Renowned American economic analyst Steve Hanke says the naming of Mthuli Ncube as the Best African Finance Minister of the Year is a joke.
“Zimbabwe’s Finance Minister Mthuli Ncube has been named the “Best African Finance Minister of the Year.” What a joke.
“Today, I accurately measure Zimbabwe’s inflation at 943%/ year. That’s the highest in the world,” says.
According to Hanke the following are the world’s highest inflation rates, with the Zimbabwean dollar topping the charts:
“HankeInflation Dashboard: Once again, Zimbabwe (943%/yr), Argentina (227%/yr), Venezuela (154%/yr), Syria (153%/yr), & Lebanon (134%/yr) come in as the world’s top five inflaters.”
Apparently, Ncube was voted the best African Finance Minister of the Year and named among 100 Most Reputable People at the two-day Global Reputation Forum, Reputable Bank and Fintech Awards held in Westminster, England, yesterday.
Prof Ncube, who presented a paper and gave a keynote address at the forum, was presented with the award after the Reputation Poll International recognised the Second Republic for managing to grow the economy by over three percent even after the devastating Covid-19 era.
Crucially, the recognition was in light of Zimbabwe having used its resources to fight and contain the Covid-19 pandemic and shown high levels of resilience to become one of the fastest growing economies in Sub-Saharan Africa in the last three years.
While presenting Prof Ncube with the award, Reputation Poll International chairman, Lord John Waverly said:
“In today’s rapidly evolving financial landscape, the convergence of technology and banking has given rise to a new era of financial management challenges and the Zimbabwean Minister, with a shoe-string budget, managed to fight the Covid-19 pandemic with the Government and country recording minimal Covid-19-related human deaths.”
Zimbabwe recorded just over 5 500 Covid-19-related deaths compared to other countries that lost over 500 000 people, despite having top-notch health facilities. Total global Covid-19 deaths were 6 949 745.
In his address at the function, that was also attended by some members of the House of Lords of the United Kingdom, Prof Ncube said the Zimbabwean economy had steadily grown, while critical infrastructure had been improved under the Second Republic, even under economic sanctions.
“We have also recently presented a (2024) Budget proposal that is meant to improve our economy,” said Prof Ncube.
In an interview, with the Herald, Prof Ncube said he was “delighted to have been honoured as the African Minister of the Year 2023, Global Reputation Poll”.
“I received the award in London, UK, at the Global Reputation Forum,” he said.
“This award is a recognition of all the work I and the Treasury team have put into implementing various economic policies and financial management that have spearheaded the transformation of the economy.
“The focus on domestic resource mobilisation in funding Government programmes in the face of limited international credit lines and prudent management of public finances, within a public deficit of less than 1,5 percent of GDP over the last five years, is being recognised.”
Zimbabwe’s Ambassador to the United Kingdom, Christian Katsande, said the Second Republic had grown the economy under difficult circumstances.
He urged Zimbabweans living in the UK to take advantage of the opportunities created by President Mnangagwa’s Government to invest back home.
Ambassador Katsande added that foreign investors should equally take advantage of the Second Republic’s engagement and re-engagement drive to invest in Zimbabwe.
“We have borne witness to the fruits of the engagement and re-engagement drive by the Second Republic and therefore encourage investors to take advantage of the unending investment opportunities unveiled by His Excellency President Mnangagwa’s mantra, ‘Zimbabwe is open for business’,” he said.
Zwnews
