Finance and Economic Development Minister Professor Mthuli Ncube, is expected to headline a 2020 year end business dinner in Harare that celebrates and recognises resilience shown by local businesses in the face of Covid-19 pandemic.
As guest of honour, Minister Ncube together with his counterpart the Minister of Industry and Commerce Dr Sekai Nzenza — also expected at the dinner — will articulate how the business community and economy in general can navigate through 2021 and beyond post Covid era.
Countries such as China have been hardest hit by the pandemic, but still managed to report positive GDP growth that accelerated especially in Q3, a case Zimbabwe can take a leaf from.
Already, the economy is projected to improve in 2021 with month on month inflation expected to be below 1 percent on the back of sound economic reforms being implemented.
Global economies were negatively affected by the Covid-19 pandemic first detected in China last December.
Local businesses were not spared as the economy implemented a lockdown, which saw trading hours significantly reduced, while production volumes and sales volumes also went down.
Some businesses spent the whole month of April without operating, while travel restrictions were also in place at both domestic and international level in order to limit the spread of the pandemic.
Despite the challenges, local businesses continued to soldier on, coming up with strategies to survive in the “new normal”, for example use of digital trading and communication platforms.
The 2020 year end dinner, which will be held this Friday, December 11, under the “Macro- Economic Stability Key to 2021 Trade, Industry And Commerce Rebound And Beyond — The New Normal,” will recognise efforts made by local businesses’ resilience as they map way forward for further recovery in 2021.
“The dinner is to celebrate the business survival in the Covid-19 era and to share notes on recovery in 2021.
“This will enable industrialist to come energised in the new year and prepared to the adverse effects at hand,” said organisers Global Renaissance Investments chief executive officer Mr Ngoni Dzirutwe.
Discussions at the dinner will centre on enhanced production and exports, macroeconomic stability in 2021 and beyond, foreign currency issues and lessons drawn from Covid-19.
Ambassadors from South Africa and Rwanda, ICAZ chief executive officer, Ms Gloria Zvaravanhu, Confederation of Zimbabwe industries (CZI) president Mr Henry Ruzvidzo and economist Mr Eddie Cross will be among the key guests.