KEY POINTS
- World Bank warns Zimbabwe of severe economic losses due to climate change.
- El Niño-induced drought led to a 60 percent drop in maize production.
- Urgent climate adaptation measures are needed to prevent further economic damage.
The World Bank delivered a direct warning to Zimbabwe about how climate change would decrease national gross domestic product (GDP) by up to 12 percent each year unless essential climate protection measures are put in place.
In its latest Zimbabwe Economic Update Report, launched in Harare on Friday, the World Bank urged the government to focus on strengthening resilience against climate-related shocks, particularly in the agriculture sector, which serves as a critical pillar of Zimbabwe’s economy.
The government statistics show agriculture generates between 11 percent to 14 percent GDP share and provides jobs to 70 percent workers while supplying 60 percent industrial raw materials.
The extensive dependence on rain-fed farming methods and maize cultivation makes Zimbabwe susceptible to natural climate events such as droughts and extreme weather occurrences.
Severe drought threatens food security and growth
El Niño conditions produced such devastating drought for Zimbabwe’s 2023/2024 farming season that maize production fell to 60 percent below the five-year average.
Less rainfall and increased temperatures jointly intensify both food scarcity and economic problems throughout Zimbabwe.
According to New Zimbabwe, the World Bank report emphasized that the government’s ambitious goal of boosting agricultural output to $12.5 billion by 2025 is now under threat.
The sole 2023/2024 drought generated economic losses of $363 million that weakened Zimbabwe’s trade balance and GDP performance as well as fiscal stability measures.
“Zimbabwe is caught in a vicious cycle of drought and recovery, which not only disrupts sustainable development but also worsens poverty levels,” said Easther Chigumira, senior agriculture specialist at the World Bank and co-author of the report.
The urgent need for climate adaptation
The World Bank proposes an economic solution against climate change through large climate adaptation spending and building preemptive shock prevention measures.
The report, titled “Improving Resilience to Weather Shocks and Climate Change,” highlights Zimbabwe’s opportunity to strengthen its resilience against climate-related disasters while fostering sustainable economic growth.
Zimbabwe can defend its economic stability and food security by implementing smart agricultural methods and water preservation measures together with climate-proof infrastructure development and implementation.
Experts warn that Zimbabwe’s economic future depends on immediate investments and proactive policies to adapt to climate change since the risks continue escalating.
