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Wednesday, May 29, 2024

India-Africa conclave opens investment opportunities for Zimbabwe

Story by Oleen Ndori, Foreign Editor

THE 18th edition of the India-Africa conclave has ended in New Delhi with assurances of more co-operation between India and Africa for sustainable development.

The curtain came down on this year’s India-Africa conclave where discussions on increased trade and investment opportunities in the fields of energy, agriculture and infrastructure development took centre stage.

This was summed up by Managing Director for India Exim Bank, Ms Harsha Bangari as the financial institution is looking at extending lines of credit to African countries for infrastructure development, agriculture, energy, and healthcare capacity building.

“In the spirit of enhancing trade and development with Africa; the bank is looking into extending lines of credit to African countries, as well as, zero duty and preferential market access to African countries and assist in the diversification of African economies,” she said.

As Zimbabwe targets an upper middle-income society by 2030, Vice President General (Rtd) Dr Constantino Chiwenga said the conclave and country sessions in particular provided a firm foundation for Africa to achieve Agenda 2063.

“Africa offers many opportunities in investment, finance, infrastructure, manufacturing sector and information communication technology sectors. As such, the sessions on India- Africa health partnership, trilateral cooperation among others have been key in addressing the continent’s challenges,” Vice President Chiwenga noted.

“These sessions also provided a firm foundation foe Africa’s achievement of the African Union Agenda 2063, and SADC vision 2050.”

“For the Republic of Zimbabwe, they are in line with our NDS1 2020-2025 which the first 5-year medium term plan aimed at realising the country’s Vision 2030 of achieving a prosperous and empowered upper-middle-income society,” he added.

Vice President Chiwenga and his delegation also met Exim Bank and Ashok Leyland representatives during which they deliberated investments in the energy and transport sectors through private public partnerships or private to private partnerships.

Ashok Leyland Head of Africa, Mr Sachin Dasharath said their company is looking forward to increasing its footprint in Zimbabwe.

Information, Publicity and Broadcasting Services Minister, Senator Monica Mutsvangwa weighed in saying this year’s conference was successful in marketing Brand Zimbabwe.

According to Minister Mutsvangwa, Zimbabwe’s engagements at the conclave presented opportunities not only for the country, but for the entire SADC region as Zimbabwe is open for business.

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