Mnangagwa says Zimbabwe is now on the rise- mining companies to pay half their royalties in commodities

This allows more Zimbabweans to participate, including those in lower-income bands. That way, we buoy our currency, while stimulating national savings.

We have also started seeing US dollars, all along stashed, circulating more and more in the formal market. The impact has been positive, including a gradual convergence of different exchange rates in the economy. All these are very auspicious signs towards the stabilisation of our economy.

I have already detailed what all these policy measures, including this latest one on royalties, mean for our economy. Let me, in conclusion, say that the precious and high-value strategic minerals we accumulate can also be used to securitise any borrowings we may prudently envisage.

This raises our country’s creditworthiness, and, thus, our ability to circumvent and fend off funding limitations designed against our economy by those who have imposed illegal and unjust sanctions against us.

Like I indicated last week, our response to these spiteful sanctions should always show greater resolve and creativity on our part so that what was meant to hit us as an adversity turns to defiant advantage, through the alchemy of inventive policies.

By President Emmerson Mnangagwa for Sunday Mail

(161 VIEWS)