By Mhlomuli Ncube
THE Victoria Falls City Council is rolling out a US$285 million economic diversification programme after the mono-economy suffered a huge knock due to the Covid-19 pandemic.
Heavily reliant on tourism, the city of Victoria Falls economy has been hit hard by the COVID-19 pandemic hence moves to pursue other revenue streams as part of a well-planned diversification programme.
“We have realised that running a mono-economy may pose challenges,” said Ngqbutho Moyo, Vic Falls Municipality Spokesperson.
“Under a US$285 million programme, we are looking at opening businesses such as industrial parks, conferencing and elite sports venues that will earn us revenues even when chips are down such as now.”
For the government, initiatives by local authorities to grow their gross domestic product (GDPs) are testimony of the success of the Devolution Programme.
“When local authorities do this, we welcome it. The president has always spoken about devolution and we will support them all the way,” said Honourable July Moyo.
The restrictions on international travel have seen profits plummeting which has in turn affected service delivery in the tourism capital where the sector contributes the biggest chunk to the local authority’s revenue streams.