Reboot for public investment management system
The Treasury has announced bold plans to revamp the country’s public investment management framework in 2025 to address inefficiencies in project delivery.
The challenges have in the past resulted in cost overruns, delays and stalled projects, which affected infrastructure development and undermined national goals.
In his 2025 National Budget Statement, Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube outlined the comprehensive strategy to bring efficiency and effectiveness to the system, key in realising Vision 2030 targets.
“In order to actualise the above, the Project Preparation and Development Fund will be fully capacitated to support activities such as feasibility studies, environmental impact assessments, and detailed project designs,” said Mthuli.
This move, he emphasised, would ensure that only well-prepared projects are undertaken, significantly boosting the probability of their successful implementation.
Mthuli added that initiatives under the Zimbabwe Investment and Development Agency (ZIDA), the Infrastructure Development Bank of Zimbabwe (IDBZ), and the Southern African Development Community Project Preparation Development Fund, would provide additional support for project preparation.
A significant part of the strategy entails enhancing the public investment management architecture through a series of targeted measures.
Tinevimbo Shava, an economist, welcomed the reforms but urged vigilance in implementation. “The measures outlined by Minister Ncube are promising, especially the focus on project preparation and capacity building,” Mr Shava noted.
“However, success will depend on strict adherence to the outlined strategies and minimising bureaucratic delays.
“The Project Preparation and Development Fund is a step in the right direction, but it needs to be transparently managed to ensure resources are utilized effectively.”
One key strategy was capacity building in critical areas such as project identification, planning, implementation, and monitoring and evaluation.
Through empowering personnel across Government departments, the Treasury hoped to lay a strong foundation for sustainable project delivery.
He also stressed the importance of tapping into consultancy and technical skills within the private sector and other Government departments to bridge knowledge and expertise gaps.
Another significant measure relates to improving the project coordination framework.-ebsinessweekl
