Andrew
Online Reporter
Cabinet has approved four investment projects that were presented by Finance and Economic Development Minister Professor Mthuli Ncube, who is the chairperson of the Public-Private Partnerships (PPP) committee.
The investment projects include a joint venture between TelOne, Flashcord and the National Venture Capital Company of Zimbabwe to form the Zimbabwe Innovation and Technology Company (Pvt) Ltd, which will manufacture ICT devices.
This was announced by Minister of State for Presidential Affairs and Monitoring Implementation of Government Programmes, Dr Joram Gumbo, who was standing in for Information, Publicity and Broadcasting Services Minister Monica Mutsvangwa during Tuesday’s post-Cabinet briefing.
Dr Gumbo said to date, 3 500 ICT gadgets have been manufactured, with production expected to reach 5 000 at the end of the year.
“The targeted export market includes Zambia, Malawi, Namibia, Botswana and Mozambique, and exports are estimated to generate US$25 million in the first three years and strengthening of local industries through engagement of local skilled personnel use of local and materials. This will promote both upstream and downstream industries,” he said.
Other projects include the partnership between ZMDC and Chandiwana Mines (Pvt) Ltd for the resuscitation of Sabi Gold Mine; a joint venture partnership between ZMDC and Govine Enterprises on the resuscitation of Shamrock Copper Mine; and engagement of Samano Holdings (Pvt) Ltd by Mazowe Rural District Council for the mining of Limestone at Dandamera Farm in Concession, Mashonaland Central.
Online Reporter