Cabinet noted with satisfaction the decision taken by the Monetary Authorities to abolish the multi-currency system and replace it with a mono-currency as contained in Statutory Instrument 142 of 2019.
This measure is a critical step towards the full restoration of a Zimbabwe sovereign currency as envisaged under the Transitional Stabilisation Programme. Cabinet also applauds the other supportive measures being introduced by the Reserve Bank of Zimbabwe to bolster this initiative.
Further, the commencement of meetings of the social partners, that is, Government, business and labour under the Tripartite Negotiating Forum is indeed a welcome development, as it fosters a collaborative approach to the development of the national economy.
Cabinet calls on all citizens and stakeholders to close ranks and give maximum support to these measures which are designed to ease the plight of all our people and to place our country’s economy on a firm growth trajectory. As Zimbabweans, let us be driven by the sense of national pride, self-belief and the commitment to guaranteeing the integrity of our financial system.
2. Update on the Lion’s Den — Kafue Railway Project
Cabinet was briefed by the Minister of Transport and Infrastructural Development on progress regarding the Lion’s Den-Kafue Railway Link Project which is being promoted by the governments of Zimbabwe and Zambia. The construction of the railway link will provide the shortest route to the ports of Beira in Mozambique and Durban in South Africa, and thus give both countries a competitive advantage over other routes along the North-South Corridor. The tender for the selection of the winning bidder for the project is due to be closed on 13th July, 2019.
3. Zimbabwe Media Commission Bill, 2019
Cabinet approved the Zimbabwe Media Commission Bill which was presented by the Minister of Justice, Legal and Parliamentary Affairs. The Bill is part of the ongoing reforms to align the country’s laws to the Constitution and arises from the repeal of the Access to Information and Protection of Privacy Act, commonly known as AIPPA.
More specifically, the Bill provides for the establishment of the Zimbabwe Media Commission, its powers and functions as well as the financing thereof. The ultimate objective is to emerge with a vibrant, non-polarised, diverse and pluralistic media sector which positively contributes to the deepening of the country’s democratic processes and the socio-economic development agenda.
4. Priority Projects for the Third 100 Day-Cycle of the Second Republic: 8 June 2019 to 16 September 2019.
Cabinet received and approved a presentation by the Minister of State for Presidential Affairs and Monitoring of Government Programmes of 96 proposed priority projects from ministries for the third 100-Day Cycle of the Second Republic. The Third 100-Day Cycle will run from 8th June 2019 to 16th September 2019.
A copy of the full list of the projects involved shall be availed to the media after this briefing. As usual, the nation will be briefed on progress in the implementation of the projects in due course.
5. Report-Back on the 12th Africa-US Business Summit held recently in Maputo, Mozambique
Cabinet received a report-back on the 12th Africa-US Business Summit recently held in Maputo, Mozambique. The Summit offered Zimbabwe the opportunity to advance its re-engagement exercise as well as promote investment in the country.
Highlights of this included His Excellency President E. D. Mnangagwa’s meeting with General Electric, an American company which is set to partner with a Chinese company on the construction of the Batoka Hydro Project. The company expressed willingness to invest US$40 million towards the modernisation and maintenance of the hospital infrastructure and the training of health care providers at Parirenyatwa, Harare, Mpilo and Kariba hospitals over a seven-year period.
A detailed proposal will be submitted in due course for consideration by the Government of Zimbabwe. His Excellency the President also discussed with his Mozambican counterpart, the prospects of Zimbabwe importing additional power from Cabora Bassa in order to ease the current power supply chal- lenges.
6. Energy and Power Supply Situation
Cabinet was advised by the Minister of Energy and Power Development that Treasury has now fully paid off Government’s debt obligation to ZESA, which was around RTGS$20 million. A further RTGS$20 million is due to be advanced to ZESA by Treasury, in order to boost power generation by the utility. This, together with the payment of US$10 million to ESKOM, should help alleviate the current power supply situation.