Online Reporter
Mukudzei Chingwere in NEW DELHI, India
ZIMBABWE’s rapid economic growth as espoused by President Mnangagwa will be anchored on value creation, joint ventures, partnerships, shared growth and not extraction, Vice President Dr Constantino Chiwenga has said.
Vice President Chiwenga said this when he addressed the 20th India-Africa Business Conclave here yesterday.
The world’s fourth largest economy, India, is using the Conclave to scout for opportunities on the African continent where it has investments running into billions of dollars.
The Vice President underscored the centrality of investments that come with value creation and sustainability.
His sentiments come in the wake of some corporates, across the world and in Africa in particular, having reneged on the tenets of sustainability and environmental preservation.
“Zimbabwe is open for business – not for extraction, but for value creation, joint ventures, partnerships and shared growth,” said VP Chiwenga.
“As we engage at this Conclave, let us remember that the strongest partnerships are not built on what one party can take from the other, but on what both can create together, for the mutual economic benefit of its citizenry”.
He said Zimbabwe and Africa are ready and together with India, can write the next great chapter of South-South co-operation, demonstrating to the world that partnerships among developing nations can drive innovation, build industries and create a more equitable global economy.
“Africa and India share a relationship that goes beyond commerce.
“It is a partnership anchored in shared values – sovereignty, self-determination and mutual respect – values forged during our respective struggles for independence,” said VP Chiwenga.
“Today, these values guide us as we craft a future of shared prosperity, especially as we celebrate the 20th year of this unique and most distinguished business gathering.
“We meet here again, not as former colonies seeking assistance and handouts, but as equal partners committed to building pathways of opportunity, progress and prosperity for our peoples”.
Africa, he said, offers the world more than just resources.
“We bring markets, talent and innovation. Our continent is home to the fastest-growing population and some of the youngest, most dynamic minds in the world,” said VP Chiwenga.
India’s Minister of State for External Affairs, Shiri Kirti Vardhan Singh, said their relationship with African countries should be anchored on shared prosperity.
He said India has extended concessional loans worth over US$12 billion and US$700 million in grant assistance for projects across Africa.
In addition, they had offered 50 000 scholarships to African youths with more than 42 000 having been taken up.
Aside from the Conclave yesterday, Vice President Chiwenga held engagements with potential investors.
