Cabinet yesterday resolved to set up a Government Employees Mutual Savings Fund with effect from March 2020 wherein Government would provide $100 million as seed for the fund among other proposals to improve the welfare of its employees. The fund will be supported through the deduction of 2.5% of total remuneration from every civil servant.
Government will introduce a number of derivatives and investments assets by the end of the first quarter, which will help soften pension funds’ skewed investments in the equities market and property sector. These entities’ investment in properties currently means their funds are tied down for near-term obligations.
Zimbabwe Finance Minister Discusses Food Shortage, Economy: Visit the video here
The Mint Special Pre-Davos interview with Professor Mthluli Ncube: Visit the video.
Zimbabwe is on a journey. A marathon. Indeed, sometimes it feels more of a steeplechase. As although the journey has just begun, we have faced a multitude of challenges to overcome already. This was not unexpected. And as responsible economists, you must always prepare to tackle these obstacles.