According to ZIDA's latest report, the nation saw a projected investment value reaching US$2.383 billion in 2023, with a notable contribution from Mashonaland West Province.
ZIDA’s CEO, Tafadzwa Chinamo, has credited the agency's organizational excellence, which includes a combination of facilitation, advocacy, and promotional support, for these record-breaking achievements.
"Our proactive approach and commitment to innovation have significantly propelled our national economic objectives," Chinamo remarked.
He highlighted the success in drawing substantial domestic investments, totalling US$393 million, which represented 80 percent of the agency’s target.
"The strategic campaigns and events we have orchestrated were crucial in bridging the gap between local and foreign investors, thereby enhancing domestic investment inflows," he added.
The growth in Foreign Direct Investment (FDI) was particularly striking, with a projected total of US$9.669 billion.
This influx was led by China, contributing US$3.9 billion through 369 investors, followed by South Africa, and other notable contributors such as India and the United Kingdom.
“This demonstrates a strong global confidence in Zimbabwe's market potential and economic stability,” stated Chinamo.
Central to ZIDA’s success has been its streamlined investor services provided through the One Stop Investment Service Centre (OSISC).
This facility has played a crucial role in enhancing the investment process, backed by rigorous due diligence and enhanced monitoring and evaluation.
These measures have ensured a robust investment environment, fostering significant investor confidence.
Chinamo added that with a strategic focus on sectors like energy and mining, Zimbabwe is addressing its power deficit, projected to grow by 2,300 MW by 2025.
“Our nation is well-positioned to capitalize on extensive green energy opportunities, including solar, wind, and hydropower production,” Chinamo explained.
The report also sheds light on investment distribution across provinces.
While Harare Province attracted the highest number of investors, it was Mashonaland West that led in terms of projected investment value.
Other provinces such as Masvingo and Manicaland also showed promising investment figures, indicating a widespread potential across the country.
Meanwhile, despite some challenges, such as the election period causing hesitancy among investors and falling short of the US$2 billion target for reinvestment by about 40 percent, the overall investment climate in Zimbabwe remains dynamic and optimistic.
