By a Correspondent
Businessman and Zanu PF central committee member Kudakwashe Tagwirei has been sworn in as the Minister of Economic Development and Investment Promotion, taking charge of a newly separated portfolio previously housed under the Ministry of Finance.
Tagwirei’s appointment follows President Emmerson Mnangagwa’s decision to split the Ministry of Finance, Economic Development and Investment Promotion, leaving Professor Mthuli Ncube in charge of Treasury while transferring economic development and investment promotion functions to the new ministry.
The changes were announced on October 8 by Chief Secretary to the President and Cabinet Martin Rushwaya.
Under the new arrangement, Ncube retains responsibility for the national budget, revenue mobilisation, public expenditure and fiscal management, while Tagwirei takes charge of the economic development and investment promotion portfolio.
The businessman was recently appointed to the Senate and has taken on an increasingly prominent role in public affairs.
However, Tagwirei’s appointment comes with potential challenges. His business interests and the United States and United Kingdom sanctions could complicate efforts to engage some international investors and financial institutions.
