Support ZimAsset, SK tells pension industry

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new party spokesperson Simon Khaya Moyo

SENIOR Minister Simon Khaya Moyo (pictured) has urged the pensions industry to create a conducive environment for pension funds to operate viably by providing the country with sustainable solutions to financial challenges under the government’s economic blueprint ZimAsset.

MTHANDAZO NYONI
OWN CORRESPONDENT

Addressing delegates at the third annual Zimbabwe Pension Funds Investment Forum (ZWPFIF) at a local hotel, Khaya Moyo said pension funds could play a pivotal role through the development of capital markets as well as inject the much-needed capital into developmental projects where beckoning opportunities were available in the various infrastructural sectors of the economy.

He said infrastructural development remained a focal point towards the economic growth strategy as part of key economic growth factors.

“We have thus identified priority areas in this sector as power supply and water and sanitation provision. This is because these utilities are basic necessities required by the rest of the sectors to perform effectively and to fully meet the set targets under ZimAsset,” Khaya Moyo said.

“Clearly, therefore, this Zimbabwe economic growth strategy is hinged on efficient and reliable supply of electricity that will power the wheels of industry under the value-addition and beneficiation cluster, enable the use of modern agricultural technology and engender efficiency in the delivery of crucial social services to all.”

Moyo also said the government had put in place a special economic zone (SEZ) regime aimed at accelerating investment in the various sectors of the economy.

He said the government envisaged the SEZs to trigger an influx of investors to set up shop taking advantage of the generous investment incentives. Khaya Moyo said they would tighten screws on corrupt investors out to fleece locals of their God-given natural resources under the guise of investment.