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Ivan Zhakata
Herald Correspondent
Zimbabwe has become a self-sufficient agricultural powerhouse in the production of wheat with a record high harvest of 467 900 tonnes in 2023, a 25 percent from the 375 000 tonnes recorded in 2022, the Minister of Finance, Economic Development and Investment Promotion, Professor Mthuli Ncube has said.
Speaking at an investment conference being held under the 7th SADC Industrialisation Week, Prof Ncube said there are opportunities for the private sector to invest in agriculture and agro-processing.
The minister said the region is endowed with vast watercourses such as the Congo and Zambezi Rivers, with the Inga Dam situated on the Congo River offering sites with potential hydro energy resources that could meet the energy requirements of the DRC and the region to drive industrialisation.
“According to the African Development Bank, the total hydropower potential in SADC countries is estimated at 1 080 terawatt-hours per year (TWh/year). The capacity being utilised at present is just under 31 TWh/year,” he said.
“I would want to commend the AFDB for their continued support to African countries and towards the development of the SADC region, particularly in the energy sector.”
In addition, he said efficient and affordable services (consisting of transport, communications, ICT, energy and water supply) are critical inputs for reducing transaction costs for industry and trade, as well as for enhancing the economic and social well-being of the society.
“Consequently, cross-border infrastructure investment opportunities exist in all infrastructure areas mainly in the transport, energy, ICT and water supply sectors,” he said.
Online Reporter