Online Reporter
Obey Sibanda
MATABELELAND North, a region rich in natural resources and human capital, is being urged to take a giant leap towards economic transformation through industrialisation, local value addition and rural enterprise development.
Business leaders and stakeholders converged at the recent Matabeleland North Investment Conference in Douglasdale, Umguza District, to highlight the vast opportunities waiting to be tapped in the region.
According to Mr Menziwa Dube, a local businessman with interests in solar and renewable energy and road rehabilitation, integrating rural communities into productive value chains is crucial for achieving genuine economic inclusivity and balanced growth.
“With a majority of the population residing in rural areas, it’s essential that we bring these communities into the economic mainstream,” Mr Dube emphasised.
Mr Dube, who is also Zanu PF Area 2 District Coordinating Committee (DCC) Secretary for Finance and Economic Development in Bulawayo, underscored the importance of industrialisation in driving economic growth, creating employment opportunities, and increasing the region’s contribution to the national GDP. By adding value to local products and resources, Matabeleland North can unlock new revenue streams, stimulate entrepreneurship, and reduce poverty.
Moreover, the region’s vast natural resources, including minerals, agricultural land, and wildlife, present immense opportunities for investment and development. However, harnessing these resources requires strategic planning, infrastructure development, and policy support.
Mr Dube’s call for industrialisation and local development in Matabeleland North is not just an economic imperative but also a social one. By creating opportunities for rural communities, the region can stem the tide of migration to urban areas, reduce poverty, and improve living standards.
As Zimbabwe strives to achieve its economic transformation goals, Matabeleland North’s potential cannot be ignored. The region’s growth and development can have a ripple effect on the national economy, creating new opportunities for growth, employment, and prosperity.
The Matabeleland North Investment Conference has set the stage for a new era of economic growth and development in the region. It remains to be seen how stakeholders, including Government, business leaders, and local communities, will work together to unlock the region’s potential and drive sustainable development.
The conference, which was held under the theme: “Driving Socio-Economic Growth through Strategic Investments in Infrastructure and Value Addition,” attracted over 400 delegates and highlighted Matabeleland North’s vast opportunities.
The province boasts world-class mineral reserves, including coal, coal-bed methane (CBM), graphite, limestone, rare earth elements, lithium, gold and tin. Its fertile agricultural land also supports cattle ranching and crop production.
In 2023, the province posted the highest provincial GDP growth rate at 12.6 percent, surpassing the national average of 5.6 percent.
Projections indicate continued growth, with estimates of around 4 percent in 2025 driven by mining (19.6 percent), energy (23.5 percent), and manufacturing (9.3 percent).
