Asian Herald speaks to Duduzile Shinya, the acting CEO and Chief Finance Officer of Zimbabwe Investment & Development Agency (ZIDA) on the opportunities for investors in the country to give their businesses a secure and flourishing home in Africa.
Why Zimbabwe?
Zimbabwe is at a delicate stage- with innumerable opportunities and areas for potential development. It is key to find Zimbabwe the right partners and open up the country to them to encourage the flourishing of economic development.
Sectors with potential in Zimbabwe
- Mining
The biggest sector seeking investment in Zimbabwe is the mining sector- the country has an abundance of mineral resources and the ability to process these resources into value-added products. Therefore, the potential in the mining sector is second to none.
- Agriculture
What comes soon after in terms of potential is the agricultural sector owing to Zimbabwe’s facilitating weather and abundance of crops which makes the hub of Africa favourable. The agricultural products can be then harvested, processed and exported based on requirement.
- Manufacturing
Zimbabwe has always had a history of being a leader in the manufacturing sector. After a slight lull in the manufacturing of industrial products, the country has had a realisation that this sector needs to be revived via reindustrialisation to the original potential that it has once proved to have.
- Technology
Bringing in the latest technologies to improve the efficiency of companies is a field with a lot of traction and Zimbabwe could play a key role in the development of these technologies for investors.
- Infrastructure
The country has a lot of potential for growth and Shinya believes that in order to lead that growth process, Zimbabwe needs to have a solid infrastructure in place. This could be in terms of transportation networks, telecommunication and electricity, just to cite a few instances.
In addition to these, a distinct area that Zimbabwe is leading within the continent is the tourism sector. This could be attributed to the different landscapes that Zimbabwe plays host to with a spectrum of mountains, waterfalls, game and white sandy beaches.
ZIDA is a Gamechanger
Shinya believes that, as an organisation, ZIDA is a gamechanger assisting in transforming the country. She is in-charge of overseeing the day-to-day operations of the agency, interacting with investors and covering the various sectors in Zimbabwe seeking investment. ZIDA is a one-stop investment setup with government officials assigned to the office in order to streamline company registration and they’re prepared to address queries and foreign currency confusions.
Types of Investments
There are primarily two types of investments that foreign investors could consider:
- Public/Private Partnerships for people looking to invest in government assets. There are certain areas of focus outlined. Alternatively, a private player can seek opportunities to partner with the government.
- Investment independent of the public sector or the government.
Zimbabwe is seeking out investors of all scales, inviting them into the country to leverage their skilled labour force, abundant natural resources and untapped potential.
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