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Roselyne Sachiti in MIDRAND, South Africa
Zimbabwe’s agricultural sector is experiencing a resurgence attributed to the implementation of effective agronomic practices, including climate-resilient initiatives as well as improved irrigation methods, Vice President Kembo Mohadi said yesterday.
Speaking at an engagement with Indian and German investors residing in South Africa, VP Mohadi said Zimbabwe was reclaiming its status as a breadbasket of Africa.
He then extended an invitation to the business community to consider investing in Zimbabwe’s agriculture and other sectors of the economy.
Under the leadership of President Mnangagwa, Zimbabwe has come up with several transformation measures that benefit investors, VP Mohadi said.
He said in light of climate change and the increasing unpredictability of rainfall patterns, Government initiated the construction of dams and other water bodies.
“The dams we built across the country are there to ensure that climate change does not affect our agriculture,” he said.
“We have more than 10 000 water bodies for irrigation of our staple food maize, sugarcane and wheat.”
In the last three years, Zimbabwe achieved a surplus in wheat production and has not needed imports, driven by the measures to boost the sector and the general success of the Land Reform Programme.
Said VP Mohadi: “We want to feed our population through irrigation. We no longer want to depend on rain-fed agriculture.”
Zimbabwe, he said, is also in the process of modernising its infrastructure such as roads, border posts and airports.
The Beitbridge Border Post and Robert Gabriel Mugabe International Airport, said VP Mohadi, were a priority for the Second Republic and have undergone significant transformation, surpassing the standards of some in the SADC region.
In terms of benefits associated with taking up opportunities in Zimbabwe, VP Mohadi said all investors are guaranteed 100 percent repatriation of profits and some tax holidays if they invested in Special Economic Zones.
Zimbabwe remains open for investment as it creates jobs, while highly skilled locals from tertiary institutions learn new skills and new infrastructure is set up, which won’t be taken by the investors when they decide to go elsewhere.
VP Mohadi bemoaned challenges such inflation that came as a result of Western imposed sanctions, although inward thinking by the Second Republic has turned most of the challenges into opportunities.
For instance, Zimbabwe turned the tables against currency saboteurs by coming up with the Zimbabwe Gold, a local currency backed by gold.
“Our currency is now backed by gold reserves and other precious minerals at the Reserve Bank. It becomes very difficult for anyone to cause inflation on something that is backed against gold.
“Through the transformative leadership of President Mnangagwa, noticeable changes are increasingly being observed across all sectors of the economy, hence we are asking you to come and invest,” said VP Mohadi.
Zimbabwe is also using its own resources to improve and rehabilitate existing infrastructure in its quest to achieve Vision 2030 of an empowered upper middle income society.
“First and foremost we have declared that Zimbabwe is open for business. When you come to Zimbabwe, we have a one-stop (investment) shop.
“You come there, you register and the moment you walk out of the building, everything would have been done and you will be able to go out and do your business if you have anything you are interested in.
“I know those that have never been to Zimbabwe, who read about Zimbabwe through the media sponsored by our detractors, think Zimbabwe is a failed State; (in fact) Zimbabwe is a peaceful country and has a conducive environment for any kind of investment that you would like to do.
“In another five years or so, if nothing interrupts our development trajectory, we will be one of the most developed countries in SADC. We have the resources, the first resource is the human capital, very educated human capital.
“We are also endowed with a lot of mineral resources,” said VP Mohadi.
He also told investors that Zimbabwe is exploring the possibility of exploiting gas and oil deposits, which were discovered in Muzarabani.
“We are now assured of gas and we are going to drill further for oil, but possibilities are that we are going to get oil in Zimbabwe,” he said.
Apart from oil and gas, there are other minerals such as lithium, of which Zimbabwe has the second largest reserves in the world.
An iron and steel industry, probably one of the largest in Africa, has been set up in Mvuma by Dinson Iron and Steel Company (Dinson), which is expected to place Zimbabwe as one of the top producers of steel and related products in the world.
“There is no country that can develop without steel so we are going to have a lot of it. Zimbabwe is poised for growth,” said VP Mohadi.
Online Reporter