Staff Reporter
Zimbabwe is on the verge of becoming one of Africa’s most significant economies within the next five to 10 years, thanks to a combination of ongoing economic reforms and increasing international partnerships.
Speaking on the sidelines of the 12th Annual Conference of Speakers of African National and Regional Parliaments, Deputy Minister of Finance, Economic Development, and Investment Promotion, Kuda Mnangagwa, stated that the primary objective of the meeting was to dispel misinformation about Zimbabwe’s economic status. Highlighting the importance of engaging with international business communities to foster trust and transparency.
"We have been behind the narrative for too long. It is critical that we engage with the business community to clear up misconceptions and highlight the various investment opportunities available. Zimbabwe offers investment prospects across multiple sectors, including agriculture, energy, ICT, financial services, and healthcare,” said Minister Mnangagwa.
He further highlighted that, the meeting successfully engaged three groups that is companies already operating in Zimbabwe, prospective investors, and businesses seeking more information about Zimbabwe’s investment climate.
“All three groups felt confident that Zimbabwe is an investment destination of choice. Follow-up meetings in Zimbabwe have been scheduled to further explore opportunities in these sectors,” he stated.
Representative of the Indian business community, in South Africa, Praveer Tripathi emphasized that Zimbabwe’s blend of youthful leadership and experienced ministers is creating a powerful formula for sustainable economic growth.
"Zimbabwe has consistently been an attractive destination for investment. Despite Western-imposed sanctions, India has remained a reliable partner, working closely with both the Zimbabwean Government and private sector.
“We have partnered with Zimbabwe in a number of ways, including opening lines of credit and facilitating other forms of economic cooperation," Tripathi remarked.
One of the key takeaways from the meeting was the dispelling of misconceptions about Zimbabwe, as an investment destination.
Additionally, Tripathi, who first visited Zimbabwe in 2008, expressed confidence that the nation’s economic trajectory is set for substantial growth.
"Going forward, investment from the Indian private sector and government will flow more rapidly into Zimbabwe. The influx of capital is likely to transform the business relationship between the two nations, further cementing India’s role as one of Zimbabwe’s most significant allies.
“The presentation by Vice President, Kembo Mohadi highlighted the reforms that Zimbabwe has implemented, particularly the introduction of a one-stop investment shop designed to streamline and simplify the process for foreign investors,” Tripathi stated.
CEO of JNS Cloud Solutions, expressed his company’s interest in exploring opportunities within Zimbabwe’s ICT sector.
“We have already established a company in Harare and are excited to collaborate with the Government on emerging technologies such as artificial intelligence,” he said.
The meeting was also attended by key stakeholders such as the newly formed Zimbabwe-South Africa Chamber, India-South Africa business group, and the German business community in South Africa.
Zimbabwe’s Ambassador to South Africa, David Hamadziripi and Consul General, Eria Phiri were also present, reinforcing the country’s commitment to building strong international partnerships.
As Zimbabwe continues to implement reforms and attract foreign investment, it is poised to solidify its position as a leading economy in Africa, driving growth and development across the continent.
