malvernmugadzikwa
Fungai Lupande
Mashonaland Central Bureau
MASHONALAND Central has set aside 980 hectares of rural land and removed obstacles for investors to drive rural industrialisation.
On Thursday it hosted its provincial investment conference at the Makumbiri Game Park in Mazowe, with the oversubscribed event attracting local and international investors.
Speaking at the conference, Mashonaland Central Minister of State for Provincial Affairs and Devolution Christopher Magomo said the province is poised to become an industrial hub.
“This is through the channelling of resources towards infrastructure projects to enhance connectivity and reduce logistical barriers,” he said.
“There is huge potential for rural industrialisation in our province, especially in Mbire and Muzarabani, due to the discovery of oil and gas, which promises to drive downstream industries.”
Home Affairs and Cultural Heritage Minister Kazembe Kazembe, who is also the Member of Parliament for Mazowe West, urged potential investors to refrain from holding land for speculative purposes, emphasising the province’s potential to transform rural areas into hubs of economic activity.
“The enthusiasm exhibited by the investors highlights the potential of Mashonaland Central in transforming rural areas into hubs of economic activity.
“The provincial leadership is supporting investment promotion and economic growth in the province. We urge Government office bearers to observe the ease of doing business and shun corruption,” he said.
Director of economic affairs and investment in Minister Magomo’s office Mr Levi Katambarare said 33 percent of the province’s Gross Domestic Product (GDP) is from agriculture whilst mining accounts for 19 percent of the provincial GDP.
He said the province has significant investment potential in platinum, chrome, nickel, lithium and other minerals.
“We are the least urbanised province with only three towns, and the appetite for urbanisation is huge with a housing backlog of 119,000 units,” he said.
He also highlighted the comparative advantage gained through the dualisation of the Harare-Mazowe Road and the construction of the boulevard road that connects to the new Parliament in Mt Hampden.
Several companies presented their investment pitches at the conference.
Local diversified company Pote Valley said it has set aside US$1, 4 billion for the development of a green and modern city around Masembura Dam in Bindura rural.
It said it plans to establish modern architecture similar to that of Dubai, including a floating wedding venue, an Olympic stadium, a partially water-based five-star hotel, a 100-megawatt solar farm, a shopping mall, a university and a game park.
Additionally, it also plans to invest in a gold refinery, a food processing centre and a 60,000-seat football stadium.
The company’s representative Mrs Patience Patongamoyo said feasibility studies have been completed, and they are now collaborating with a local bank.
Also, the company said it has secured investors from the USA and Dubai.
Mining entity Magaya Mining said it is establishing a $12 million gold processing plant near Jumbo Mine in Mazowe, set to be completed by November this year.
The plant aims to benefit artisanal miners and tap into the estimated $60 billion gold reserves in Mashonaland Central, to empower small-scale miners.
Young Tech Engineering said it plans to invest $30 million in Mazowe and is in discussions with the Zimbabwe Investment and Development Agency to establish a special economic zone industrial park.
The park will include a $15 million gold processing and purification plant, creating about 1,000 job opportunities.
Additionally, the company plans to invest in a conference centre.
Online Reporter