daniel chigunweOliver Kazunga
THE Zimbabwe Investment and Development Agency (ZIDA) says investors’ interest into the country remains strong with the number of investment licences issued in the last quarter of 2024 increasing by 342 percent to 200.
In the corresponding quarter in 2023, the country registered 149 investment licences with a total value of US$11,502 million compared to US$4,586 million registered in the fourth quarter last year.
ZIDA, in its quarterly report for the fourth quarter of 2024, said: “Interest from investors to invest in the country remains strong with 200 investment licenses issued in the fourth quarter, higher than the 149 issued in the same period in 2023.
“In terms of the amount’s investors committed to invest, Q4 2023 had a higher value of US$11,502 million compared to US$4,586 million in the fourth quarter of 2024.
“The decrease is attributable to several high-value projects in 2023.”
And on the bright side, the agency said Zimbabwe recorded an increase in the number of licenses renewed during the quarter under review compared to the same period in 2023.
“Analysed by sector, the mining sector continues to attract the greatest number of investors measured by the number of licenses issued.
“In terms of value, investors are committing to invest in the real estate sector and had the highest value accounting for 43,60 percent of the total projected investment for the quarter.
“The energy sector was next, accounting for 22,76 percent of the projected investment value for the quarter.
“In total, we recorded investments in 12 sectors demonstrating the diversity of the Zimbabwean economy an attribute we intend to showcase in the future,” said ZIDA.
The agency said the Government is committed to improving the investment climate and simplify the business landscape — and adopting a whole of Government approach, the Cabinet tasked the Office of the President and Cabinet to spearhead a project to improve the ease of doing business.
“The OPC in turn enlisted in ZIDA to lead the establishment of a Single Window for Investor Entry and Establishment (SWIEE).
“The SWIEE will provide investors, foreign and local, online access to all Government services.
“This service addresses a need highlighted by investors in the Investor Sentiment Analysis Survey conducted by the agency.
“The survey responses reflected an overall positive outlook on Zimbabwe’s investment prospects,” said ZIDA.
“As we plan for 2025 and beyond our attention will be on all sectors, provinces and stakeholders in line with the Government’s aspirations to becoming an upper middle-income economy by 2030. “Emphasis will be placed on attracting investment in innovation, technology, and manufacturing.”
The agency said its investment attraction efforts will incorporate sound environmental, social and governance principles, and the implementation of measures to ensure all investments are sustainable with investors socially-responsible.
Bongani Ndlovu