Staff Reporter
Government is set to boost production and create employment through the proposed joint ventures that were revealed yesterday during the 2nd Cabinet Press Briefing.
Acting Minister of Information, Publicity and Broadcasting Services, Dr Jorum Gumbo announced that Cabinet had approved four Investment Projects under the proposed Joint Venture (JV).
The proposed JVs are, TelOne, Flashcord and National Venture Capital Company of Zimbabwe to form the Zimbabwe Innovation Technology Company; ZMDC and Chandiwana Mines (Pvt) Ltd; ZMDC and Govine Enterprises and Samao Holdings (Pvt) Ltd and Mazoe Rural District Council
Elaborating more on the JVs, Minister Gumbo said, “TelOne, Flashcord and the National Venture Company will form the Zimbabwe Innovation and Technology Company (Pvt) Ltd (ZITCO), which is expected to create employment of up to 2000 jobs, produce up to 5000 gadgets by year end and export to countries in the SADC region, Zambia, Botswana, Malawi, Namibia and Mozambique. The exports are estimated to generate US$25million in the first 3years (2022-24).”
“ZMDC and Chandiwana Mines are expected to resuscitate Sabi Gold Mine in Zvishavane, the project will initially create 650 jobs for locals and this umber will subsequently benefit 800 employees at full production. A sustained production at Sabi Gold Mine is expected to contribute to the US$12billion Mining Industry by 2023, a milestone set by the Second Republic”, said Minister Gumbo.
The Minister further explained on the other two joint ventures whose contributions will have a significant impact to the US$12 billion Mining Industry.
“The JV between ZMDC and Govine Enterprises on the resuscitation of underground operations and dump treatment at Shamrock Copper Mine is expected to produce 34 000 metric tonnes of copper per year and generate US$45 million annually, while the engagement of Samao Holdings (Pvt) Ltd by Mazoe Rural District Council in the mining of Limestone will generate US$170 million over 10 years. Both JVs will create a total of 1 400 jobs, 400 and 1000 respectively,” said Minister Gumbo.
Meanwhile, the country will benefit from the strengthening of local industries through engagement of local skilled personnel and use of local materials, enhancement of socio-economic environments, construction of amenities and facilities such as schools, clinics to benefit the immediate communities and provision of a wide range of product for use by agricultural and construction industries thereby contributing to economic growth.
