ZITF’s success affirms open for business mantra

Gibson Mhaka-Zimpapers Politics Hub

THE landmark success of the just ended 65th edition of the Zimbabwe International Trade Fair (ZITF) in Bulawayo, which culminated in business deals valued at up to US$10 million and significant trade agreements from international exhibitors, highlights and validates Zimbabwe’s growing appeal as a competitive investment destination amidst ongoing efforts to reform its economy and re-engage with the global community.

This achievement reflects the potential impact of national strategies such as President Mnangagwa’s “Zimbabwe is Open for Business” initiative, aimed at attracting foreign capital and expertise, alongside the approach of being “a friend to all and an enemy to none” in its international relations, and the “engagement and re-engagement” drive to normalise ties and foster mutually beneficial partnerships.

The strong foreign participation and the value of deals struck signal a potential shift in investor perception, influenced by recent policy adjustments implemented by the Second Republic under the stewardship of President Mnangagwa, and a recognition of Zimbabwe’s inherent economic potential despite existing challenges.

Running under the theme “Industrialisation: Crafting an Integrated Economic Landscape,” this year’s fair solidified its reputation as one of Africa’s premier trade showcases.

This renewed confidence in Zimbabwe’s business environment was clearly indicated by a sharp increase in private sector participation, which rose from 298 companies in 2024 to 368 in 2025. International participation also surged, with exhibitors from 30 countries compared to 21 last year.

Furthermore, the number of direct international exhibitors almost doubled, reaching 67, up from 35 in 2024, and the number of first-time exhibitors rose dramatically, from 71 last year to 89 this year, highlighting the growing global interest in Zimbabwe’s market.

Industry and Commerce Minister Nqobizitha Mangaliso Ndlovu, said early survey results from exhibitors revealed substantial business activity during the five-day event.

“Based on responses that were received from the ongoing survey that we are undertaking through ZITF management, 6,3 percent of the respondents indicate that they clinched deals between US$5 million and US$10 million.

Six percent of the deals were between US$1 million and 18,8 percent of the respondents recorded under US$1 000 deals,” he said.

Minister Ndlovu said around 20 percent of exhibitors signed significant memoranda of understanding (MoUs) and partnership agreements during the fair, with additional details expected as more reports come in.

Among notable highlights, a Zimbabwean company sealed an agro-products import agreement with Belarus, while the ZITF Company finalised a term sheet for a US$12 million investment to develop a new retail shopping centre at the fairgrounds.

“One company has reported that they signed an agreement to import agro products from Belarus, and to cap it all, ZITF Company finalised a term sheet for US$12 million to construct a retail shopping centre,” said Minister Ndlovu.

Minister Ndlovu emphasised that ZITF is increasingly focused on tangible economic outcomes beyond mere exhibitions.

He said the expansion in international and local participation, the setting up of supplementary exhibition space due to high demand, and the vibrant atmosphere of economic engagement all signal a renewed investor confidence.

President Mnangagwa has consistently reassured investors and Zimbabwean citizens that the country remains conducive for business and stands ready to welcome investors through the Zimbabwe Investment Development Agency (ZIDA), which offers seamless processes for registration and conducting business.

He stated that there is an array of fiscal incentives poised to benefit investors who choose to operate in Zimbabwe.

Building on this foundation of renewed investor confidence and the ZITF’s increasing importance as a hub for economic activity, European, British, and French envoys have concurrently affirmed their nations’ commitment to bolstering economic ties with Zimbabwe.

This unified message from key European powers directly reflects the positive investment climate highlighted by Minister Ndlovu and further underscores the growing international interest in Zimbabwe’s economic landscape, transforming the trade fair into a crucial arena for forging international partnerships and driving tangible economic growth.

EU Ambassador to Zimbabwe, Mr Jobst von Kirchmann, reiterated the European bloc’s dedication to increasing foreign direct investment (FDI) in Zimbabwe.

He further highlighted the significant advantage of duty-free access to European markets for products exported by local Zimbabwean companies, signaling a tangible pathway for economic growth through trade.

The increased EU presence at ZITF, where its pavilion featured an expanded “#TeamEurope” presence with contributions from several EU member states including France, Germany, Italy, Sweden, Romania, Netherlands, and Belgium, representing European member states, businesses, and implementing partners highlights a broad, collaborative effort to accompany Zimbabwe towards its ambition of becoming an upper-middle income society by 2030.

Echoing Mr J von Kirchmann’s sentiments, British Ambassador to Zimbabwe, Mr Pete Vowles, emphasised the United Kingdom’s commitment to strengthening its bilateral relations with Zimbabwe, with a particular focus on enhancing trade and investment.

Mr Vowles highlighted the ZITF’s importance as a strategic platform for the British Embassy, providing an invaluable opportunity to showcase collaborative partnerships.

“I think it’s fair to say that ZITF is the highlight of the calendar year for us at the British Embassy. It’s a chance for all of us to showcase our partnerships and our trade and investment co-operation,” stated Amb Vowles.

He further articulated the mutual benefits of increased trade, noting, “For Zimbabwe, it contributes to economic growth, generates foreign exchange and creates jobs. For international companies, it presents opportunities to expand their offerings, share expertise, and also learn and adopt new skills and ideas.”

France is also actively pursuing stronger economic and cultural ties with Zimbabwe. French Ambassador, Paul-Bertrand Barets, during his inaugural visit to the ZITF, conveyed his optimism regarding the significant untapped potential for increased trade between France and Zimbabwe.

Adding to the chorus of international support, China has reaffirmed its commitment to deepening its cooperation with Zimbabwe.

Chinese Ambassador to Zimbabwe, Zhou Ding, pledged to accelerate investments, implement high-level agreements, and deliver tangible benefits to the Zimbabwean people as the two nations commemorate 45 years of diplomatic relations.