Mnangagwa’s full statement on lockdown extension

Our Rescue and Stimulus Package of ZW$18 billion is therefore based on our aspiration to meet the diverse requirements of our national economy that include capacitating the micro, small and medium enterprises (MSMEs) as well as those in the informal sector. These institutions have borne the worst brunt of the lockdown due to the Covid-19 pandemic. An amount of ZW$500 million of the package has been set aside for the micro, small medium enterprise sector to assist this sector.

The lack of income for the small companies and individuals has resulted in an increased number of vulnerable households in the country.

This situation has been worsened by the ongoing drought which has led to huge food deficits requiring imports to bridge the gap of our requirements.

Government is therefore introducing a food grant programme to the tune of ZW$2, 4 billion for the rest of 2020.

This window is earmarked to protect the vulnerable members of our society, while additional resources will be allocated for the provision of social welfare services including the needs of pensioners.

Meanwhile, another amount of ZW$500 million will be set aside for the tourism and hospitality industry, a sector which has been hardest hit by the lockdown.

The mining sector is the largest foreign currency earner in our economy.  In order to incentivise investment in this sector, a credit support facility of ZW$1 billion will be availed.  This is designed to support large- and small-scale miners, as well as speed up the implementation of a computerised Mining Cadastral System.

To ensure employment levels are maintained or even increased where possible, an amount of ZW$3 billion will be for the manufacturing sector to assist with funding to cover capital and operational expenses.

An amount of ZW$6, 1 billion shall be dedicated to stimulate agricultural production in our quest to ensure that the country becomes self-sufficient in food production.

Continued next page

(399 VIEWS)