Online Reporter
Robin Muchetu
VICE President Kembo Mohadi yesterday met with a delegation of investors in Bulawayo to discuss potential investment opportunities within the Matabeleland region.
During their discussions, he affirmed the Government’s commitment to improving the ease of doing business and assured them that he would consider the proposals put forward, which are projected to bring significant development to the area.
The investor delegation from MAEC 87 International is eager to unlock further opportunities through a loan and a grant, which will see the three provinces of Matabeleland — Bulawayo, Matabeleland North, and Matabeleland South — directly benefiting, with the rest of the country also reaping the spin-offs from the venture once it receives approval. Emerging from the closed-door meeting with the investors, VP Mohadi, whilst not going into extensive detail, provided a brief overview of their private discussions.
“We had an engagement with investors that are actually interested in funding the development corridor, the Trans Limpopo Corridor from Beitbridge up to Victoria Falls hence we had the three Ministers of State for Matabeleland South, Bulawayo Metropolitan and Matabeleland North.
“We deliberated on that. They (investors) have a fund that they think they can advance to us. But there are certain technicalities that we have discovered of how we would have wanted it done,” said VP Mohadi.
As the Second Republic focuses on transforming the economy towards Vision 2030, the Trans-Limpopo Spatial Development Corridor, a development initiative aimed at unlocking economic potential between Zimbabwe and South Africa, is a key area of interest. It also seeks to ensure that the two countries engage in discussions and collaborate to improve people’s livelihoods in a positive manner. VP Mohadi highlighted that the investment opportunities will further be analysed before a decision to bring them on board is made. “So, we have adjourned and we have said to the Reserve Bank Governor and the funders themselves, the people advancing the loan, go and sit down and come and give us a position tomorrow (today) as to which is the legal or the right way to do this,” he said.
The investors pitched their proposals including funding modalities before the Vice President, Ministers of State for the three provinces where development will take place, the Reserve Bank of Zimbabwe representative and other key representatives to this initiative.
The investment is set to see the provinces tapping into various developmental projects available that suit their areas.
There are job creation opportunities that will be unveiled once investment outcomes are made public, which feeds directly into ensuring no one and no place is left behind. The proposed investor is not new to development initiatives in the country as the Government approved a US$110 million Public Private Partnership investment with them for the construction and upgrading of the 120-kilometre Old Gwanda Road.
They highlighted in an earlier interview that there are vast investment opportunities within the corridor including, agriculture, industries, mining, tourism and many more.
The project was initially estimated to cost US$110 million, but it was recently revealed that the figure may be closer to US$150 million, with US$40 million assigned to enhance the road’s elements and cultural storytelling.
Some architectural designs, which show how the Old Gwanda Road have been availed, aim at promoting the diverse tourism offerings of Matabeleland South, with prominent tourism facilities and cultural sites integrated into the design. — @NyembeziMu
