Zimbabwe: Prof Ncube's Award Confirms Second Republic's Hard Work

11 December 2023

Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube was voted the best African Finance Minister of the Year on Friday in London.

And to add the icing on the cake, Prof Ncube was named among the 100 Most Reputable People at the two-day Global Reputation Forum, Reputable Bank and Fintech Awards held in Westminster, England.

The award was a witness to the strides Zimbabwe is taking to achieve economic development.

Prof Ncube accepted his award by presenting a paper and gave a keynote address at the forum.

The award came after the Reputation Poll International recognised the Second Republic for managing to grow the economy by over 3 percent even after the devastating Covid-19 era and the devastating sanctions.

Zimbabwe, under the guidance of President Mnangagwa, navigated itself to fight and contain the Covid-19 pandemic and showed high levels of resilience to become one of the fastest-growing economies in Sub-Saharan Africa in the last three years.

Despite persistent propaganda against Zimbabwe, Prof Ncube was voted the best Finance minister in Africa.

The 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.''

It should be noted that The Best Minister Award commends the extraordinary work of government ministers in demonstrating excellence in the public sector and their design and implementation of successful, scalable and sustainable initiatives for the socio-economic advancement of their citizens.

It also celebrates efforts to inspire and lead other government leaders and service providers toward promoting innovation and foresight in shaping public discourse on global issues.

Prof Ncube's microeconomic reforms, particularly on tax, were both daring and substantial, and have stood the test of time.

His intellectual energy and openness to debate were inspirational in the Treasury of the New Dispensation. The award became a huge testimony coming from England.

Many people, regardless of their political persuasion, looked in awe as Prof Ncube carried the whole nation on his shoulders as he walked to the podium to proudly receive his award.

Flanked by the Zimbabwean ambassador to the UK, Colonel Christian Katsande (Retired), Prof Ncube inscribed his name in the halls of fame.

He has lived a life devoted to public service from the day he was asked to navigate Zimbabwe's economic field.

Prof Ncube, who made enemies and friends alike in his first five years as a minister, has become the minister whose calm expertise and honesty helped to guide Zimbabwe through the tumult of the global financial crisis and stabilised the country's economy against all odds.

Many in financial services also praised Prof Ncube as a gentle minister with a razor-sharp sense of humour.

His achievement is not a personal achievement, but a national achievement.

No matter what your views of him as a politician are, there is little doubt that his efforts during the financial crisis were central to pulling Zimbabwe if not the regional financial system, back from the brink.

His patience, force of will and diplomacy meant we narrowly avoided collapsing. It was his finest hour when he was recognised by those who would have thought otherwise. The journey to the award was not smooth.

Barely a year into his tenure as a Minister of Finance Prof Ncube had to steer the Zimbabwean economy through the worst financial crisis of the century.

His response to the banking crisis undoubtedly helped prevent a potential economic depression, including a swift intervention to stabilise the Reserve Bank of Zimbabwe.

Those who oppose the country had already dug a grave for the nation and dismissed Prof Ncube as a pretender.

But the judgement was delivered as Prof Ncube was voted the best minister in Africa.

The Global Reputation Forum, Reputable Bank and Fintech Awards celebrate the officials that have best managed to stimulate growth and stabilise their economy.

The award recognises the advances made by Zimbabwe's government in recent years despite facing difficult headwinds.

The Global Reputation Forum, Reputable Bank and Fintech Awards have recognised the contribution of the government's ''strong commitment to critical if difficult, reforms'', which have included austerity measures.

Prof Ncube has been the face of the country's economic reform programme since becoming the minister of finance in 2018.

His championing of this agenda in the face of significant obstacles saw him being awarded.

Under his watch, Zimbabwe's economic profile has improved significantly, with the country's public debt falling.

Zimbabwe's credit rating has improved.

Prof Ncube, addressing the function which was also attended by some members of the House of Lords of the United Kingdom, 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, 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.''

Among the dignitaries that attended the high-level global forum were - the Bank of England head of technology and security risk oversight Mr Peter Kolade Fashesin-Souza, the Right Honourable Baroness Sandip Verma, Members of the House of Lords, a global Transformational Expert Mr Pierre Montersino, and Mr Joe Gene Mulbah, the Liberia senior adviser on national infrastructural development to the President-Elect of Liberia, among others.

Commenting on the award, a Zimbabwean economist now in the UK Dr R Sinyoro said: ''The award gives fruit to the foresight President Mnangagwa has. He has not disappointed in his Cabinet selection.''

Prof Ncube has given Zimbabwe a pleasant Christmas box.

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