Mining, Energy Sectors Urge Budgetary Support Boos...

Mining, Energy Sectors Urge Budgetary Support Boost

*AI generated visualisation of a green energy driven mining confluence*

Runodada Witness

ZimNow reporter

The mining and energy sectors are calling for substantial financial support in the 2025 National Budget, emphasizing their pivotal role in driving sustainable economic growth. As key contributors to the economy, these sectors enhance foreign currency earnings, create employment, and strengthen value chains across other industries.

With the 2025 budget presentation approaching later this month, the Ministry of Mining and Mining Development has made a strong appeal for increased funding from the Treasury.

The ministry aims to attract further investments into mining, which has become a cornerstone of the country’s economic framework. Deputy Minister Polite Kambamura acknowledged the financial backing received so far, particularly for initiatives such as the crafting of the Mines and Mining Development Amendment Bill.

However, he highlighted the need for tax and royalty reductions to boost the profitability of mining companies, especially as they contend with declining commodity prices.

The need for targeted policy in the energy sector measures to address persistent power challenges. Energy Policy Consultant Engineer Edzai Kachirekwa underscored the importance of creating a more attractive investment environment for energy projects.

He suggested measures such as tax holidays and revised tariff structures to encourage both local and international investors to participate in developing the energy infrastructure.

As discussions around these issues intensify, stakeholders from Zimbabwe and beyond have gathered in Victoria Falls for the Zambia-Zimbabwe Energy Summit. The summit is expected to focus on urgent policy interventions needed to stimulate investment in energy generation and address the country’s critical power shortages.