Story by Owen Mandovha
Stakeholders in the mining and energy sectors are expecting treasury to grant sufficient resources to the two economic sectors in the 2025 National Budget, as they are at the heart of sustainable economic growth.
The mining sector is largely becoming the key anchor to the country’s economy by increasing foreign currency inflows, job creation and supporting other economic sectors’ value chains.
Ahead of the 2025 national budget presentation later this month, the Ministry of Mining and Mining Development has put a strong case for increased support from Treasury to attract more investment into the mining sector.
“The Ministry of Mines is grateful for the support that has been granted to us especially with the crafting of the Mines and Mining Development Amendment Bill. However companies have pleaded for the slashing of some other taxes and royalties in order to increase mines profitability especially in the face of softening commodity prices,” said the ministry’s deputy Minister, Honourable Polite Kambamura.
Energy Policy Consultant, Engineer Edzai Kachirekwa says in the face of crippling power challenges, policy interventions to attract more investment for new power projects should be considered by Treasury.
“It is of paramount importance to have a look at how best Treasury can incentivise investments into the energy probably by way of tax holidays and tariff structures which will bring investors local and foreign into the industry to deal with energy challenges,” he said.
Meanwhile, local and international stakeholders are converging in Victoria Falls for the Zambia Zimbabwe Energy Summit where urgent policy interventions to attract investors in energy generation are set to dominate discussions.
