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Thursday, May 30, 2024

Midlands province records 11 percent growth in GDP

Story by Tafara Chikumira

THE Midlands Province’s appetite for growth through attracting new investments has paid off after the Zimbabwe Statistics Agency (ZIMSTAT) placed the province in pole position on its annual growth rates.

The Midlands Province had an 11 percent growth rate in 2022, around double the country’s average growth rate of 6,5 percent.

The provincial gross domestic product (GDP) growth was largely led by the mining sector.

According to statistics from ZIMSTAT, the province recorded a ZWL25 billion growth in its GDP, with the mining sector contributing US$7 billion, representing 25 percent.

“The Midlands province witnessed huge strides in development in the year. The mining sector largely contributed to the growth in the province post COVID 19 Era. The wholesale and manufacturing sector also contributed well to this growth. The hotel and tourism sector which was subdued during COVID-19 also witnessed some massive growth during the period under review. The telecommunications sector has also witnessed some massive growth in the year,” said ZIMSTAT Manager Accounts and Analysis, Mr Tapiwa Gumbo.

Development partners are appreciative of the population and housing census provincial profiles, saying they are important in coming up with coordinated policies to ensure previously marginalised communities get the much needed assistance as explained by UNICEF Programme officer local governance, Mr Rongedzayi Fambasayi.

“Statistics are critical in shaping the lives and policy making. Working together can bring about positive change. Our collaboration can help us to reach out to the most vulnerable areas so that we address some of the deprivation. Identification of gaps will help us to make sound interventions.”

Midlands Minister of State for Provincial Affairs and Devolution Honourable Owen Ncube highlightef ggovernment’s commitments to working with business through creating an enabling environment for the growth of the provincial economy in line with the National Development Strategy 1.

“It is important to note that the attainment of an upper middle income society is informed by surveys from ZIMSTAT as we seek to achieve Vision 2030. Our thrust is to come up with evidence based decision making. We will continue to open space for new investments. I implore ZIMSTAT to regularly give updates time and again for us to come up with sound policies that will address challenges in the province,” he said.

Manicaland Province came second with a provincial GDP growth of 6.5 percent in 2022.

ZIMSTAT is currently working on modalities to come up with quarterly statistics on the performance of each province through the enhanced data dissemination standards, with a view to accelerate the country’s development trajectory.

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