Mthuli pushes for collaboration to drive economic growth

CLOUDINE MATOLA

Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube has called for stronger collaboration between the private sector, government, and regulatory bodies, saying Zimbabwe’s economic success depends on unified efforts, Business Times can report.

Speaking at the official opening of the Zimbabwe Accountants Conference (ZAC) in Harare last week, hosted by the Public Accountants and Auditors Board (PAAB), Minister Ncube said stakeholders must work together to enhance regulatory frameworks, embrace digital transformation, promote financial education, and encourage innovation and diversification.

“The success of our country hinges on a collaborative effort among all stakeholders—government, the private sector, and regulatory bodies such as yours,” he said. “We must strengthen regulatory frameworks and enforce adherence to international financial reporting standards; embrace digital transformation in accounting and auditing to improve efficiency and reduce financial risks; advocate for financial education to empower both businesses and individuals; foster innovation in financial management; and explore new avenues for economic diversification. All of this must align with Vision 2030 to ensure sustainable economic transformation that benefits every Zimbabwean.”

Professor Ncube acknowledged the difficulties faced by accountants due to Zimbabwe’s previously volatile economic environment but said the introduction of the Zimbabwe Gold (ZiG) currency had brought much-needed stability.

“Before the introduction of ZiG, the economic landscape posed significant challenges to your profession,” he said. “Many accountants struggled to carry out their duties effectively, particularly in meeting international reporting standards. That era is now behind us. The ZiG has ushered in a new chapter—one marked by stability, structure, and resilience, underpinned by tangible reserves.”

He reaffirmed the government’s commitment to maintaining economic stability, stressing that the new currency is more than a monetary reform—it is a strategic foundation for a future mono-currency system.

“A stable economy is not only good for the nation—it is vital for our work, our businesses, and our collective future,” Professor Ncube said.

“The introduction of the ZiG signals our commitment to restoring predictability and confidence in Zimbabwe’s economy.”

The minister also underscored the crucial role of accountants in maintaining financial integrity and corporate governance.

“As professionals responsible for upholding financial probity and governance, you are the backbone of Zimbabwe’s financial system,” he said. “Through setting qualifications, competency standards, and registration requirements, the PAAB ensures that only skilled professionals contribute to the nation’s financial health.”

He added that the PAAB plays a key advocacy role both locally and internationally, helping shape policies that support financial stability and economic growth.

“The Board ensures the industry’s voice is heard at national, regional, and international platforms, reinforcing Zimbabwe’s commitment to global financial integration.”