shloboe boe
Judith Phiri, Business Reporter
THE successful implementation of the online Zimbabwe Investment Development Agency (Zida) Do it Yourself (DIY) licensing portal has been viewed as a key development to more investment licences.
Since its launch in February last year, the portal has facilitated 98,1 percent of all applications, demonstrating strong investor adoption of the efficient and streamlined submission method.
According to the Zida 2024 quarterly report, 200 new investment licences were issued during the fourth quarter of 2024, reflecting a 19,04 percent increase compared to the previous quarter, while the he growth was attributed to an improvement in the licensing process.
When the initiative was launched, Zida board chairman, Mr Busisa Moyo stated that the portal represents a pivotal shift towards modernisation and efficiency, positioning Zimbabwe as a competitive player on the global investment landscape.
“In recent years, Zimbabwe has witnessed a steady increase in foreign direct investment and domestic direct investment — a large number of them passing through Zida — as has been on the agency’s recent quarterly performance reports,” he said.
“These investments span various sectors, including agriculture, mining, tourism, and manufacturing, highlighting our country’s diverse opportunities. However, we recognise that untapped potential is still waiting to be unlocked.”
He said the DIY portal was a significant step towards realising this potential by creating a faster and much easier route for an investor in any part of the world to access Zimbabwe’s investment opportunities.
In an interview, Dr Shynet Chivasa, an institutional business analyst at Lupane State University, said the DIY investment application portal offers significant advantages for individual investors.
“They provide autonomy and lower costs, allowing users to manage their portfolios without the high fees associated with traditional advisory services.
“These platforms enhance transparency by displaying all necessary information in one place, empowering users to make informed decisions based on their financial goals,” she said.
“Additionally, the accessibility of educational resources and market data helps investors learn and adapt their strategies over time, fostering a proactive investment approach. Overall, DIY portals democratise investing, making it more accessible and personalised.”
She said the Zida DIY portal was aiding to streamline communication with licensing agencies, provide real-time status updates and improving transparency, leading to faster processing times.
Dr Chivasa said the platform will go a long way in attracting investors also it had already eliminated middlemen, reducing costs for applicants and promoting a more straightforward business setup.
“Overall, such systems modernise public services and cater to the growing demand for digital solutions.
This in turn also reduces the waiting times and delays. Real-time processing should result in improved efficiency and the number of new licences issued. This is critical as it helps the country on its journey to be a middle-income economy by 2030,” she added.
Economic commentator and businessman, Mr Morris Mpala, asserted that the Zida DIY portal gives ease of doing business, transparency, efficient and effective access to information and e-commerce inclination.
“This saves on time, physical enquiries/interactions, and unnecessary paperwork and is a plus for attracting investments both local and foreign in capital. Capital flows stay where there is the ease of doing business and the environment is conducive otherwise there is no investment or there will be disinvestment,” he said.
Zida chief executive officer, Mr Tafadzwa Chinamo is on record stating that their vision to fully digitalise their operations was realised in the fourth quarter.
He said the DIY licensing portal has reduced the average processing time to less than five days on average.
Bongani Ndlovu
Online Reporter