Business community urged to seize investment opportunities
THE business community in Bulawayo has been urged to capitalise on recent developments where investors have shown interest in the city and to forge partnerships and collaborations to enhance the city’s potential and growth. This comes at a time when the city is experiencing an increase in the number of potential investors visiting and meeting with city officials and businesses to scout for investment opportunities and potential partnerships.
Recently, the city hosted a group of business representatives from the International Municipality Forum of BRICS (IMBRICS) countries. Additionally, on Sunday last week, a four-member business delegation from the Czech Republic arrived in Bulawayo on a mission to explore investment opportunities in the city and the southern region. The delegation has a particular interest in innovative projects related to the fuel and energy sector, where it aims to enhance efficiency through the adoption of a modern additive while significantly reducing carbon emissions.
Responding to questions from the Business Chronicle, former Zimbabwe National Chamber of Commerce (ZNCC) Matabeleland chapter vice president Mr Louis Herbst, who is also a businessman in Bulawayo, said that to capitalise on this moment, business people must embrace a multifaceted approach that goes beyond merely attracting new investments. He stated that one of the most impactful strategies is to forge partnerships with both established and emerging companies in the region. By collaborating with local businesses, they can expedite the rehabilitation of industries, creating a stronger and more resilient economic landscape.
“Exciting times are ahead for Bulawayo! Recently, we have welcomed a wave of interest from international delegates eager to explore investment opportunities in our dynamic city. As a member of ZNCC and an active businessman, we have noticed that this surge in attention is not just a chance for economic growth; it’s a call to action for all of us—local business leaders and foreign investors alike—to come together and shape the future of our economy,” said Mr Herbst.
He suggested that investors should consider the potential of retooling and expanding existing sectors. Many local enterprises have solid foundations and dedicated teams, yet they need additional resources and support to elevate their operations. By investing in these companies, foreign partners can tap into an existing network while playing a pivotal role in revitalising the local economy.
“To further facilitate this process, establishing an industry-specific investment portfolio through the Ministry of Industry and Commerce, along with partners like ZimTrade, is crucial. This portfolio should have a robust online presence where companies seeking investment can upload their prospectuses. By creating a centralised portal, potential investors can easily access information about available projects in the Matabeleland market, assessing their viability and potential for success,” he said.
According to Mr Herbst, to create an attractive investment climate, there is a need to revitalise infrastructure, streamline regulations, empower the workforce and showcase success stories.
“The growing interest from global investors is not just a trend; it’s a remarkable opportunity for transformation. By prioritising collaboration, innovation and a focus on existing industries, we can create a thriving economic ecosystem that benefits everyone involved.
“Now is the time for Bulawayo to shine. Let’s seize this moment together, transforming our city into a beacon of growth and opportunity. For local business leaders, this is a chance to elevate your enterprises; for investors, a unique opportunity to be part of a vibrant and promising market. Together, we can build a prosperous future for Bulawayo in line with President Mnangagwa’s Vision 2030,” said Mr Herbst
Meanwhile, the Bulawayo City Council has revealed that it has been receiving expressions of interest to invest in the energy sector in the city under public-private partnerships (PPPs), with some having been approved by the Zimbabwe Investment Development Agency (Zida). Bulawayo City Council business development officer, Mr Kholisani Moyo, said the city has a business flow chart that they follow to ensure all approval processes are adhered to.
“The city has been receiving expressions of interest in various areas, particularly in energy and waste-to-energy projects in the form of PPPs,” said Mr Moyo. “As a city, we have submitted the projects to Zida for clearance and have since received a positive response on some. We hope to get clearance for all other projects that were submitted. Those that have been cleared are now at various stages of final approval.” — chronicle
