HARARE, Aug. 5 (NewsDay Live) – The Zimbabwe Investment and Development Agency (Zida) approved investment projects worth about US$1.59 billion in the second quarter of the year, with mining attracting nearly half of the total projected value.
Speaking during a media briefing, Zida chief executive officer Tafadzwa Chinamo said the agency issued 284 new investment licences during the quarter, representing projected investments of approximately US$1.59 billion.
Mining remained the biggest investment destination, securing 86 licences worth US$768.5 million, followed by manufacturing, which received 43 licences valued at US$496.7 million.
“Mining remained the leading investment sector, accounting for 86 licences valued at US$768.5 million, followed by manufacturing with 43 licences worth US$496.7 million. Together, mining and manufacturing accounted for almost 80% of the projected investment value approved during the quarter,” Chinamo said.
He said Zida was shifting its focus from processing investment applications to ensuring approved projects are implemented and deliver economic benefits.
During the quarter, the agency generated 38 qualified investment leads, facilitated 15 tripartite investment meetings, secured eight investor commitments, held nine project meetings and recorded investment commitments worth about US$417.8 million.
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“We are affirming the strategic importance of Zimbabwe’s industrialisation, beneficiation, export growth and employment creation,” Chinamo said.
“These results demonstrate our deliberate transition from measuring commercial activity towards measuring investment outcomes and venture deployment.”
Chinamo said Zida was also advancing public-private partnership (PPP) projects expected to boost exports, digital services, skills development and high-value job creation. He cited the Joina City project and the Sunny Yi Feng Industrial Partnership Development Zone as key investments expected to support industrialisation and economic growth.
Looking ahead, he said the agency would prioritise attracting high-quality investments into productive sectors while strengthening project implementation and investment realisation.
Plans for the second half of the year include expanding investor aftercare programmes, promoting special economic zones, advancing PPP projects, developing bankable investment opportunities, strengthening collaboration with government and the private sector, and enhancing Zimbabwe’s visibility as a competitive investment destination.
“As we enter the second half of the year, the agency will continue to focus on attracting high-quality investment into the productive sectors, strengthening project implementation and investment realisation,” Chinamo said.
He said Zida remained committed to providing timely and credible investment information to strengthen investor confidence, adding that the success of investment promotion should be measured by the economic value created rather than the number of licences issued.
“The success of investment promotion is therefore measured not simply by the number of investment licences issued, but by the lasting economic value created for Zimbabwe,” he said.