Vice President calls for confidence in local currency


The Chronicle

Harare office
Vice President Constantino Chiwenga warned companies against trading in the parallel foreign exchange market as the government will take punitive action against them.

The vice president urged Zimbabweans to trust the local currency to retain its value against other currencies.

He said this while officiating at the 9th Annual National Agribusiness Conference at the ongoing Zimbabwe Agricultural Show.

The interface brought together stakeholders from the agricultural industry to discuss the challenges facing the sector and possible solutions.

Vice President Chiwenga then said that the government was satisfied with the continued increase in production and productivity in most sectors of the economy “Businesses should not be fooled by some malcontents operating in the market. parallel to foreign exchange where currency arbitrage has become their lucrative activity to the detriment of the stability of the economy ”.

He said the relevant branches of government will continue to decisively deal with all content for the sake of the people.

“A number of these have already been selected and many more will follow as we step up our efforts to tackle those that are counterproductive to the sustainable growth of the economy.

“I wish to reiterate the need for all of us to have confidence in our currency, the Zimbabwean dollar. We must place our trust in it so that it can retain its value against other currencies, hence the need for local production capacity in all sectors of the economy for local consumption and export ”, did he declare.

Vice President Chiwenga said agriculture is the key to national development and that achieving Vision 2030 rests on increasing production and productivity within the industry.

“The country is targeting 3 million tonnes of maize, an all-time high in light of normal to above normal rainfall forecast for the 2021/22 season.

“The maize target will be achieved through government programs such as the Pfumvudza / Intwasa Conservation Agriculture Program, the National Enhanced Agricultural Productivity Program and the Presidential Input Program.

“The government plans to expand the presidential entry program to cover 2.3 million households, up from 1.8 million under the same program last year,” he said.

Vice President Chiwenga said the government will continue to improve market access for farmers’ products, especially horticultural and animal products which are predominantly perishable. noted.
He implored stakeholders to find solutions to strengthen the performance of the agricultural sector.

“The government will encourage market-based investments in sustainable agricultural mechanization programs that improve farmers’ access to agricultural equipment and tools purchased or rented from financial institutions,” he said.

Zimbabwe Agricultural Society President Ngoni Kudenga said the agricultural sectors still face a number of challenges that require stakeholder intervention to resolve them.

He said stakeholders should work so that the agricultural sector can grow by 10 percent every year in pursuit of Vision 2030.


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