Gvt signs Grant Protocol Of Agreement with AfDB

By Rudo Saungweme

Government has signed a Grant Protocol Of Agreement for the Tax and Accountability Enhancement Project with the African Development Bank (AfDB) today in Harare.

Speaking at the event, Minister of Finance and Economic Development, Professor Mthuli Ncube said that the project amounts to US $10.4 million and the fund is meant to support Zimbabwe Revenue Authority (ZIMRA), Parliament and Auditor General.

“Today we are gathered to witness the signing of the Grant Protocol Of Agreement between the Republic of Zimbabwe and the AfDB for the Tax and Accountability Enhancement Project, amounting to US  $10.4 million to support ZIMRA, Parliament and Auditor General for the  following components:

“Tax and Revenue Management System Modernisation US $ 8.1 million. Improving capacity of the oversight function of Parliament and External Audit US $ 2.9 million, and Project Management including monitoring and evaluation activities US $0.566 million,” said Minister Ncube.

Minister Ncube also said Government will contribute US $1.1 million towards the projects, and that President Emmerson Mnangagwa is rallying towards the attainment of Vision 2030 and the attainment of the Vision is underpinned by various administrative reforms.

“As you may be aware, His Excellency the President of Zimbabwe, Cde. E.D. Mnangagwa is rallying all Zimbabweans to rigorously and diligently work towards attainment of the country’s Vision 2030 to transform Zimbabwe into an upper-middle income economy by 2030.

“Attainment of the vision is underpinned by various, economic and administrative reforms being developed by Government,” he said.

This project is expected to strengthen the transparency and accountability oversight mandates of ZIMRA, Parliament and Auditor General in line with the Transitional Stabilisation Programme (TSP), which prioritises fiscal consolidation, economic stabilisation and inclusive growth as well as, employment creation.

The people of Zimbabwe will also indirectly benefit from the project through among others, reduced time in paying taxes and enhanced service delivery by ZIMRA, a more transparent and accountable public sector service delivery, enhanced capacity to mobilise domestic resources for socio-economic development and improved participation of civil society through advocacy and public oversight.

The Grant Agreement is expected to run for 36 months, until 31 December 2023.