Chronicle Editor
Leonard Ncube, [email protected]
MATABELELAND North Province is aiming to consolidate its investment potential and opportunities, leveraging its natural resources to contribute to the national development agenda. The province is hosting a conference to showcase investment opportunities across its seven districts.
The province is home to four Local Boards: Binga Local Board, Hwange Local Board, Lupane Local Board, and Tsholotsho Local Board. The rest are rural local authorities, namely Binga Rural District Council, Bubi RDC, Hwange RDC, Kusile RDC, Nkayi RDC, Tsholotsho RDC, and Umguza RDC.
Speaking on the first day of the conference yesterday, Matabeleland North’s Director for Economic Affairs and Investment, Mr Godfrey Mukwakwami, emphasised the event aims to promote investment opportunities in the province.
“Investors are attracted to areas with existing infrastructure. The goal of this conference is to showcase investments that align with Sustainable Development Goals and encourage sustainable practices as we position Matabeleland North as an investment hub,” Mr Mukwakwami said.
The province has organised the investment forum as part of its efforts to unlock its vast economic potential by attracting the diaspora community and potential foreign investors to tap into available opportunities. Matabeleland North is home to a large number of its citizens living and working abroad, particularly in South Africa, Botswana, and beyond.
The conference is seen as a key driver for revitalising the economy, with the aim of making the private sector a more significant contributor to national development, helping the country achieve upper-middle-income status by 2030.
The province offers vast opportunities in mining, wildlife conservation, tourism, and agriculture. It is home to one of the world’s natural wonders, Victoria Falls, and one of Africa’s largest game parks, Hwange National Park. Local authorities and various agencies are expected to present on the investment opportunities in their respective areas.
Discussions will focus on the investment climate in the province, current trends, and the challenges faced. There will also be presentations on public-private partnerships, infrastructure, housing, and ease of doing business.
It is anticipated that, following the conference, the province will see increased value addition to its resources and endowments through the expected investments. This will contribute to the creation of sustainable business linkages and an increase in industrial output.
The event, hosted by the Office of the President and Cabinet, brings together local and foreign investors for an interactive investment engagement through both virtual and physical platforms. Local authorities and other business players will pitch investment opportunities.
By connecting the province to a wider audience of investors and exposing it to the latest innovations, technologies, and modern trends, the conference is expected to enhance the province’s attractiveness and competitiveness on the global market.
The population of Matabeleland North grew from 749 017 in 2012 to 827 645 in 2022, according to Zimstat. Of these, 427 632 are females, while 400 013 are males.
According to the Zimbabwe Investment Development Agency (Zida), Matabeleland North is one of the provinces that investors are particularly interested in. Tourism, mining, and energy generation are key economic activities, with coal mining and processing companies in Hwange, and several gold mines in Bubi District. Tourism is spread across all seven districts due to the presence of wildlife.
Despite much of the province being in ecological regions 4 and 5, both crop and livestock farming are thriving. The province has 695 771 cattle, with Lupane, Nkayi, and Bubi having more than 100 000 each, and other districts having fewer than 100 000. There are also 51 938 sheep, 499 658 goats, 35 455 pigs, 117 889 donkeys, 177 horses, 1 181 168 poultry, and 99 803 dogs in the province.
There is substantial potential for investment in every sector, which is why Matabeleland North was designated a Special Economic Zone (SEZ), with a focus on tourism and financial services. The Government is courting investors to develop the Masuwe City SEZ, which will be the centrepiece of this development. Zimbabwe Cricket recently committed to being the first investor in Masuwe SEZ.
The conference is expected to open up new avenues for value addition to the province’s resources and endowments, creating sustainable business linkages and boosting industrial output. — @ncubeleon
Online Reporter