We will make a case for more investment: VP Chiwenga

Mukudzei Chingwere in New Delhi, India

ZIMBABWE will leverage India’s existing investment foothold in the country to make a case for more at this week’s Africa Conclave on India-Africa Partnership, Vice President Dr Constantino Chiwenga has said.

The VP arrived here yesterday leading a multi-sectoral Zimbabwean delegation scouting for investment to give impetus to the country’s economic development trajectory as envisioned by President Mnangagwa.

The delegation’s prospects are boosted by the confidence that the Asian economic giant, which is also the world’s fifth largest economy, has already shown through many projects in Zimbabwe.

“We are looking at a number of investment areas,” VP Chiwenga told journalists.

“You are aware we have been working with India in various economic areas, mainly in the energy, SMEs sectors.” 

The Indians are now looking into other areas of interest in Zimbabwe, which Harare will gladly showcase. 

The delegation is strong, said VP Chiwenga, as it includes the private sector, besides the Government team.

The private sector is looking for areas of co-operation with their counterparts in India.

VP Chiwenga is one of the keynote speakers and will make a presentation on Zimbabwean opportunities before a diverse audience including fund managers with billions of US dollars looking for investments.

India is one of the top five investment source markets for Africa, having invested over US$73 billion between 1996 and 2022. 

Trade has also grown exponentially, running into billions annually. 

India has also extended concessional loans of over US$12,37 billion to Africa and has completed about 197 projects.

There is potential for further partnerships in areas such as digital transformation, green technologies, health, food and water security.

VP Chiwenga is accompanied by Health and Child Care Minister, Dr Douglas Mombeshora, Permanent Secretary in the Ministry of Industry and Commerce Dr Thomas Utete Wushe, chief executive officers of Mutapa Investment Fund, ZIDA and other senior Government officials.