Private sector increases economic participation

By Davison Vandira

The country continues to witness increased private sector participation in economic development, with the latest being a 20 million United States Dollar mining and agricultural equipment deal set to boost productivity.

The Lovol International Company mining and agricultural equipment deal brokered by Affirmative Action Group (AAG) is in line with the key objectives of the National Development Strategy One of increasing productivity for enhanced economic growth.

The assortment of machinery, including green technology is tailored to cater for small, medium and large-scale operations.

 Zimbabwe presents unlimited opportunities in agriculture and mining sectors, hence the right technology in equipment will be key in realising the full potential of these productive industries.

“Zimbabwe is a rich nation in terms of resources and the land which are key factors of production and as a company we are coming to bridge the technological gap in equipment for the country to benefit from its resources,” said Lovol International Company CEO Patrick Masocha.

The deal broker AAG has pledged to ensure due diligence is exercised for deserving citizens to access the machinery.

AAG Vice President Honourable Munyaradzi Kashambe said his organisation will be firm and solid in selecting the right beneficiaries of the equipment “as we want those deserving to be prioritised.”

Economists believe such technological transfers from developed jurisdictions will be key to propelling the country to an upper middle-income economy by 2030.