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ZIMBABWE Investment and Development Agency (ZIDA) says an estimated US$14,9 billion value of projects was processed in the third quarter against a target of US$11,25 billion through its Business Development.
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 projected value of projects processed through the Business Development by the end of Q3 is estimated at US$14.9 billion after further screening of the projects against a Q3 target of US$11.25 billion,” read the latest quarterly report.
“This quarter the Agency’s research work focused on launching the Investor Sentiment Analysis data collection tools, researching and collating data on the Ease of Doing Business and conducting sector- specific research.
“The sections below highlight the specific research activities conducted during the quarter. The Investor Sentiment Survey, launched in Q2 in collaboration with the International Finance Corporation (IFC), was closed on 10 September 2024. The IFC has commenced the validation and analysis of the responses gathered from the survey’s participants, which will be consolidated into the final Survey report. This process is expected to be completed in Q4.”
The report notes that in Q3 2024, the Agency made significant strides in enhancing its digital transformation, with the DIY Portal emerging as a key milestone of these efforts. The transition to the fully operational DIY Portal, which now handles license applications and monitoring and evaluation submissions, has marked a transformative step in streamlining investor services.
“The portal allows investors to independently manage key processes, from license renewals to submitting project updates, all within a seamless and accessible digital platform. This innovation reduces reliance on manual procedures, significantly speeding up application processing times and improving the overall investor experience,” reads the report.
Moving forward, the investment agency said its focus will remain on refining the DIY Portal, improving its user interface, and automating more critical processes like Special Economic Zones (SEZ) and Public- Private Partnerships (PPP).
“These upgrades will ensure that the Agency continues to offer an efficient, transparent, and investor-friendly digital environment, positioning Zimbabwe as a leading destination for streamlined investments.”
The Investor Database Publication was completed, making vital investor information publicly accessible via the website. The project promotes transparency and fosters investor confidence by offering a clear view of the investment landscape.
“The ZIDA Registry Office also underwent significant improvements with its full automation, a critical part of the agency’s move toward a paperless office environment. This transition from a manual system has improved efficiency and resulted in cost savings exceeding US$45 000.
These savings reflect ZIDA’s commitment to adopting cost-effective solutions using modern technology.”-
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