Zivanai Dhewa

…for sustained transformation

President Emmerson Mnangagwa yesterday applauded Government for signing the Petroleum Exploration and Development Production Agreement with Geo-Associates (Pvt) Ltd for oil and gas exploration in Muzarabani, Mashonaland Central.

Speaking on the official opening of the Chamber of Mines of Zimbabwe Annual Mining Conference, in Victoria Falls, which is running under the theme, ‘Navigating Turbulent Times – Sustaining Growth of the Mining Industry Beyond Covid19’, President Mnangagwa said, “The signing of that agreement is a massive leap towards tapping into the oil and gas industry, which is a new frontier in the country’s mining history.

The President further indicated how the exploration will benefit down-stream industries for the benefit and sustainability of other businesses and social amenities.

“This presents huge, unique and competitive investment opportunities.  These include production of liquid fuels as well as various downstream linkages such as electricity generation, production of liquid petroleum gas (LPG), fertilisers and use in the petro-chemical industry.

“It is my expectation that these investments will benefit local communities through creation of jobs, provision of educational and social amenities, infrastructure development and other initiatives.  These should ultimately have multiplier investment effects that trigger sustainable value chain linkages,” added the President.

Meanwhile, engagement and re-engagement initiatives have been credited for the milestones made toward investment in the country.  The President’s Vision 2030 of an Upper Middle Income Society is possible.