Government has promised to incentivise those who are willing to get off the electricity grid and adopt renewable energy as part of efforts to ease pressure on electricity demand in the country.
The country has been experiencing massive load shedding that lasts up to 18 hours a day, which the Zimbabwe Electricity Supply Authority (ZESA) attributing it to critically low water levels at the main hydro plant station in Lake Kariba and ageing equipment at Hwange Power Station.
Speaking on some of the government plans for 2020 Minister of Finance and Economic Development Professor Mthuli Ncube said the government had put in place a number of plans to revive the economy.
“We will be giving incentives to those who want to go off grid and putting in place solar systems as well,” said Prof Ncube.
He added that $8,5 billion has been set aside to improve electricity output in the country.
“$8,5 billion has been set aside to improve ZESA’s output and to import additional electricity, power is expected to increase as more independent producers come online,” said Prof Ncube.
On the cash situation, Ncube said ZWL$500 million will be injected into the economy in forms of cash and notes in the next six months to ease the cash crisis.
“An additional $500 million dollars in notes and coins will be put into the economy in the next six months of 2020, we expect this to ease the demand of physical cash and you wouldn’t be ripped off by money dealers who sell cash at various percentages and mark up prices,” he said.
Food insecurity is also expected to be a thing of the past as the country will import enough foodstuff for the whole country, the minister said.
“No Zimbabwean should go hungry we would be importing wheat, we will be importing soya beans to make sure that they is enough food on the table.”
He also promised employment opportunities to youths through the youth employment tax incentive and the national venture fund have been set to ensure this.
“Every young Zimbabwean should get a job, the youth employment tax incentive and the national venture fund have been introduced to create opportunities for jobs for the young people,” said Prof Ncube.
