Manicaland Investment Conference sets stage for economic growth

Tendai Gukutikwa
Post Reporter

THE inaugural Manicaland Provincial Investment Conference has set the stage for increased investment opportunities in the province, reinforcing Zimbabwe’s drive toward economic transformation.

Speaking at the event which is currently underway at a local hotel in the city, Minister of Finance, Economic Development and Investment Promotion, Professor Mthuli Ncube, outlined key sectors in Manicaland that offer lucrative investment opportunities, particularly in agriculture, mining, energy, tourism, and manufacturing.

“Agriculture remains a cornerstone of the economy, contributing 12 percent to GDP. In Manicaland, the sector contributes 16 percent to the provincial GDP, with fertile land and favourable climatic conditions making it ideal for high-value crops such as macadamia nuts, tea, coffee, and horticulture. Modernising and mechanizing our agricultural sector can unlock tremendous potential in this province,” he said.

Minister Ncube also said Manicaland is also Zimbabwe’s leading timber-producing region, yet there is a notable gap in value addition.

He called on investors to establish industries for processing timber into finished products such as ceiling boards, furniture, and doors.

“Despite its rich timber resources, the province lacks active companies engaging in value addition, presenting a unique investment opportunity,” he said.

He said Government remains commited to creating a conducive environment for both local and foreign investors, in line with President Mnangagwa’s mantra that ‘Zimbabwe is open for business.’

Acknowledging the impact of the El-Niño-induced drought on economic performance, Minister Ncube assured investors that Government interventions, including extending the multi-currency regime to 2030 and introducing the Zimbabwe Gold (ZiG) currency, have stabilized the economy.

“The introduction of ZiG in April 2024, backed by foreign currency and gold reserves, has brought about price stability and mitigated inflationary pressures,” he said.