Misheck Ugaro

President; Zimbabwe Economics Society

[Limukani Mathe Ph.D @DrLimukaniMathe]

Air Zimbabwe flying straight to UK. No more via OR Tambo, South Africa. Welldone Air Zimbabwe

[Misheck Ugaro @twitcagan]

HIGH LEVEL POLICY DIALOGUE ON CHILD PROTECTION FINANCING IN ZIMBABWE. https://t.co/ebdDFnVWHg

[ZNCC National Office @ZNCCNational]

#EconomicInsights
As we closed off the month of June and transitioned into July, global and domestic economic developments continued to signal improving business conditions.

Falling global oil prices following Middle East ceasefire agreements and the reopening of the Strait of Hormuz eased pressure on global trade and contributed to lower fuel prices in Zimbabwe, helping to contain inflation. At the same time, the Monetary Policy Committee's decision to reduce interest rates is expected to lower the cost of borrowing and improve access to finance for businesses.
Strong foreign currency inflows, stable single-digit inflation, and the introduction of new ZiG-denominated savings instruments have further strengthened macroeconomic stability. While businesses should remain prudent, the improving economic environment presents opportunities for growth, investment, and strategic expansion in the months ahead.
#TheVoiceOfBusiness

[Misheck Ugaro @twitcagan]

But it is the @IMF that comes here and directs poor states to cut budget spending on social services!

[Hopewell Chin’ono @daddyhope]

The words “welfare state” are unfortunately now often used as an insult and in a derogatory manner. There is nothing wrong with providing healthcare to every citizen, as Britain does through the NHS. A society should be judged by how it treats its most vulnerable people, not by how many billionaires it creates at the exclusion of the majority.

Britain and many Western countries have shown that it can be done without breaking the bank. Countries such as Sweden, Norway, Denmark, Finland, Germany, the Netherlands, France, Austria and Belgium all provide extensive social welfare programmes and varying forms of universal healthcare while maintaining strong economies and high standards of living.

The idea that caring for citizens is somehow incompatible with economic success is simply not supported by the evidence available. In many cases, these countries rank among the most prosperous, productive and stable societies in the world.

It is shameful that millions of Americans still lack adequate healthcare coverage in the richest country in the world, while tax cuts and incentives are handed to billionaires on the backs of hardworking people. Healthcare is not a luxury, it is a basic human need.

Prof Anthony Giddens, one of the leading thinkers behind modern social democracy, argued that the question is not whether a welfare state should exist, but how it should be structured to create opportunity, security and social justice.

In The Third Way and The Third Way and Its Critics, Prof Giddens argues that a modern society should guarantee healthcare, education and a social safety net for all citizens

He believed that healthcare, education and a social safety net were essential investments in people, not acts of charity. His view was that a modern society should provide universal services while also empowering citizens to participate fully in economic and social life.

Universal healthcare, education and safety nets are investments in human potential and social cohesion, not simply welfare handouts. Those are the things that people like Elon Musk mock and label “welfare state” in a derogatory way.

Prof Giddens also argued that the welfare state should move beyond simply handing out benefits. He proposed what he called the “social investment state”, where governments invest heavily in people’s health, education, training and skills so that citizens can participate fully in the economy and society.
I recommend his two books to you, my brother. If you are in Johannesburg, I can lend them to you.

Capitalism sharks often blame social welfare for economic failures that are actually caused by the incompetence of governments. There are countless stories of children and adults from poor families whose lives were saved by the NHS and who later went on to become doctors, scientists, engineers, teachers, entrepreneurs and innovators.

We often celebrate their achievements without recognising that many of them would never have had the chance to fulfil their potential if society had not invested in them when they were most vulnerable. So saying the welfare state is expensive to run is like justifying living a champagne lifestyle whilst your kids are struggling without school fees.

[African Development Bank Group @AfDB_Group]

With a $3.98 million grant from the @theGEF, the @AfDB_Group will implement the Southern Africa Great Green Wall Accelerator, an initiative designed to tackle desertification and restoring resilient landscapes across the #Kalahari and #NamibDeserts.

➡️ https://t.co/SHRdmq0Dhu

[Misheck Ugaro @twitcagan]

It was always coming. Well done Hon Minister

[Hon Prof Mthuli Ncube @MthuliNcube01]

Zimbabwe scored 62/100 in the 2025 Open Budget Survey by the International Budget Partnership, well above the Sub-Saharan African average of 38/100. Zimbabwe ranks 3rd in Sub-Saharan Africa behind South Africa and Benin, and 2nd in SADC.

[Misheck Ugaro @twitcagan]

Authorities are now on the baby steps to establish a yield curve. Are we now heading for a proper bond market. Tune in tomorrow DSTV Channel 294

[Misheck Ugaro @twitcagan]

MHSRIP

[Nick Mangwana @nickmangwana]

Ambassador Victor Matemadanda passed away last night. This is a deeply saddening loss. Dr. Matemadanda served as Zimbabwe’s Ambassador to the Republic of Mozambique and the Kingdom of Eswatini. Sincere condolences go to His Excellency the President, whom he represented with dedication, and to his family, friends, colleagues, and the nation at large. MHDSRIP

[Misheck Ugaro @twitcagan]

@kudzie_sharara @KudzieSMhlanga @Kudzie Thats exactly my point. You cant use one graph for the two different scenarios as if everything was the same. The ZWL period graph must be seperated from the Zig graph so we see the movements under each environmental conditions

[Misheck Ugaro @twitcagan]

@KudzieSMhlanga @kudzie_sharara Yes @kudzie what is the baseline. The period of analysis creates a lot of statistical bias. A fair analysis would be to compare like with like by breaking down two periods pre and post ZiG and analyse these periods separately. As it is oranges have been mixed with apples.

[Misheck Ugaro @twitcagan]

@Jamwanda2 @ZimbabweReview Not so fast. Let the authorities develop the Bond markets which they have now started through those two recent issues of 30 and 90 day paper ( an attempt at the yield curve). They are creating a home for the ZIG so its release must not be too fast. Let then deepen the market 1st.

[Reserve Bank of Zimbabwe @ReserveBankZIM]

Resolutions of the Monetary Policy Committee Meeting held on 15 June 2026

Click here to download the statement https://t.co/Qi1PK8tmoc

[Hon Prof Mthuli Ncube @MthuliNcube01]

The Ministry of Finance, Economic Development and Investment Promotion has launched stakeholder consultations to gather input into the formulation of the 2026 Mid-Term Budget and Economic Review and the 2027 Budget Strategy Paper (BSP).
https://t.co/hx4XM1VNoG

[Jamwanda @Jamwanda2]

MYTH VERSUS FACT: Zimbabwe is host to many Africans from different countries, including South Africans. We have fellow Africans from West, Central, East and Southern Africa. We have refugee centres here. That this has never been a talking point is because we are welcoming, in the Pan-African spirit. This false impression that only Zimbabweans go to other countries needs to be debunked!! It’s simply false. On the African continent, Zimbabwe houses the second largest group of South Africans living outside their country.

[Misheck Ugaro @twitcagan]

There remains pockets of resistance to the ease of doing business reforms as some inefficient regulators refuse to come out of their comfort zones eg councils.

[Hon Prof Mthuli Ncube @MthuliNcube01]

The future we envisage will not be built by Government alone; it will be built through collaboration, innovation, and investment. We therefore remain committed to maintaining macroeconomic stability, strengthening policy predictability, and improving the ease of doing business.

[ZNCC National Office @ZNCCNational]

The Zimbabwe National Chamber of Commerce (ZNCC) today held a constructive engagement meeting with the International Monetary Fund (IMF), represented by Resident Representative Dr. Daniel Gurara, Economist Andrew Ziswa, and Petronella Chishawa.

Discussions focused on Zimbabwe's macroeconomic reform agenda, including progress under the Staff Monitored Programme (SMP), debt and arrears clearance, foreign exchange market reforms, fiscal sustainability, public debt management, and measures to strengthen confidence in the Zimbabwe Gold (ZiG) currency.

The meeting also explored policy options to deepen financial sector development, improve public financial management systems, enhance debt transparency, and create an enabling environment for private sector growth and investment.

ZNCC shared private sector perspectives on industrialisation, access to affordable and patient capital, tax reforms, and regulatory improvements necessary to improve business competitiveness and economic growth.

As part of strengthening collaboration and policy dialogue, ZNCC extended an invitation to the IMF to participate in the 2026 ZNCC Annual Congress.

ZNCC remains committed to constructive engagement with key stakeholders in advancing policies that support sustainable economic growth, private sector development, and Zimbabwe's economic transformation.

[Misheck Ugaro @twitcagan]

@tmukogo Delta growth is indeed a proxy of Zim GDP growth. Brilliant analysis @tmukogo

[Tinashe Mukogo @tmukogo]

1/11 To understand business in Zimbabwe, you need to understand Delta Corporation, the country’s largest listed company and one of the few companies with over $1 billion in revenue.

Delta’s recent results reveal so much about the Zimbabwean economy, business operations, taxation, and what 2026 is going to look like that we will need to split these posts into a series.

Here is Part 1: Billions in Revenue, Strong Performance, but Two Big Risks.

Let’s Unpack!

[Misheck Ugaro @twitcagan]

Do you remember when you joined X? I do! #MyXAnniversary

[Misheck Ugaro @twitcagan]

May Her Soul Rest in Peace. Good bye Perpe. It was a pleasure knowing you even for such a brief period

[ZNCC National Office @ZNCCNational]

It is with profound sadness and heavy hearts that we announce the untimely passing of our colleague Perpetua Guwila who was a member of secretariat serving as the Regional Manager for ZNCC Manicaland. She passed away this morning ( 27/05/2026) at Parirenyatwa Group of Hospitals.

Perpetua affectionately known as Perpe was a valued member of our team who served chamber for over 20years. She will be remembered for her dedication to advancing economic progress, her great team effort, professionalism & positivity. The void she has left is already being felt by us at chamber and all who had the privilege of knowing and working with her
Our sincere condolences go out 💐 to her family, friends & loved ones

We will share information regarding the funeral arrangements once it becomes available
May Perpe’s soul rest in eternal peace. ☮️