Online ReporterLOCAL Government and Public Works Deputy Minister Albert Mavhunga has implored local authorities in Zimbabwe to formulate strategies that create investment opportunities for the diaspora community and other investors in their areas of birth.
He said this at the ongoing Khumbul’ekhaya Investment Conference (KIC) being hosted by Bulawayo City Council at Cresta Lodge Msasa in Harare.
The efforts dovetail with the Second Republic’s policy thrust that “Nyika inovakwa nevene vayo/ilizwe lakhiwa ngabanikazi balo”, which recognises that no one else can build the country except its own citizens.
Deputy Minister Mavhunga emphasised the importance of creating a conducive environment that allows investment to flow seamlessly from local to global levels, thereby driving development goals and fostering economic growth.
He said this would involve streamlining regulatory frameworks, reducing bureaucratic barriers, and promoting a business-friendly climate that attracts both local and international investors.
Further indicating that doing so will allow local authorities to unlock new opportunities for growth, innovation, and job creation, ultimately contributing to the achievement of broader development objectives.
“The inaugural investment conference, “Khumbul’ekhaya,” exemplifies our commitment to harnessing the potential of our diaspora communities. I urge other local authorities across the country to emulate these efforts and explore investment opportunities that can attract our diaspora and international partners alike.
“Let us foster an environment where investment flows freely from local to global, fuelling our development goals. Together, united in purpose and action, we can realise a prosperous future for our cities, our country, and our continent,” said Deputy Minister Mavhunga.
This initiative showcases Bulawayo’s dedication to unlocking the vast potential of the diaspora communities, leveraging their expertise, networks, and resources to drive growth, innovation, and development in the second capital and beyond.
The indaba aims to foster meaningful connections, facilitate investment opportunities, and create a platform for knowledge sharing and collaboration that benefits Bulawayo, those that relocated to Harare and the diaspora community.
Bulawayo was once host to a thriving industrial empire, but the city has faced significant economic challenges, leading to a migration of talent and investments to other parts of the country, particularly Harare.
To reverse this trend, the conference aims to reconnect Bulawayo-born entrepreneurs and professionals now based in Harare with their roots, while exploring potential investment opportunities that could revitalise the city’s economy.
The conference has several key objectives, including promoting economic growth, facilitating knowledge exchange, and showcasing potential investment avenues in key sectors such as manufacturing, technology, tourism, and agriculture.
It is providing a platform for networking, sharing business trends, and discussing successful case studies specific to Bulawayo’s market.
The event is part of the Bulawayo City Council’s efforts to target potential investors in the diaspora and across the country, with a focus on tapping into the substantial community of Bulawayo-born professionals and entrepreneurs residing in Harare.
Future editions of the conference are planned for Bulawayo and other key diaspora hubs, with the potential for virtual components to reach an even broader global audience.
Online Reporter