Online Reporter
Walter Nyamukondiwa in KARIBA
Delegates at the ongoing Mashonaland West Investment Conference in Kariba have called on authorities and investors to prioritise strengthening of the exploitation of opportunities in the diversification of the economy and value addition of natural resources.
Upscaling to the high-value services sector of key pillars of the economy, including mining, agriculture and the service industry, has been identified as key in growing the country’s Gross Domestic Product (GDP).
Zimplats chief executive, Mr Alex Mhembere, said current contributions of key economic sectors were low and there was need to move from selling raw material or semi-value-added resources.
Mashonaland West Provincial Affairs and Devolution Minister Marian Chombo said value addition of the country’s natural resources presented opportunities for job creation and diversification of the economy.
“These natural endowments are not merely assets but gateways to unparalleled opportunities for value addition, job creation, and economic diversification,” said Minister Chombo.
“Let me emphasise that Mashonaland West Province is committed to creating a conducive and enabling environment for investment.
“We are dedicated to simplifying the ease of doing business, removing bureaucratic obstacles, and providing tailored support to help your visions come to fruition.”
She said the Mashonaland West Provincial Economic Development Plan, which aligned with the National Development Strategy 1 and objectives of Vision 2030, gave impetus to the growth of the economy.
Turning to the province, Minister Chombo said collaboration between the Government and all stakeholders was pivotal in development.
“Ladies and Gentlemen, It is crucial to recognise that our developmental success hinges on a collaborative approach—an integrated “Whole of Government, Whole of Economy” approach, where the Government provides leadership and strategic facilitation, while the private sector drives innovation, investment, and economic growth.
“Together, we are forging a future where every stakeholder plays a pivotal role,” she said.
Mr Mhembere said locals should actively identify and exploit opportunities in the province.
He said the province and the country have vast potential, which counted for nothing if not strategically exploited.
“If you look at the contribution of industries such as agriculture, which is the backbone of the economy, you will realise that its contribution is minimal at about 10 percent to GDP,” he said.
“Mining is slightly higher but the services sector is higher, which reflects the scenario in other economies.
“Value addition is the key that will unlock the growth of the economy. There are no mines to talk about in Dubai, but they value add our minerals for greater returns.”
Mr Mhembere said someone with an iPhone anywhere in the world does not know that some of the platinum on the screen came from Ngezi.
That, he said, showed the impact of value addition. Local authorities and various businesses presented on the opportunities for investment in Mashonaland West province.
“People should take an active role in identifying opportunities in Mashonaland West province,” he said.
“We have uranium in Mash West, but we may not have the capacity to use it for energy generation, but we can find people who can help us benefit from the resource.”
“Contribution of agriculture to GDP is at the primary level. Industry should add value what comes from the primary stages. Services carry the day.
“Take Mash West to the tertiary level to grow the provincial economy. If we are averaging 3 to 5 tonnes per hectare then we have not started realising much from the sector.”
Delegates from all sectors of the economy participated in the conference, while others followed and contributed virtually.
Those who joined virtually were from Dubai and Nigeria among others.
