Economic Model for Zimbabwe vision 2030

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Economic Model for Zimbabwe vision 2030

Vision 2030 on Steroids

“Digital Innovation: the Vision 2030 Real Deal “

October 2018

rubiem Innovations

Zimbabwe’s vision to be a middle-income economy by 2030 is pragmatic and the call to action “Zimbabwe is open for business” is befitting. The key question is which economic models should be used to get there?  This article argues that the two mainstay economy drivers namely, mining and agriculture may fall short to deliver vision 2030 in the current world on steroids being pumped by a technology and innovation-driven 4th Industrial revolution. A third disruptive growth driver is required to mitigate legacy problems and leapfrog development cycle steps.

Zimbabwe was Africa’s breadbasket in the 1990s when agriculture contributed 9%-15% of Gross Domestic Product, 20%-33% of export revenue and livelihoods to 70% of people. The 2000 land reform, which is the 2nd most important national milestone after 1980 independence disrupted the breadbasket status. However, agriculture is still Zimbabwe’s economy backbone contributing 10 % to 2017 GDP. This is great because even if technology innovation now drives life, food security remains life for time immemorial. Mining also remains an economic pillar. Zimbabwe has the 2nd largest Platinum and chrome deposits and is the 5th largest lithium producer in the world. In 2017 mining revenue was US$2,3Billion contributed 13% of GDP about 70% export revenue.

 

To achieve vision 2030, Zimbabwe has to leverage agriculture and mining and add a third indispensable one, namely digital innovation. To explain how these 3 economic pillars are the real deal for Zimbabwe, we first have to go back in history.

 

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