daniel chigunwe
Africa Moyo recently in ISTANBUL
A number of potential investors who attended the Zimbabwe session during last week’s 4th Türkiye-Africa Business and Economic Forum, said they were surprised to learn of the array of investment opportunities available in the country.
They said this after a short but highly informative video was played by the Zimbabwe delegation to mark the start of the session.
The video succinctly captured the opportunities in the mining, agriculture, infrastructure development, ICT, and tourism sectors, among others.
Potential investors from Türkiye, Nigeria, Togo, Uganda, and others attended the Zimbabwe session.
The largest interest seemed to be in mining and agriculture sectors, with high value minerals such as platinum, gold and diamonds, and mineral of the moment, lithium.
In agriculture, the horticulture sector and agriculture value chain had meaningful inquiries. The work ethic of employees, as vividly depicted in the video, seemed to reassure investors that their funds would be safe if invested.
In his address, Deputy Chief Secretary for policy analysis, coordination and development planning in the Office of the President and Cabinet, Mr Willard Manungo, invited potential investors to take up lucrative opportunities in various sectors of the economy.
Mr Manungo said in infrastructure development, there was scope for investment in the construction and/ modernisation of airports, border posts, roads, and the rail sector.
“We are endowed with natural resources. Zimbabwe has the third largest reserves of platinum in the world (and) it also has the second largest gold reserves per square metre in the world and significant lithium reserves,” he said.
“In Zimbabwe, there is a good climate that is optimum for both agricultural and tourist activities. “Importantly, the country is centrally and strategically located in Southern Africa, making it a perfect hub to set up regional operations.”
Mr Manungo also told the potential investors that once they commit their funds into Zimbabwe, they would get real value given the “excellent human capital base” available.
“Our gems, our people, are our most valuable asset: a young, vibrant, hardworking and peace-loving people.
“Now is the time to take advantage of the demographic dividend,” said Mr Manungo.
Chief director economic cooperation, international trade and diaspora in the Ministry of Foreign Affairs and International Trade, Mrs Rudo Faranisi, said the presence of international airlines such as Air Zimbabwe, Qatar Airways, Ethiopian, RwandAir, Airlink, Kenya Airways, Eurowings Discover, Emirates and Air Tanzania, among others, makes access to Zimbabwe easy for both tourists and investors.
She also informed the delegates that Zimbabwe offers various incentives, which are mostly in the form of tax incentives and rebates, making the country an ideal investment destination.
“The country offers fiscal incentives, rebate of duty on capital equipment, Value Added Tax (VAT) deferment on some capital equipment,” said Mrs Faranisi.
And by the time presentations were completed, the Zimbabwe delegation was swarmed by potential investors and tourists wanting some specifics in terms of tourism and investment.
ZimTrade chief executive officer Mr Allan Majuru, had to cancel his plan to attend the closing ceremony of the business forum that was graced by Türkiye President Recep Tayyip Erdogan and Comoros President, Azali Assoumani, who is also the African Union Chairperson, and other political and business heavies, so that he served people that needed more information.
Mr Majuru may have been a victim of showboating during his presentation, after he lavishly praised the quality of Zimbabwean produced blueberries and beef.
He then pledged to leave his phone number with the organisers of the event so that all tourists and potential investors who visited Zimbabwe on the strength of last week’s presentation, could contact him on arrival so he pays for their first plate of starch served with beef.
On the evidence of enquiries from the engagements that the Zimbabwe delegation led by Foreign Affairs and International Trade Minister, Ambassador Frederick Shava, had with various groups of people, the country’s investment opportunities are much sought after.
Ambassador Shava, who was wearing a scarf similar to President Mnangagwa’s, also attracted attention from many passers-by, with some interrupting his engagements or movement as they wanted an opportunity to speak with him.
And if the initiatives to market local investment opportunities were to be complemented by officials providing services at airports, border posts and Government agencies, Vision 2030 of an empowered upper middle-income economy could be achieved well before 2030.
Online Reporter