Chronicle EditorSenior Business Writer
THE Zimbabwe Investment and Development Agency (Zida) has notified stakeholders that effective August 31, all licence applications will be processed exclusively through its DIY Licensing Portal.
This follows observations of swift adoption of the online portal by investors, accounting for 28 percent of all applications since its launch, marking a notable advancement in the ease of doing business reforms.
The portal was launched in February this year. In a notice, Zida said the portal is designed to streamline the licensing process, saving time and effort.
“We are excited to inform you that starting from 31 August 2024, all licence applications will be processed exclusively through our DIY Licensing Portal.
“This change is aimed at enhancing the efficiency and convenience of the investment registration process, allowing you to secure your Zida licence from anywhere in the world,” reads part of the notice to stakeholders.
In its second-quarter report for 2024, Zida expressed enthusiasm over the success of the DIY Portal, which offers investors a user-friendly platform for submitting registrations and licence applications.
It said that the performance statistics indicate a notable preference for the DIY portal over traditional email submissions.
Zida is a statutory body formed after the enactment of the Zimbabwe Investment Development Agency (Zida) Act, which was signed into law in February 2020.
As a statutory body, Zida’s main mandate is to promote and protect investment in the country.
The portal milestone comes as the country is initiating measures to streamline regulatory procedures, eliminate bureaucratic obstacles and strengthen investor protection mechanisms in pursuit of Vision 2030.
The portal, among other measures, seeks to establish a transparent and predictable regulatory framework that fosters investor confidence and catalyses long-term investment in Zimbabwe.
The portal also confirms that Zimbabwe is open for business and creates a faster and much easier route for an investor in any part of the world to access Zimbabwe’s investment opportunities.
Last year, the agency opened offices in Bulawayo. Zida’s office in Bulawayo is a positive step towards enhancing investment promotion and facilitating the ease of business in the southern region.
The move provides a one-stop shop for investors, offering a range of services, including business registration, licensing and investment advice.
Zida noted that the office plays a vital role in attracting and supporting investment in Masvingo, Midlands, Matabeleland North, Matabeleland South and Bulawayo provinces.
Beyond regional expansion, Zida has fostered partnerships with key stakeholders to streamline investment processes and enhance business efficiency.
Notably, Zida forged strategic collaborations with Nedbank and Ecobank. These agreements promise to play a pivotal role in promoting Zimbabwe’s attractiveness to investors, both domestic and foreign.
Online Reporter