Story by Yolanda Moyo
Zimbabwe is showcasing its investor-friendly climate at the Arab-African Investment and International Cooperation Summit, highlighting the vast potential for collaboration and investment in the country.
The summit, organised by the Arab Women Investors Union, ends this Friday in Aswan, Egypt.
It provides a platform for Arab and African nations to engage in business-to-business, business-to-government, and business-to-investor meetings, fostering beneficial cooperation, including investment and trade partnerships.
Bulawayo and Matabeleland South Ministers of State for Provincial Affairs and Devolution, Honourable Judith Ncube and Honourable Evelyn Ndlovu who are leading the Zimbabwean delegation, highlighted the numerous opportunities available to Arab investors across various sectors.
“Bulawayo has identified solar power as a viable, cost effective alternative for the long term sustainability of our industries. With abundant sunlight throughout the year, we are in a prime position to harness solar energy to power our factories, warehouses and commercial spaces. This therefore mitigates the risk posed by power disruptions and also aligns perfectly with our ambition to transform Bulawayo into a Smart City by 2025.
“In this regard, the integration of solar power in the province poses as an investment opportunity in solar infrastructure. The Government of Zimbabwe has established measures to protect and encourage local and foreign investments, highlighted by the Zimbabwe Investment and Development Agency Act of 2020, which promotes and facilitates investment through a One Stop Investment Services Centre. In line with President E.D. Mnangagwa’s “Zimbabwe is open for business” mantra, there is a strong emphasis on transforming Bulawayo into a women and youth-led economic zone. The government actively invites women and youths to invest in Bulawayo, fostering sustainable development and economic growth,” said Honourable Ncube.
“Matabeleland South has vast deposits of gold, lithium, limestone, diamonds, platinum, nickel, copper and coal hence presenting investment opportunities in mining and processing these valuable minerals. Lithium concentrate can be processed to create lithium batteries and Limestone production complements cement production, which is essential for infrastructure development. Matabeleland South Province offers a comprehensive package of incentives and support to attract and retain investors.
“Businesses can benefit from reduced corporate tax rates, making it more cost-effective to operate in the province. Exemptions on import duties for capital equipment and raw materials help reduce initial investment costs. The government offers grants to support specific projects, particularly those that contribute to economic development and job creation. Subsidies are available for sectors such as agriculture and renewable energy, helping to lower operational costs and encourage sustainable practices,” explained Honourable Ndlovu.
By promoting its investor-friendly climate and showcasing the country’s vast potential, Zimbabwe aims to attract significant foreign investment, create jobs and drive sustainable economic growth in line with Vision 2030.
