The Sunday News
Munyaradzi Musiiwa, Midlands Correspondent
President Emmerson Mnangagwa said the country’s per capita income has risen to over $1 000 since December last year owing to the new dispensation’s Zimbabwe’s open for business narrative which has created a conducive investment ambiance and restored investor confidence.
Per capita income is the total national income divided by the number of people in the nation.
Addressing Government officials and employees at African Chrome Fields in Kwekwe, President Mnangagwa said the country’s per capita income had significantly risen since the new dispensation assumed office in November last year.
The President said the increase in per capita income was a testimony that Government has laid a solid foundation for the country to become a middle income economy by 2030 with per capita income of about $ 3 500.
“Allow me to reiterate my Government’s determination to continuously implement national projects which stimulate economic growth and improve the standard of living of our people. We continue to march on in pursuant to our vision to become a middle income economy.
Since the new dispensation which came into office in November last year, Investment commitments that we got in the country and foreign direct investment, has gone beyond $16 billion. In the past we never reached $ 500 million per year but in just six months the investments are exceeding $ 16 billion.
Zimbabwe shall never be the same again. In November last year out per capita income was at $900 and six months down the line it rose to $ 1 011 recorded in May,” he said.
President Mnangagwa said the tremendous growth of the mining sector and manufacturing industry which the country has witnessed since the coming of the new dispensation will go a long way in addressing unemployment.
“Only yesterday, I officiated at the ground breaking ceremony of Karo Resources Integrated Platinum Project in Mhondoro, which created 15 000 direct jobs. I have also presided over other mining events such as the reopening of Eureka Mine in Mashonaland Central and Shabanie Mashava Mine in Masvingo which collectively created 9 000 direct jobs.
“I also witnessed the issuance of a special mining grant to Steelmakers Private Limited area and the reopening of their Masvingo Sponge Iron Steel Plant. These combined projects will result in increase steel exports and uninterrupted feedstock into their Kwekwe steel plant. The issuance of the special grant entails that Phase Two of their Masvingo Plant can now commenced and will resilt in a total of 300 000 tonnes of steel p0er annum with a total of 2000 jobs,” he said.
