AS 2024 draws to an end, we find ourselves just two months away from a well-deserved break. Soon, we will scatter across the country to spend time with our families, reflecting on a year that has tested us all.
It has been a year shaped by the El Niño-induced drought, which severely affected agricultural output and added strain to an already challenging economic environment.
Before we turn our attention to the year ahead, I want to express my deep gratitude to the leadership of our EISAZ President, Mrs. Chiedza Chigombe, and the entire National Executive Council. Their guidance has
been invaluable. I also want to acknowledge the unwavering support from our Regional Council Chairpersons, Mr. Chris Mushiwokufa and Mr. Ernest Jackson. Their dedication has been instrumental in helping us navigate a tough year, and we remain hopeful for a better 2025. At the start of 2024, there was a great deal of promise. The Manhize Steel Plant Project was successfully completed, marking a significant milestone for Zimbabwe’s iron and steel industry.
Production has begun, and there is hope that this will lead to a revival of both upstream and downstream industries, injecting new life into the economy. Optimism was further fuelled by the introduction of a gold-backed currency six months ago. There was hope this measure would stabilise the
economy and improve performance. However, recent developments have tempered that optimism. The Reserve
Bank of Zimbabwe (RBZ) devalued the gold-backed currency by over 40% against the US dollar, bringing the exchange rate to 24 Zig to US$1. The central bank described this decision as a “back to basics approach” aimed at restoring price and currency stability. The economic challenges have been compounded by the ongoing
drought, which has hindered growth. As a result, the domestic economy is projected to grow by just 2% in 2024—down from the 3.5% initially forecasted in the National Budget. Despite these setbacks, we look ahead with cautious optimism.
With the forthcoming launch of NDS2 and continued efforts towards Vision 2030, we remain committed to doing our part in promoting economic recovery. For Zimbabwe to reach its true potential, it is vital that we all
contribute—offering solutions that drive effective policy-making and support development. EISAZ will continue to play a pivotal role in advocating for policies that encourage investment, productivity, and job creation.
Together, we must help shape an environment that fosters growth and prosperity for all. As we close out the year, I wish all of you success in your businesses as we tackle the final quarter of 2024. Let us remain hopeful that the coming year will bring better opportunities and renewed growth.

Good luck, and I look forward to seeing what we will achieve together in 2025.

MATTHIAS RUZIWA
SECRETARY GENERAL