Matabeleland North Province seeks to leverage MICE events for economic growth

VICTORIA Falls- Zimbabwe- Matabeleland North Province in Zimbabwe, home to the tourism capital of Victoria Falls, is aiming to maximize the value of Meetings, Incentives, Conferences, and Exhibitions (MICE) events to attract investors and drive economic development.

The Provincial Affairs and Devolution Minister Richard Moyo has said the province needs to realise value from the Meetings, Incentives, Conferences and Expos (Mice) which should draw investors into the local economy.

The province is home to the tourism capital Victoria Falls which hosts most Mice events.

Welcoming captains of industry at the Zimbabwe National Chamber of Commerce 2024 congress in Victoria Falls, Minister Moyo, in a speech read on his behalf by acting Hwange District Development Coordinator Mr Simbarashe Kaela, said hosting national and international events give the province in general and Victoria Falls in particular, a great sense of pride to be associated with such high-ranking economic activities aimed at driving the country’s economic development agenda forward.

He said the ZNCC Annual Congress is taking place not so long after the 2024 CEO Africa Round Table Annual event a fortnight ago where captains of industry converged at the same venue.

Minister Moyo said the ZNCC congress is a flagship event which facilitates dialogue between various stakeholders including the Government, members of the diplomatic community, international organisations, civil society, non-governmental organisations, the academia and the media fraternity.

“This event allows us to probe further how together, as stakeholders and responsible citizens, we can explore sustainable industrialization and climate-smart business growth to unlock the economy’s full potential. We are being challenged to explore innovative strategies and ways not only to grow the economy but also to ensure environmental sustainability.

“As the Minister of State for Matabeleland North, let me take this opportunity to highlight some of the greener energy resources that exist within the province. Matabeleland North is endowed with large deposits of lithium which is used for manufacturing batteries for electric vehicles, thereby mitigating CO2 emissions. Furthermore, Matabeleland North enjoys abundant sunshine which can be used to produce solar energy. Vast opportunities also exist in ecotourism.

“I would therefore, like to take the opportunity to call on all potential investors to consider investing in the economy of the future and make Matabeleland North your investment destination of choice,” he said.

Minister Moyo said Zimbabwe should unlock new innovative methods paving the way for a greener and more resilient economy for the sustainable growth and development of businesses and communities.

He said the Government is committed to international arrangements such as the Paris Agreement with various projects focused on environmental stewardship and climate resilience.

“It is therefore pleasing to note that efforts are currently underway for both the business community and regulatory bodies to promote energy efficiency, use of renewable energy and adoption of cleaner technologies.

“Climate-smart business growth, focusing on sectors like agriculture, manufacturing and tourism, is seen as crucial for reducing emissions and building resilience. Although challenges such as lack of access to finance and technical expertise remain, Zimbabwe is poised for transformative change by leveraging its renewable energy resources and commitment to sustainability,” he said.

Minister Moyo said the theme: “Unlocking New Frontiers for Sustainable Industrialization and Climate Smart Business Growth” dovetails with the vision of President Emmerson Mnangagwa, to grow the economy through increased development of industries and the use of sustainable and climate-friendly production processes.

He said Victoria Falls is home to the Victoria Falls Stock Exchange, the country’s only foreign currency-denominated bourse which presents immense benefits to investors, chief among which is raising capital in the much-needed foreign currency. -@ncubeleon