Source: ‘Zim needs data systems overhaul to lure investors’ – herald
Tapiwanashe Mangwiro
Economists and financial sector experts have called for more investment in Zimbabwe’s national statistics systems, saying reliable economic data has become one of the most important foundations for attracting investment, policy stability and long-term economic planning.
The calls came during a panel discussion at the National Strategy for the Development of Statistics (NSDS IV) orientation workshop on Tuesday, where policymakers, development agencies, researchers and private sector executives debated the growing role of data in modern economies.
The discussion followed renewed efforts by ZimStat to develop the country’s fourth National Strategy for the Development of Statistics for the 2026-2030 period.
Panellists said countries with transparent and credible statistical systems generally enjoy stronger investor confidence because businesses and financiers rely heavily on official data when making long-term decisions.
Economist Mr Tawanda Chikore said investors increasingly examine the quality, consistency and accessibility of national statistics before committing capital.
“In today’s economy, data is infrastructure,” he said.
“Before an investor builds a factory, finances a mining project or expands into a new market, they first assess inflation trends, labour statistics, consumer demand, industrial production and trade patterns. Weak data systems increase uncertainty and uncertainty discourages investment.”
Mr Chikore said Zimbabwe’s efforts to modernise its statistical systems could improve confidence among both domestic and foreign investors if implementation remained consistent.
He noted that strong data systems also help governments design better economic policies and avoid costly planning errors.
“When policymakers work with incomplete information, the risk of policy miscalculations rises significantly,” he said.
“Reliable statistics improve fiscal planning, social targeting and infrastructure development.”
Another economist, Ms Rumbidzai Ncube, said the increasing complexity of global financial markets meant Zimbabwe could no longer treat statistical systems as secondary administrative functions.
She said international lenders, ratings agencies and multinational firms now rely heavily on data transparency indicators when evaluating economies.
“Economic credibility is increasingly tied to data credibility,” Ms Ncube said.
“If inflation data, employment figures or production numbers are questioned, markets become nervous. Investors want predictability and consistency because capital naturally avoids environments where information is uncertain.”
Ms Ncube added that stronger national statistics would also help Zimbabwe monitor progress under the National Development Strategy II (2026-2030) and improve policy coordination across ministries.
“Data allows governments to identify where interventions are working and where resources are being wasted,” she said.
“It also improves accountability because the public can measure outcomes against national targets.”
Investment banker Mr Brian Matarutse said the financial services sector depended heavily on timely and credible economic indicators to structure financing deals and assess market risk.
“Banks, pension funds and investment firms price risk using economic data,” he said.
“If data gaps exist, investors demand higher returns to compensate for uncertainty. That increases borrowing costs for businesses and sometimes for governments themselves.”
Mr Matarutse said Zimbabwe’s move to strengthen interoperability between institutions and modernise administrative data collection systems was likely to improve confidence within financial markets.
He said digitisation could also reduce delays in the release of economic indicators and improve consistency across government departments.
“One of the major concerns investors raise in emerging markets is the lag between economic activity and official reporting,” he said.
“Modern digital systems can significantly improve reporting speed and data verification.”
Researcher Dr Nyasha Mlambo said stronger statistical systems were not only important for investors but also for social development and public service delivery.
“Data affects everyday life more than most people realise,” she said.
“When health, education, housing or population data is weak, governments struggle to allocate resources effectively. Accurate statistics help ensure that communities are not excluded from development planning.”
Dr Mlambo said Zimbabwe’s NSDS IV programme had the potential to improve coordination between ministries, universities, development agencies and the private sector.
She warned, however, that reforms would require sustained political commitment, adequate funding and technical training.
“Building a credible statistical ecosystem is not a one-year process,” she said.
“It requires investment in technology, human capital and institutional independence.”
The panellists agreed that Zimbabwe’s renewed focus on statistics came at an important time as governments globally increasingly shift towards evidence-based policymaking and digital governance systems.
They said the success of the new strategy would ultimately depend on collaboration between government institutions, the private sector, researchers and international partners.
As Zimbabwe seeks to attract long-term investment and accelerate economic transformation, experts said credible and transparent national data systems could become one of the country’s most valuable economic assets.
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