LOCAL NEWS

Staff Reporter

The University of Zimbabwe (UZ) and Midlands State University (MSU) are making significant strides in advancing the Government's Education 5.0 initiative by entering the retail sector.

Staff Reporter

Zimbabwe has been invited to participate in the inaugural China-Africa Economic Partnership Agreement (CAEPA) negotiations, set to take place in September 2024 in Beijing, China.

Staff Reporter

Minister of Information Communication Technology, Postal and Courier Services, Tatenda Mavetera, officially launched the 'DIGITALIZE ZIMBABWE' campaign and the 'ROVING ICT EXPO' in Karoi, Mashonaland West Province, yesterday.

Staff Reporter

The Citizens Against Economic Sanctions (CAES) launched a campaign against the economic sanctions imposed on Zimbabwe in Matabeleland South this weekend.

Staff Reporter

The Presidential borehole scheme has become the cornerstone for enhancing food security and bolstering rural communities, particularly in the face of the challenging El Nino-induced drought.

Staff Reporter

Gold deliveries to Fidelity Gold Refinery has increased during the second quarter (Q2) of the year 2024, due to increased deliveries by the artisanal miners.

Political Reporter

Former Citizens Coalition for Change (CCC) leader Nelson Chamisa is reportedly experiencing significant financial hardships, prompting him to request monetary contributions from his supporters.

Staff Reporter

Information, Publicity and Broadcasting Services Deputy Minister, Dr Omphile Marupi hosted a team of 30 Parliamentary Portfolio Committee Members, on ICT, at Manama Mission Hospital, Gwanda South, for a familiarization tour, aimed at giving parliamentarians a firsthand understanding of the connectivity issues faced by the local community.

Staff Reporter

Ministry of Industry and Commerce has announced plans to significantly boost the Manufacturing Value Addition (MVA) in the country’s GDP from the current 12.44% to 20% by 2030, the Harare Post has learnt.

In an interview with this publication, Chief Director Industry, Ms Florence Makombe confirmed this move saying it aimed at enhancing industrial productivity and economic resilience.

“The target to increase MVA to 20% by 2030 is a crucial part of our strategy to drive economic growth and create sustainable job opportunities. We believe that by focusing on manufacturing, we can spur innovation, improve export earnings, and reduce our dependency on raw material exports,” said Ms Makombe

Ms Makombe further outlined that the target increase in MVA, is poised to bring several advantages that could transform the manufacturing sector and the broader economy.

“Key among these benefits is the potential for job creation. As manufacturing activities intensify, the demand for skilled and unskilled labour is expected to rise, offering employment opportunities and reducing the national unemployment rate,” stated Ms Makombe

Moreover, Ms Makombe highlighted that an elevated MVA will likely spur innovation and technological advancement. This technological leap is anticipated to not only improve the quality of locally manufactured goods but also make them more competitive in international markets.

“Technological advancements in manufacturing will be a game-changer for our industry. By investing in new technologies, we can enhance the quality of our products and make them more appealing to global markets, ultimately driving export growth,” she noted.

Ms Makombe also noted that the increase in manufacturing output is set to enhance export earnings.

“By producing more value-added products, the country can reduce its reliance on raw material exports and instead sell higher-margin goods abroad. This shift is expected to improve the trade balance and stabilize the ZiG currency,” she said

Meanwhile, the Ministry’s strategy aligns with broader economic goals, including poverty reduction and regional development. As manufacturing hubs emerge and expand, they can stimulate growth in surrounding areas, promoting regional economic integration and development. This decentralization of industrial activity ensures that the benefits of growth are more evenly distributed across the country.

Government’s plan to increase the Manufacturing Value Addition in GDP is a strategic move poised to bring multifaceted benefits to the economy. By fostering job creation, technological advancement, export growth, industrial diversification, and regional development, this initiative has the potential to significantly bolster the nation’s economic prospects and pave the way for a more prosperous future.

Political Reporter

President Emmerson Mnangagwa has reiterated his stance against seeking a third term in office, emphasizing his commitment to the constitutional two-term limit.