By A Correspondent- Masvingo businesspeople have poured cold water on claims by Finance, Economic Development and Investment Promotion Minister Mthuli Ncube that Zimbabwe’s economy is firmly on a growth trajectory, saying the figures being presented by government do not match the harsh conditions facing businesses and ordinary citizens.

Speaking at Masvingo Sports Club at the weekend, businesspeople questioned the credibility of the government’s economic narrative, arguing that rising costs, shrinking consumer spending, currency instability and mounting economic pressures continue to undermine businesses across the country.

Ncube, while presenting the 2026 Mid-Term Budget Review in Parliament last month, maintained that the economy was on course to grow by 5% this year despite global economic uncertainty.

He attributed the projected growth to favourable commodity prices, improved electricity supplies and stronger performance in key productive sectors, saying the forecast was significantly higher than the International Monetary Fund’s global growth projection of 3%.

However, Masvingo businesspeople said such projections were difficult to reconcile with what they were experiencing on the ground.

“Government can talk about growth, but businesses are dealing with declining purchasing power, unpredictable markets and consumers who simply cannot afford to spend,” one businessperson said.

Another businessperson said the government’s economic statistics appeared disconnected from the daily struggles of companies and households.

“Growth must be felt in people’s businesses and homes. If companies are closing, struggling to pay workers and battling to remain operational, then we have to ask who exactly is benefiting from this growth,” the businessperson said.

The businesspeople also raised concerns over poverty, unemployment, debt and the expansion of the informal economy, saying these problems continued to expose weaknesses in the country’s economic structure.

“Most of the people are surviving from hand to mouth. You cannot describe an economy as doing well when the majority of consumers are struggling to meet basic needs,” another participant said.

Concerns were also raised over Zimbabwe’s public debt, which has risen to more than US$22 billion, while the country remains under debt distress.

“Debt is a serious problem because it limits government’s ability to respond to the economic challenges facing the country. We need more than optimistic statements; we need a credible strategy to deal with the debt,” one businessperson said.

The crisis in public services also featured prominently, with participants pointing to deteriorating health services and inadequate remuneration for public sector workers.

“People are struggling to access decent healthcare, while workers are complaining that their salaries are no longer enough to sustain their families. These are economic indicators too,” another businessperson said.

The business community further criticised the state of the housing sector and government interventions that have seen some informal settlements demolished.

“People build homes from whatever little they earn, and when those homes are destroyed, their savings are destroyed with them. That cannot be ignored when assessing economic wellbeing,” a participant said.

The ZiG also came under fire, with businesspeople questioning its effectiveness as a medium of exchange and its ability to inspire confidence among consumers and businesses.

“The biggest problem is confidence. Businesses need a currency that people trust and can use consistently. Constant uncertainty makes planning almost impossible,” one businessperson said.

“When such a large part of the economy operates informally, it tells you that the formal economy is not creating enough opportunities or providing an environment in which businesses can survive,” another businessperson said.
The manufacturing sector was also described as having suffered years of decline, while unemployment and inequality remain major concerns.

“The productive base has been weakened for years. We need serious industrial revival, investment and job creation instead of simply celebrating figures that ordinary people cannot relate to,” a Masvingo businessperson said.

The businesspeople said government should focus less on presenting favourable statistics and more on addressing the structural problems confronting businesses and households.

“People do not eat economic growth percentages. They need jobs, affordable food, functioning hospitals, reliable currency and an environment where businesses can operate without constant uncertainty,” one frustrated observer said.

The businesspeople’s comments add to growing debate over whether Zimbabwe’s reported macroeconomic growth is translating into meaningful improvements in household incomes, business activity and living standards.

For many in the business community, the central question is no longer whether government can produce positive economic figures, but whether those figures are translating into tangible improvements for Zimbabweans.