Zimbabwe’s Finance Minister, Professor Mthuli Ncube, has called on Southern African Development Community (SADC) member states to strengthen collaboration and accelerate regional integration in the face of mounting global economic and climate-related challenges.
Speaking at the official opening of the SADC Committee of Ministers of Finance and Investment and the Peer Review Panel in Victoria Falls, Ncube who serves as Chairperson of the Committee and co-Chairperson of the Peer Review Panel welcomed delegates with a rallying call for unity, innovation, and collective action.
“To succeed, we must embrace a simple truth: no one can do it alone. Governments, businesses, philanthropies, and development banks each have a role to play—and only through collaboration can we achieve our goal,” said Ncube
His address comes against the backdrop of a revised global growth outlook from the International Monetary Fund (IMF), which now projects 2.8% growth for 2025, down from 3.1% in 2024.
He warned that the economic slowdown is compounded by rising debt levels in over half of developing countries.
“Debt repayments have increased by 35% since 2023. This creates fiscal stress, but it also presents an opportunity for private investment in economies that are well-managed,” Ncube said.
He highlighted the dilemma faced by many African governments—trying to maintain fiscal discipline while expanding spending in essential sectors like education, healthcare, and infrastructure.
Ncube painted a gloomy picture of the region’s youth employment outlook, warning that 210 million young Africans could be left without jobs over the next decade if urgent reforms are not implemented.
“Three out of every five young people may be excluded from the workforce. This is an economic and social time bomb,” he warned.
However, he was quick to point out that solutions do exist outlining four key areas where investment and innovation could make a difference: artificial intelligence, FinTech, renewable energy and agribusiness; industry-aligned vocational training; support for small and medium enterprises; and inclusive, sustainable economic strategies.
Treyvon Martin / June 12, 2025
No one will ever believe things said by thieving civil servants who have demonstrated not an aorta of economic sense. Mthuli go and first stop
@Buying stupid vehicles costing millions and which have no benefit when the country is burning.
@Get back the billions owed by thieves like Wicknel. Why has this govt kept silence at what the RSA govt now wants Wicknel for in RSA. HOW come he is a free person here.
@Ither than corrupt Chinese, Belarusians and Russians no one with innovative ideas can come into Zimbabwe.
We have politicians and their thieves who are billionaires whilst OK can’t raise $30m is this a joke?
/