obligations and limited access to concessional financing, a situation he said is constraining long-term public investment.

Debt pressures crowd out development spending

Ncube argued that the growing burden of sovereign debt is reducing governments’ ability to fund infrastructure, social services and industrial development.

“The traditional reliance on public debt and aid is no longer sufficient to sustain growth,” he said, adding that domestic resource mobilisation must now become the central pillar of development financing strategies.

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He emphasised that reliance on external borrowing has become increasingly unsustainable for many emerging economies, particularly as global interest rates remain elevated and capital flows become more selective.

Zimbabwe pivots toward private capital and reform agenda

Outlining Zimbabwe’s financing strategy, the minister said the country is focusing on attracting private investment through improved business conditions, expanded public-private partnerships and deeper financial sector reforms.

He also highlighted the use of alternative financing mechanisms such as debt-for-development swaps, alongside efforts to mobilise diaspora remittances, which he said now exceed US$3 billion annually and represent a significant source of external inflows.

Ncube said Zimbabwe is also implementing structural reforms aimed at improving the investment climate, including targeted tax incentives, customs duty exemptions on critical industrial inputs and the expansion of special economic zones designed to support industrialisation and export growth.

Monetary reforms to support credit expansion

On monetary policy, the Finance Minister cited measures by the Reserve Bank of Zimbabwe to reduce the cost of financial intermediation and expand access to credit for productive sectors.

He said targeted financing facilities are being deployed to support manufacturing, agriculture and small and medium enterprises (SMEs), which remain central to the country’s growth strategy.

According to Ncube, these interventions are intended to improve liquidity conditions, enhance productivity and stabilise macroeconomic fundamentals over the medium term.

“Zimbabwe is open for business”

Reaffirming the country’s investment posture, Ncube said the ongoing reforms are designed to strengthen economic stability and position Zimbabwe for sustained growth.

“Zimbabwe is open for business, reforming and ready for investment,” he said.

The remarks come as policymakers across the developing world grapple with rising debt vulnerabilities and declining access to affordable external financing, prompting renewed debate on alternative models of development finance.

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Stealing fish in Lake Chivero ends in tears: Norton man now disabled after fighting with a deadly crocodile for 30 minutes

The Cost of a Catch: A Thirty-Minute Battle for Survival in the Jaws of a Chivero Predator NORTON — For Garikayi Chiweshe, the silence of the pre-dawn mist over Lake Chivero is no longer a source of peace. Instead, it is the backdrop to a nightmare tha…

The Cost of a Catch: A Thirty-Minute Battle for Survival in the Jaws of a Chivero Predator NORTON — For Garikayi Chiweshe, the silence of the pre-dawn mist over Lake Chivero is no longer a source of peace. Instead, it is the backdrop to a nightmare that plays on a loop every time he closes […]

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Morocco earn comeback win over Haiti to reach last 32 as group runners-up

ATLANTA,- Morocco confirmed their progress to the World Cup last 32 but twice had to come from ​behind to get the better of plucky Haiti with a 4-2 win in an action-packed game on Wednesday and fell short of topping Brazil ‌in the Group C standings. Morocco finished level on seven points with the five-times […]

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ATLANTA,- Morocco confirmed their progress to the World Cup last 32 but twice had to come from ​behind to get the better of plucky Haiti with a 4-2 win in an action-packed game on Wednesday and fell short of topping Brazil ‌in the Group C standings.

Morocco finished level on seven points with the five-times world champions, who beat Scotland 3-0, but are runners-up on goal difference and will play the Group F winners, Netherlands, Japan or Sweden, on Monday in the first knockout round.

Haiti, the first side eliminated from the 48-team tournament after losing their second group game, went ahead early thanks to an ​own goal, but African Footballer of the Year Achraf Hakimi equalised in the 39th minute.

Wilson Isidor’s thunderbolt restored Haiti’s lead in the 43rd but the ​match was soon level again as Ismael Saibari scored his third goal in as many World Cup appearances.

It took until ⁠the 78th minute for Morocco to take the lead when substitute Soufiane Rahimi thrashed the ball home from close range after Haiti failed to clear a corner and ​20-year-old Gessime Yassine made it 4-2 in the last minute.
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“It was a crazy game, too many goals but we are really delighted to qualify for ​the next round and now we have to keep going,” said Hakimi.
“Haiti were already out of the competition but showed great spirit and made us suffer but in the end we did it.”

Haiti had only pride to play for but made Morocco work for their victory and despite losing all three games at the tournament — their first in 52 ​years — will depart with their reputation enhanced.

“We were up against a quality team and I hope we gave our fans something to relish,” said ​Haiti coach Sebastien Migne. “We have to keep working hard to come back again four years from now.”

VOCIFEROUS SUPPORT

With vociferous support willing them forward, Haiti opened the scoring after 10 ‌minutes as ⁠Josue Casimir calmly shielded the ball, waiting for Jean-Kevin Duverne to support him on the wing and carry it into the box before a square pass was audaciously backheeled goalwards by Lenny Joseph.

South African fans celebrate historic last-32 World Cup qualification

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FIFA initially awarded the goal to the Haiti striker even though his effort looked to be going wide, deflecting in off the back of Morocco goalkeeper Yacine Bounou, but it was later changed to become yet another own goal in this tournament.

Haiti’s 38-year-old goalkeeper Johny ​Placide, playing his last international after ​15 years in the national team, ⁠produced a series of sharp saves to twice deny Ayoub El Kaabi and Hakimi.

But when he parried Bilal El Khannouss’s cross, Hakimi was quickest to bundle it over the line for the equaliser.
Duverne set up Isidor for his ​rasping strike from outside the area to put Haiti ahead again.

Morocco’s response was much quicker the second time, ​with Sofyan Amrabat setting ⁠Hakimi off down the right flank and the captain dragging the ball back for Saibari to slot home and leave the teams deadlocked at 2-2 by halftime.
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VEHEMENT PROTESTS

Haiti’s defence was eventually breached again late in the second half from a set-piece although they protested vehemently for a foul after Rahimi had controlled the ball before turning and slamming ⁠home.

Rahimi then set up the ​baby-faced Yassine for a tap-in after Haiti’s defenders stopped playing, believing the ball had gone ​out of play, but VAR confirmed the goal.

“We’d have loved to top our group but I don’t think we played well enough to do so,” said Morocco coach Mohamed Ouahbi.

“We had ​to go all out in the second half and had so many chances to score.”

Source: Reuters

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Zimbabwe Manufacturing Shows Mixed Recovery With Rising Output but Weak Exports – CZI Survey

HARARE – Zimbabwe’s manufacturing sector recorded a year of steady but uneven recovery in 2025, with production rising and firms cautiously expanding, even as deep structural weaknesses in exports, input dependency and formal employment persist, according to the latest industry survey by the Confederation of Zimbabwe Industries (CZI), as reported by NewZWire. The annual manufacturing […]

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HARARE – Zimbabwe’s manufacturing sector recorded a year of steady but uneven recovery in 2025, with production rising and firms cautiously expanding, even as deep structural weaknesses in exports, input dependency and formal employment persist, according to the latest industry survey by the Confederation of Zimbabwe Industries (CZI), as reported by NewZWire.

The annual manufacturing sector survey, which tracks firms of varying sizes across the country, paints a picture of an industry growing in output but still operating well below full capacity, with significant reliance on imports and limited integration into global markets.

Output rises, but capacity still underutilised

Manufacturing output grew by 13% in 2025, while turnover increased by 12%, signalling continued recovery momentum. Employment also rose by 6%, with companies adding an average of five workers each over the period.

Capacity utilisation improved to 55.9%, up from 52.3% in 2024, marking the fourth-highest level recorded since CZI began tracking the indicator in 2009. However, nearly half of installed industrial capacity remains unused, underscoring persistent inefficiencies in the sector.

Medium-sized enterprises led the expansion, posting output and turnover growth of 21.2%. Large firms contributed most to job creation, while smaller manufacturers continued to lag due to constrained access to finance.

Notably, about 35% of firms reported investing in capacity expansion, indicating growing confidence in medium-term demand conditions.

Heavy reliance on imported inputs persists

Despite a visible increase in locally branded products on the market, Zimbabwean manufacturers remain heavily dependent on imported raw materials. The survey shows that 54% of all industrial inputs were sourced externally in 2025, up from 52% in 2023.

Nearly 60% of firms cited shortages of local raw materials as the primary reason for importing inputs, highlighting ongoing gaps in domestic value chains.

Exports remain a critical weakness. Less than 5% of total manufacturing output is exported, with firms citing high production costs, transport bottlenecks, competition from imports and limited access to finance as major constraints to competitiveness.

Technology adoption boosts performance, but uptake remains limited

The survey also points to a widening productivity gap between firms investing in technology and those that are not. Only one-third of manufacturers upgraded their technology in 2025, yet those that did recorded turnover growth of 18.4%, compared to just 8.4% for non-adopters.

However, advanced digital transformation remains limited. Artificial intelligence adoption stands at only 12%, with firms citing high costs and a shortage of technical skills as key barriers.

Labour shifts toward flexible arrangements

The structure of employment in the sector is also changing. The share of non-permanent workers has increased to 36%, up from 28% in 2023, reflecting a cautious approach by firms despite improving output conditions.

Analysts say this shift suggests manufacturers are prioritising operational flexibility over long-term hiring commitments amid lingering economic uncertainty.

Industrial renewal and product diversification

There are, however, signs of gradual industrial renewal. Nearly 60% of manufacturing plants are less than a decade old, while only 4% are more than 50 years old. A further 4% of new plants were commissioned in 2025 alone.

Firms are also increasingly diversifying production. The average manufacturer now produces two product categories, with six out of ten firms engaged in multi-product lines, indicating efforts to spread risk and tap into new markets.

US dollar dominance continues despite currency policy shifts

Despite government efforts to promote the Zimbabwe Gold (ZiG) currency, the US dollar remains dominant in the industrial sector. The share of manufacturing revenue earned in US dollars rose to 76% in 2025, up from 65% in 2023, reflecting continued preference for hard currency transactions across supply chains.

Cautious optimism for 2026

Looking ahead, the sector remains cautiously optimistic. About 63% of manufacturers expect improved performance in 2026, while 55% are positive about the broader economic outlook.

While the data suggests steady progress, the CZI survey highlights that Zimbabwe’s manufacturing recovery remains fragile, constrained by structural dependencies and limited export penetration, even as firms slowly modernise and expand capacity.

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US Ambassador Throws a Big-Baby Tantrum Over South Africa’s Diplomatic Relations With China and Iran

PRETORIA – South Africa’s department of international relations and cooperation has hit back at United States ambassador Leo Brent Bozell III after he publicly accused Pretoria of abandoning its claimed foreign policy of non-alignment, pointing to Pretoria’s simultaneous hosting of Iran’s deputy foreign minister and deputy president Paul Mashatile’s visit to China as evidence the […]

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PRETORIA – South Africa’s department of international relations and cooperation has hit back at United States ambassador Leo Brent Bozell III after he publicly accused Pretoria of abandoning its claimed foreign policy of non-alignment, pointing to Pretoria’s simultaneous hosting of Iran’s deputy foreign minister and deputy president Paul Mashatile’s visit to China as evidence the country had “chosen” sides against Washington.

In a post on X on Wednesday under the hashtag #NotSoNonAligned, Bozell wrote that “the government of South Africa rolls out the red carpet for Iran’s deputy foreign minister, while deputy president Mashatile is in Beijing deepening ties with China.”

He said Pretoria’s description of this as non-alignment was, in his words, “a choice,” adding that “the South African people deserve an honest conversation about who their government is choosing to stand with.”

The remarks come just months after Bozell was issued a formal démarche by South Africa’s department of international relations and cooperation, and weeks after President Cyril Ramaphosa publicly warned foreign envoys against criticising their host government in public.

Bozell, a conservative writer and activist nominated by United States President Donald Trump in March 2025, has had a turbulent tenure in Pretoria almost from the outset.

Less than a month after arriving in the country, he told a business conference in Hermanus that he “didn’t care” what South African courts had ruled on the liberation-era chant “Kill the Boer, kill the farmer,” insisting it amounted to hate speech despite the Constitutional Court having found otherwise.

DIRCO summoned him over the remarks, with director-general Zane Dangor confirming Bozell “expressed his regrets that these comments detracted from any impression that he wanted to work with us constructively,” after which the US mission issued a public apology.

A parliamentary portfolio committee separately rejected Bozell’s description of black economic empowerment and land reform policies as “apartheid-like,” with committee chairperson Xola Nqola saying that publicly dismissing rulings of the Constitutional Court and Supreme Court of Appeal breached diplomatic protocol and amounted to “an affront to the sovereignty of the South African state.” The Economic Freedom Fighters called at the time for Bozell to be declared persona non grata and expelled.

Bozell went on to formally present his credentials to Ramaphosa on April 8. At that ceremony, Ramaphosa is reported to have issued a veiled warning to the assembled diplomats that they should rely on “quiet, constructive diplomacy” and should “never criticise their host countries publicly and in a confrontational manner.”

Wednesday’s posts appears to test that warning directly.

The ambassador has previously laid out a list of US demands of Pretoria, including that South Africa reconsider its Expropriation Act and BBBEE policies, condemn the “Kill the Boer” chant, prioritise farm murders, withdraw its genocide case against Israel at the International Court of Justice, and adopt a genuinely non-aligned foreign policy distancing itself from Iran, Russia and China. Bozell has said Washington is “running out of patience” with South Africa’s failure to respond to those demands.

China’s ambassador to South Africa, Wu Peng, responded to Bozell’s post.

“Out of respect and diplomatic protocol, we don’t make comments on South Africa’s relations with other countries,” Wu said. “Likewise, we oppose envoys of other countries publicly commenting on relations between China and South Africa.”

The United States ambassador to South Africa Brent Bozell
South Africa’s presidency, for its part, confirmed that Mashatile held bilateral talks in Beijing with Chinese vice president Han Zheng, describing the meeting as reaffirming “the strong political trust and historic solidarity that continue to underpin South Africa-China relations” within what it called the two countries’ “All-Round Strategic Cooperative Partnership in the New Era.”

The statement said the meeting followed the ninth South Africa-China Bi-National Commission, hosted in Cape Town in March.

Mashatile separately addressed the China International Supply Chain Expo this week, reaffirming South Africa’s commitment to the partnership and signalling a shift towards value-added exports and infrastructure cooperation with Beijing.

Iran’s deputy foreign minister, Saeed Khatibzadeh, was in Pretoria the same week, though it was not immediately clear what was discussed. The visit comes weeks after the end of a US-Israeli war with Iran, fought between February and June this year, which has left China positioning itself as a continuing strategic partner to Tehran even as Washington and Iran signed a memorandum of understanding on a first stage of negotiations.

DIRCO issued a media statement on Thursday responding directly to Bozell. The department said it had noted “the recent public statement attributed to the United States Ambassador,” and while South Africa “does not engage in public disputes with resident envoys,” the remarks “necessitate a clear reaffirmation of our guiding principles.”

“As a sovereign nation, South Africa pursues an independent foreign policy firmly anchored in the principle of non-alignment,” the statement read. “Non-alignment must not be conflated with neutrality, we refuse to be drawn into geopolitical contestations or be pressured to take sides; instead, we prioritise inclusive dialogue, global peace, and our own national interests. Accordingly, we reserve the right to cultivate bilateral relations across the global spectrum.”

DIRCO pointedly turned the criticism back on Washington, saying it noted “the inherent contradiction in being publicly scrutinised for engaging Iran and China, the very same states with which the United States itself continues to actively interact.”

The department said South Africa remained “committed to utilising established diplomatic channels to engage the United States,” and trusted “that such protocols will be mutually upheld moving forward” – a line that reads as a pointed reminder to Bozell about the public criticism he has now levelled at Pretoria on two separate occasions.

South Africa’s international relations minister, Ronald Lamola, has consistently defended Pretoria’s posture as principled rather than anti-Western.

“On foreign policy, South Africa does not take sides with any one country,” Lamola has said, describing non-alignment as the country’s “ability to engage all international partners and take positions on a case-by-case basis, guided by our human rights outlook and international law.”

Washington has remained unconvinced. Relations between the two countries have deteriorated sharply since Trump returned to office, marked by the expulsion of South Africa’s former ambassador to Washington, Ebrahim Rasool, the suspension of US aid, tariffs on South African exports, and Trump’s repeated and widely disputed claims of a genocide against white farmers.

South Africa has not had an ambassador in Washington since Rasool’s expulsion in March 2025, though Roelf Meyer has now been deployed in an effort to stabilise the relationship. – ZimLive

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