Rev Musindo, Clergy Applaud Treasury Team as Zimbabwe’s Economic Recovery Gathers Momentum

by Kudakwashe Ruzive

HARARE — Destiny of Afrika Network (DANet) founder and president, Dr Reverend Obedia Musindo, together with pastors, apostles and evangelists from various denominations, has applauded the Ministry of Finance and Economic Development for what they described as a significant contribution to Zimbabwe’s recent macroeconomic stabilisation.

The church leaders said the country’s economic trajectory should be assessed through measurable developments rather than social-media allegations and political noise, arguing that sustained economic stability requires policy continuity, fiscal discipline and confidence in national institutions.

At the centre of their praise were Finance, Economic Development and Investment Promotion Minister Prof Mthuli Ncube, Treasury Permanent Secretary George Guvamatanga, Reserve Bank of Zimbabwe Governor Dr John Mushayavanhu and their respective technical teams.

The World Bank says Zimbabwe’s macroeconomic situation stabilised significantly in 2025, with GDP growth rising from 1.7 percent in 2024 to 7.5 percent in 2025, driven largely by a recovery in agriculture and stronger global mining prices. The Bank also recorded a sharp improvement in price and exchange-rate stability.

The IMF has similarly described Zimbabwe’s recovery as resilient. In its July 2026 assessment, the Fund said the economy grew by 8.3 percent in 2025, with growth continuing into 2026 on the back of agriculture, mining and favourable gold prices. It projected approximately 5 percent growth in 2026, while noting that inflation had remained low and the exchange rate broadly stable.

For Rev Musindo, these developments constitute evidence that Zimbabwe’s economic story is no longer adequately captured by the instability of previous years.

“We are very upbeat about the economic development taking place. We have received thumbs up as a nation from international financial institutions, and the figures are beginning to tell a different story about Zimbabwe,” Rev Musindo said.

He argued that Zimbabweans should recognise the cumulative impact of reforms instead of focusing exclusively on controversies circulating on social media.

“Those who are serious about the development of the country can tell that the Ministry of Finance is working very hard. Economic stability does not happen by accident. It is a product of policy, discipline, coordination and commitment.”

Zimbabwe’s economic recovery has been particularly significant because it follows years of severe macroeconomic instability, currency volatility, shortages and repeated episodes of high inflation.

The IMF noted in May 2026 that Zimbabwe had spent more than two decades in debt default and largely excluded from international capital markets and official financing, while suffering repeated episodes of very high inflation and economic downturns. The Fund said improved policies and favourable external conditions had more recently brought inflation down to single digits, alongside stronger GDP growth and current-account surpluses.

The World Bank likewise says the country’s GDP growth accelerated sharply in 2025, while January 2026 recorded local-currency inflation of 4.1 percent and the parallel-market exchange-rate premium had declined substantially by the end of 2025.

He pointed to improvements that ordinary citizens can observe in the financial system and wider economy, including greater availability of foreign currency, broader use of digital and plastic payments, improved access to fuel, changes in transaction costs and efforts to stabilise the exchange-rate environment.

“When you look at the availability of liquid cash, the use of both US dollars and ZiG, the reduction in some banking transaction costs, the stability of prices, fuel availability and the increasing acceptance of digital and plastic payments, you begin to see the results of a broader policy effort,” he said.

The developments, he argued, should not be attributed to one individual alone.

“These are the results of combined Government efforts, spearheaded by the Ministry of Finance and the Reserve Bank. Hon Mthuli Ncube, Permanent Secretary George Guvamatanga and Governor John Mushayavanhu are part of a team that deserves recognition for the work being done.”

Thee IMF’s latest assessment provides an important external reference point.In July, the Fund said Zimbabwe and IMF staff had reached agreement on the first review of the country’s 10-month Staff-Monitored Program.

According to the IMF, implementation through March 2026 was broadly satisfactory, with all quantitative targets and structural benchmarks met, although one indicative target on protected social and priority spending was missed.

The Fund also said fiscal performance through March was stronger than expected, supported by revenue collection and conservative budget execution.

For Rev Musindo, renewed engagement with international financial institutions is itself an important part of the recovery story.

“The international financial institutions are looking at Zimbabwe again. The IMF is engaging the country, our economic figures are improving and there is a growing conversation about re-engagement. These are not things that should be dismissed.”

Zimbabwe has also been invited into the BRICS partner-country framework, an indication of expanding diplomatic and economic engagement with emerging-power institutions. However, the distinction is important: Zimbabwe should presently be described as a BRICS invitee/partner-country participant in the process, rather than a full BRICS member.

Stability under external pressureMusindo further argued that Zimbabwe’s recent economic performance should be considered against the difficult external environment.

The IMF noted that Zimbabwe remained resilient despite external shocks, including spillovers from the Middle East conflict through higher fuel and fertiliser prices, transport costs and shipping disruptions.

“Look at the external shocks that have affected the world. Look at the Middle East situation. Yet Zimbabwe has continued operating. We have seen fuel on the market, businesses continuing to trade and the financial system functioning. That resilience must be acknowledged,” Rev Musindo said.

He nevertheless maintained that the country must not become complacent.The World Bank cautions that Zimbabwe’s recovery remains delicate, with substantial fiscal and debt risks still present. The Bank says the country’s public debt remains unsustainable and in distress, while structural vulnerabilities continue to constrain poverty reduction.

That qualification is important because economic recovery is not synonymous with the disappearance of all economic challenges.

A warning against economic pessimism:

Rev Musindo’s strongest criticism was directed at what he described as “social-media puppets” and detractors who, in his view, make unsubstantiated financial accusations against officials and businesspeople without considering the broader national economic picture.

“There are people who are not happy when they see Zimbabwe stabilising. They raise all sorts of issues on social media, and their objective is to create confusion and undermine confidence. We must not allow petty allegations to derail national economic progress,” he said.

He invoked the biblical story of Nehemiah as an illustration of maintaining focus amid distractions.

“The Ministry of Finance must have the spirit of Nehemiah remain focused on the assignment and refuse to be distracted by petty things when there is a bigger national task to complete.”Rev Musindo’s comments amount to a broader argument: Zimbabwe’s economic debate should move beyond personalities and accusations towards measurable outcomes.

The numbers do not suggest that the country’s economic problems have disappeared. Debt distress, poverty, climate vulnerability, currency risks and fiscal pressures remain significant. But neither can the recent stabilisation simply be dismissed.

The World Bank estimates Zimbabwe’s 2025 GDP growth at 7.5 percent in its country assessment, while its June 2026 Global Economic Prospects projected growth of 4.6 percent in 2026 and 4.2 percent in 2027. The IMF, using a different forecasting framework and updated information, projected approximately 5 percent growth for 2026.

Zimbabwe is recovering rapidly from a very low base but the next challenge is to convert stabilisation into durable, broad-based prosperity.

For Musindo and the church leaders who joined him, that transition requires national unity, policy consistency and greater appreciation of institutions driving economic reforms.

“As Zimbabweans, we must learn to recognise progress while demanding even better performance. We need more entrepreneurs, more millionaires, more billionaires and, one day, more Zimbabwean companies operating at trillion-dollar scale. Wealth creation should not frighten us; productive wealth creation is part of national development,” Musindo said.

He lastly urged Zimbabweans to focus on building an economy capable of sustaining investment, employment and industrialisation.

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