ZIMBABWEAN business entity Torwa Development Agency (TDA) is upping the ante in its drive to seek funding and investment for recapitalisation and remodelling of projects for State-owned enterprises under the Mutapa Investment Fund.
In an interview with NewsDay soon after returning from a visit to China where he met and held discussions with various top Chinese business executives in the Asian country, Nehemiah Chipato, chief executive officer at TDA, said their aim was to align, craft and adopt working relations targeted at fostering economic growth and development in Zimbabwe.
“TDA is an independent private sector investment wheel whose objectives include aligning, crafting and adopting working relations aimed at fostering economic growth and development in line with the achievement of an upper-middle-income economy by 2030. TDA also desires to assist Mutapa Investment Fund (MIF) in seeking funding and investment for the implementation of State-owned enterprises project re-capitalisation and remodelling.
“TDA is an investment wheel that ensures capital motivation, investor buy-in and operational stability for MIF-portfolio companies, particularly in mining, energy, trading, agriculture, real estate, financial services and infrastructure,” said Chipato.
In pursuance of this, TDA has partnered Chinese firm, Hangzhou Xiaoshan International Visa Service Company Limited and the two have finalised a service level agreement to facilitate an investor-ready consortium of about 200 Chinese investors, an initiative which was undertaken in collaboration with the Industry and Commerce ministry.
One of the primary aims was to secure major investment signings at the just-ended Zimbabwe International Trade Fair, where a Hangzhou delegation was at the TDA pavilion for an introductory engagement during the multi-sectoral Bulawayo event.
TDA was a part of the Zimbabwe delegation that visited Zhangzhou from April 7 to 10 this year.
Hangzhou, which represents a consortium of 200 top Chinese firms, serves as a strategic bridge connecting Chinese enterprises with international markets, specialising in facilitating cross-border business partnerships, investment opportunities and economic co-operation.
Besides visa processing coordination for Chinese people wishing to visit Zimbabwe for tourism business inspection and investment purposes, Hangzhou seeks the establishment of a commercial representative office that will serve as Zimbabwe’s official business window in Zhejiang province, China.
The office will offer the following services: market research, business development, networking — building relationships with local businesses, government agencies and various stakeholders, promoting Zimbabwean products and services in Zhejiang and assisting Chinese businesses and investors with inquiries as well as regulatory compliance.
MIF is expected to partner TDA, which will operate as its investment facilitation and advisory arm to drive public-private models, attract foreign investment and restructure SOEs to support Zimbabwe's Vision 2030. This strategic alignment seeks to boost economic growth by managing national assets and leveraging public-private partnerships for infrastructure development.
TDA will function as a specialised “investment wheel” to drive capital, project development and global engagements on behalf of the sovereign wealth fund.
Zimbabwe and China have enjoyed a mutual relationship from the time of the liberation struggle.
According to ZimTrade, Chinese exports amounting to US$1,71 billion in 2023, up from US$835 million in 2014, make the Asian giant Zimbabwe’s third-largest export market. Imports by the Asian giant amounted to US$1,4 billion in 2023 up from US$403 million in 2014 — a 248% increase.
In 2025, China-Africa trade reached a record US$348 billion, as Chinese exports to Africa rose to US$225 billion while African exports to China reached US$123 billion, testament of a relationship of an enormous scale.
However, what is more incentivising is China’s announcement that effective May 1, 2026, the Asian giant will implement zero-tariff policy for imports from the 53 African countries it has diplomatic relations with, a decision that represents a significant opening.