Скачать или смотреть Zimbabwe’s official GDP data puts it ahead of regional peers, banking sector tells a different story

While Zimbabwe’s official GDP data puts it ahead of regional peers on size, its banking sector tells a different story: the key sector is far smaller than that of its neighbours.

At the CZI’ post-budget seminar today, BancABC’s James Wadi says this shows that much of the economy is informal, and businesses have limited access to the loans that they need to grow:

🇿🇲 Zambia: US$8.2bn in deposits, US$4.1bn in loans
🇲🇿 Mozambique: US$11.7bn in deposits, US$4.5bn in loans
🇿🇼 By deposits, Mozambique’s banking sector is three times bigger than Zimbabwe’s
Zimbabwe’s top three banks hold just US$2bn in deposits, while Mozambique’s top 3 hold have four times more

Zimbabwe’s leaders are obsessed with appearances to the point of being a whitewashed tomb! These glaring contradictions are not therefore surprising to any one who knows Zanu PF thugs’ mentality.

Mnangagwa and his cronies are pushing the narrative that Zimbabwe will be a upper middle income nation by 2030, vision 2030, and so the regime has to protect the image of prosperity even when the economy is shrinking.

Zimbabwe’s GPD per capita in 2017, when Mnangagwa took over, was US$2k it has hardily moved an inch, 8 years latter. It must increase to US$6k in 5 years to attain vision 2030. The IMF projected a 6% growth rate next year and that would an achievement this is not enough to increase GPD three fold!

Vision 2030 is a mirage!

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