‘Empowering Change: Strengthening Zimbabwe's Local Currency to Advance Gender Equity and Climate Resilience in the 2025 Budget’
By Clariss Rufaro Masiya
The 2025 National budget is set to place a pronounced emphasis on building resilience, a decision that comes as no surprise given the numerous challenges the country has faced due to climate change. The devastating effects of the El Niño-induced drought, in particular, have wreaked havoc on the nation’s agricultural production, underscoring the urgent need for a robust response. The Zimbabwean Government is committed to bolstering resilience not only in currency matters but also in climate-related challenges, particularly within the agriculture sector. This sector is pivotal to the national economy, contributing around 15% to the National GDP and sustaining the livelihoods of approximately 60% of the country’s population.
Furthermore, it accounts for 23% of formal employment and supplies 63% of the raw materials required by the manufacturing sector. The agriculture sector is therefore interwoven with numerous backward and forward linkages that enhance the entire production value chain, solidifying its status as the backbone of Zimbabwe’s economy. Given its importance, it is only logical that the 2025 budget will prioritize measures to strengthen resilience in agriculture among other key sectors such as the Mining, Tourism and Manufacturing Sectors.
Despite this focus, a pressing concern arises regarding the gender dimensions of this resilience-centered budget, particularly in how it aims to uplift women within these key sectors. For example, in Zimbabwe agriculture employs a staggering 70% of the population, with women comprising a significant majority of this workforce. Historically, however, women have been relegated to a silent and marginal role in the sector. They represent only 37% of the global rural agricultural workforce, and this figure rises to 48% in low-income countries like Zimbabwe. The work they undertake is often grueling, labor-intensive, and aligned with small-scale marketing efforts that yield tight profit margins—much of which is a consequence of ongoing gender disparities and societal marginalization.
The barriers facing women are compounded by gender-based discrimination that restricts their access to quality jobs, essential services, productive resources, and market opportunities. Globally, data reveals that between 2011 and 2021, the gender gap in financial inclusion has persisted at 7%, escalating to 9% in developing economies. Despite their vital contributions to food systems, women’s efforts are, all too often, overshadowed by their dual responsibilities of combining productive work with domestic and caregiving tasks. This imbalance creates a significant workload that remains largely unrecognized. Furthermore, prevailing sociocultural norms stifle their autonomy in decision-making within local and national decision making platforms.
If the essential roles that women play along the agricultural, mining, tourism and manufacturing value chain, along with their specific needs and priorities, are neglected, the opportunities for them to engage in and derive benefits from within these sectors’ practices will diminish rapidly. The detrimental effects of climate change, in conjunction with a fragile currency, further hinder women’s capacity to reach their full potential in contributing to and invigorating Zimbabwe’s GDP. Consequently, crucial questions emerge: What can the Zimbabwean Government do towards stabilizing its economy while promoting gender sensitive resilient budgeting? How can this resilience-centered budget not only contribute to Zimbabwe’s GDP but also empower women by enhancing their resilience? What specific roles do women occupy in this strategy centered on resilience?
The Zimbabwean government stands at crucial crossroads, facing the pressing challenge of stabilizing its economy and enhancing the local currency, the Zimbabwe Gold (ZiG). As the country prepares for its 2025 budget, it’s clear that the task at hand goes beyond simple fiscal management; it calls for a harmonious blend of strategies that strengthen the currency, promote gender equity, and improve climate resilience.
Imagine a future where effective monetary policies inspire trust in the ZiG, unlocking the door to a stable economy. It's vital for the government to adopt innovative approaches that marry economic ambitions with sustainable development, crafting a dynamic and inclusive environment for all citizens. This journey is not just about crunching numbers; it's about nurturing a resilient economy that elevates every member of the community. Here’s how this vision can become a reality:
Controlling Inflation: Low and stable inflation rates are the backbone of a strong currency. To achieve this, the Reserve Bank of Zimbabwe should utilize robust monetary policy tools — like adjusting interest rates and engaging in open market operations — to safeguard the purchasing power of the local currency, ensuring it remains trustworthy for individuals and businesses alike.
Enhancing Currency Valuation: Consistent evaluation and adjustment of the ZiG’s worth are essential for its stability. The government must collaborate closely with the Reserve Bank to ensure that the currency mirrors the economic landscape, free from the distortions of speculative forces.
Boosting Exports: A focus on increasing exports must be at the heart of the budget, as it plays a critical role in strengthening the local currency. By championing sectors like mining and agriculture, the government can stimulate foreign currency inflows, which would ultimately support and stabilize the ZiG.
Strengthening Financial Institutions: The government should take decisive action to fortify the financial sector, ensuring that banks and other financial entities can effectively bolster economic activities. This involves enhancing regulatory frameworks to promote sound banking practices and foster investor confidence.
To ensure a robust and resilient economy, it’s imperative that our government champions not only currency stability but also the integration of gender equity into its economic policies. This approach opens the door to inclusive growth, where the contributions and needs of all genders are recognized and celebrated. Here are several impactful strategies to realize this vision:
Invest in Women-Led Initiatives: There is need to make the 2025 national budget a beacon of support for women-led projects, especially in sectors that are most affected by climate change, like agriculture and water management. By empowering women entrepreneurs and farmers, we can enhance their economic strength and build resilience against climate challenges.
Adopt Gender-Responsive Budgeting: Imagine a budget that reflects the needs of everyone. Implementing gender-responsive budgeting ensures that the voices of women and marginalized groups are heard in every financial decision. This practice not only helps spotlight existing disparities but actively works to close those gaps, paving the way for fair climate resilience initiatives.
Build Sustainable Infrastructure: Investing in infrastructure like water conservation systems, renewable energy projects, and sustainable agricultural practices is crucial. Such initiatives won’t just protect the nation from climate change; they’ll also create jobs and boost economic growth. The key? Ensuring these projects benefit both men and women equally, bringing all community members into the fold of climate adaptation efforts.
Harness International Climate Financing: By actively seeking international partnerships and funding for national climate resilience initiatives, Zimbabwe can showcase its commitment to gender equity and sustainable development. These investments can stimulate our local economy, bolstering currency stability through heightened economic activity.
Raise Awareness Through Public Campaigns: Knowledge is power! Conducting community education campaigns to highlight the significance of gender equity and climate resilience is vital. By sharing the benefits of a resilient, gender-responsive budget, the government of Zimbabwe can rally community support and foster an environment where these initiatives thrive. Tailoring these educational programs to engage both men and women emphasizes that achieving gender equality is essential for reaching our sustainable development goals.
Promote Community Participation: Finally, there is need to make sure everyone has a seat at the table. Engaging local communities in the decision-making processes related to national budgets and climate resilience projects guarantees that their perspectives and needs are front and center. This collaborative approach is not only more effective but also leads to sustainable outcomes that everyone can be proud of.
Conclusion
Strengthening Zimbabwe's local currency while simultaneously championing gender-equitable climate resilience projects necessitates a multifaceted and strategic approach. To achieve this, the government must implement robust monetary policies that ensure stability, prioritize gender equity in all economic initiatives, and invest in sustainable infrastructure that can withstand climate challenges, and foster greater public awareness about these critical issues. As the formulation of the 2025 national budget unfolds, these strategies will be crucial for nurturing a resilient and inclusive economy that can weather the ongoing impacts of climate change.
The journey ahead is filled with promising opportunities. By wholeheartedly embracing these initiatives, Zimbabwe can create a more prosperous economic landscape for all its citizens. A key aspect of this journey involves closing the gender gap within national budgeting processes. By doing so, not only can the government bolster the resilience of the local currency, but it can also invigorate the economy by enhancing women's participation. This participation is vital, both in shaping budgetary decisions and in engaging with projects designed to promote resilient livelihoods in the face of climate adversity. The success of these efforts will ultimately lead to a more equitable and sustainable future for Zimbabwe.
Clariss Masiya is a dedicated Gender Equality and Social Inclusion Expert with a strong focus on Climate Justice and Sustainable Community Development. Currently serving as the Program Officer for Gender Equity and Social Inclusion at Green Governance Zimbabwe Trust (GGZT), she plays a crucial role in ensuring the integration of gender-responsive strategies into GGZT's climate action initiatives. Clariss works to address gender inequalities through inclusive approaches, advocating for marginalized voices in the fight against climate change. She holds a BSc in Peace and Governance and is pursuing an MSc in Disaster Management, furthering her expertise in building resilient communities. In addition to her work in social development, Clariss is an accomplished writer, contributing articles and opinion papers on topics related to gender, governance, and sustainability.
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