Online Reporter
Sukulwenkosi Dube-Matutu
LOCAL authorities in Matabeleland South have been urged to develop attractive investment profiles highlighting bankable projects in their districts to improve uptake of business opportunities and accelerate local economic growth.
Speaking during the Matabeleland South Investment and Post Budget Review Conference in Gwanda, Ministry of Finance, Economic Development and Investment Promotion chief director for economic affairs, Mr Joseph Mverecha, said councils had been capacitated to better position their districts for investment.
“We discussed a wide range of investment issues, which are important for local authorities and RDCs and investment opportunities in the province. Matabeleland South is a gateway to South Africa, which is the largest Southern African Development Community economy and one of our leading trading partners,” he said.
Mr Mverecha said local authorities must take greater responsibility for driving district development as part of efforts to achieve Vision 2030, which aligns with the national development agenda.
“The Ministry is executing His Excellency President Mnangagwa’s Vision 2030 and we are moving around to ensure provinces are capacitated to expand what they are already doing as far as investment is concerned,” he said.
Mr Mverecha said the conference also provided an opportunity to identify barriers affecting investment, including financing gaps and weak co-ordination processes.
He said councils were introduced to financing strategies such as public-private partnerships and raising capital through the Zimbabwe Stock Exchange and Victoria Falls Stock Exchange.
Beitbridge Rural District Council chief executive officer Mrs Kiliboni Ndou said local authorities were also encouraged to formalise businesses operating within their districts.
“As Beitbridge, most of our businesses are small to medium enterprises and some are informal. We will engage our traders to inform them of the avenues they can take to formalise their businesses and register as formal businesses,” she said.
Gwanda Rural District Council chief executive officer, Mr Ranganai Sibanda, said investors often assess how efficiently councils conduct business, including whether approval systems are overly bureaucratic and what incentives are available.
Umzingwane Rural District Council chief executive officer Sithembiso Sibanda said councils had learnt how to better
package projects for funding consideration.
“All along, we have been coming up with projects but failing to get any takers. From this conference, we have been educated on how to come up with bankable projects,” she said.
Minister of State for Matabeleland South Provincial Affairs and Devolution, Albert Nguluvhe, said the province offers significant investment opportunities across all seven districts.
“Matabeleland South has abundant mineral resources, including gold, lithium, limestone, diamonds, chrome and coal, alongside opportunities in livestock breeding, citrus production, fish farming, dairy farming and crop production,” he said.
Minister Nguluvhe said the province also has opportunities in the livestock sector, which include livestock breeding, citrus production, fish farming, dairy farming and crop production. Minister Nguluvhe said value addition remains low.
The conference was held under the theme: “Investing for Impact: Driving Inclusive and Sustainable Development.” The Ministry is also using the platform to unpack the National Development Strategy 2.
It was conducted in a hybrid format to allow for all potential investors and stakeholders to connect virtually.
The main objective of the provincial investment conference was to showcase investment opportunities in Matabeleland South and trigger serious engagements with potential investors. The conference also gave insights into the country’s investment climate as well as policy and regulatory frameworks.
Participants included Government officials, international, diaspora and domestic investors, local authorities and the business community.
—@DubeMatutu
