Harare – Zimbabwe’s newly sworn-in Minister of Economic Development and Investment Promotion Kudakwashe Tagwirei has pledged to mobilise local and foreign capital to support Government projects and advance Zimbabwe’s economic development strategy.

Tagwirei made the remarks at State House in Harare on Monday shortly after being sworn into office by President Emmerson Mnangagwa.

He said his mandate would focus on aligning the economic objectives of the National Development Strategy 2 (NDS2) with the government’s development priorities while ensuring projects receive the funding they need.

“In essence, my role would be to look at the economic objectives of the National Development Strategy and the 10 pillars of the National Development Strategy and ensure that the economic side of it is aligned to that NDS2,” Tagwirei said.

He said mobilising funding would be central to his responsibilities, with capital sourced both locally and internationally.

“My role will be able to bring in capital in Zimbabwe, foreign and local, to make sure that those objectives are met,” he said.

Tagwirei’s appointment follows the restructuring of the former Ministry of Finance, Economic Development and Investment Promotion into two separate ministries, with Professor Mthuli Ncube reassigned to head the Finance Ministry.

Mnangagwa announced the appointment of his close associate, Tagwirei, on Thursday under Section 104(1) of the Constitution of Zimbabwe.

Critics have questioned the rationale behind the ministerial restructuring, raising concerns about potential taxpayer costs and whether the changes would improve government efficiency or create additional bureaucracy and expenditure.

Former finance minister during the National Unity government, Tendai Biti, criticised the appointment, calling it “the personification of state capture” and “the Gupturisation of the Republic.”

Biti, who previously chaired Parliament’s Public Accounts Committee, questioned Tagwirei’s suitability for public office, citing his alleged involvement in major government-funded programmes and transactions.

Tagwirei’s appointment is likely to deepen factionalism in the Zanu-PF party, after Vice President Constantino Chiwenga openly denounced Tagwirei for corruption, calling him Chigananda.