Leveraging Zimbabwe's mineral endowment for economic transformation and human development

Abstract

For the past two decades, Zimbabwe has experienced a pervasive economic collapse. Most of the challenges were caused by policy inconsistencies, bad policy choices, economic mismanagement and political instability. This led to deindustrialization with a sharp decline in manufacturing and agriculture productivity and output, which consequently caused a sharp increase in unemployment and poverty.Although it is not fully developed, the mining industry in Zimbabwe presents an opportunity for economic stimulation that may lead to economic recovery, but requires broad-based economic reforms. This paper presents the findings of a review, and benchmarking of Zimbabwe's policies, which affect mining investment, inclusive economic growth and human development. The policies were benchmarked and compared to similar policies of Botswana, Namibia and South Africa using the Natural Resources Benchmarking Charter Framework. The outcomes of the review and benchmarking process were taken into consideration when coming up with policy suggestions that are meant to economically transform Zimbabwe, which at the same time brings sustained human development. The work reported in this paper is part of an MSc research study in the School of Mining Engineering at the University of the Witwatersrand.