Audrey Galawu
The Zimbabwe Investment and Development Agency recorded a 12.5% increase in the third quarter in the number of investor licences issued by the Agency with the energy sector recording the highest projected investment value at US$2.8 billion (US$2 800.58 million) with six new licences being for the third quarter.
The mining sector had the second highest projected investment value at US$411.97 million with 86 new licenses being issued.
During the period in question, 82% of the projected investment value for all new licence approvals were issued in the energy sector, with 180 new licences issued in the third quarter with a total projected investment value at ZWL3.4 billion (US$3 408.79 million).
According to the report, the largest projected investment was by New Eagle Industrial Park (Pvt) Ltd which intends to invest US$2.3 billion towards the development of an energy industrial park in Mapinga.
This was followed by Sunone (Pvt) Ltd with US$496.8 million towards the development and operation of a 500MW solar power plants in Mazowe, Manhize and Mutoko.
The manufacturing sector had the third highest projected investment value, recording an increase both in projected investment value and number of new licences issued.
The sector recorded a projected investment value of US$112.78 million compared to US$25.46 million recorded in the second quarter, while a total of 46 new licences were issued compared to 29 issued in the last quarter.
ZIDA Chief Executive Officer, Tafadzwa Chinamo said the agency continues to attract and facilitate investments that drive economic growth and development regardless of the challenges, registering encouraging investor interest across most sectors during the quarter.
“Our dedicated Gems outdid themselves as the team worked tirelessly to promote our country as a worthwhile investment destination, the result being a significant rise in inquiries, investor visits, and investment projects in the pipeline as well as licensed.
“This surge in investor confidence is testament to the robustness of the country’s investment ecosystem and the efforts we have channelled towards informing the world of the bountiful investment opportunities and collective government thrust to continually improve and simplify the business environment,” he said.
The Agency also revealed that they partnered with the Zimbabwe National Chamber of Commerce, CBZ and the Reserve Bank of Zimbabwe to simplify the investment process and ease of doing business.
The collaborations, according to Chinamo, will play a vital role in creating an enabling environment for investment, streamlining regulatory processes, and providing tailored support to investors.
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