Story by Tichaona Kurewa
The second edition of the Zimbabwe Economic Development Conference (ZEDCON) ended this Tuesday in Victoria Falls where it emerged that the electronic procurement system has been successfully installed in the public sector and will be launched this month.
The government recently indicated that the ongoing value for money mantra has resulted in savings of up to 30 percent in the national budget, a development which the Procurement Regulatory Authority of Zimbabwe (PRAZ) pinned on robust systems.
PRAZ believes an e-procurement will further reduce government expenditure.
“In terms of broader transparency and accountability, happy to announce that on the 23rd of October, His Excellency the President of Zimbabwe, will be launching the electronic government procurement system which will change the landscape of public procurement in this nation,” said Procurement Regulatory Authority of Zimbabwe Chief Executive Officer, Mr Clever Ruswa.
Industry is equally optimistic about the impact of the e-procurement system.
“With e-procurement where it has been launched in the world, it creates lots of opportunities, it cuts down on corruption, it increases efficiency and it also brings in a lot of new players. You can see opportunities, so we are very excited about this, it will catapult our country into the next century as it where,” the vice president of the Confederation of Zimbabwe Industries, Mr Mucha Mukanganwi.
The government is on a drive to modernise all its systems in line with the vision to attain an upper-middle-income society by 2030.
The 2022 edition of the Zimbabwe Economic Development Conference (ZEDCON) was key in the formulation of the 2023 Budget and has continued to bankroll various initiatives to ensure the fulfilment of the National Development Strategy One.
The Government confirmed the effectiveness of the annual conference.
“ZEDCON gave birth to value for money policy which has gone a long way in curbing financial leakages in government. Forward pricing and overpricing are now a thing of the past. As the country marches towards the attainment of Vision2030, the ZEDCON is vital in the shaping of our desires. Our projected growth rate this year is 5.3% with indications that we might surpass this target. Monetary measures that we have put in place have ensured that inflation comes down to 18%,” said Matabeleland North Minister of State for Provincial Affairs and Devolution, Honourable Richard Moyo.
Mobilisation of local resources was also identified as a key component.
“The Government remains committed to mobilising internal resources to fund capital projects and Zimbabwe’s economic fortunes continued on a positive trajectory. The government is determined to attain economic stability through containing money supply growth,” said the Minister of Finance and Investment Promotion, Professor Mthuli Ncube.
Natural resources that are abundant in the country also present opportunities for domestic resource mobilisation.
“We are all aware that Matabeleland North is endowed with natural resources ranging from huge mineral deposits, particularly coal, and fauna, as well as home to one of the seven wonders of the world, the iconic Victoria Falls.
This presents huge opportunities for mobilisation of resources for sustainable economic development.
I have no doubt that this Conference will explore new financing opportunities, leveraging on the Province’s diversity in natural resources endowment.
Outcomes for ZEDCON 2023 will also be incorporated in the crafting of the 2024 national budget and formulation of other policies to propel the country to an upper-middle-income society by 2030. | ZBC NEWS