Bulawayo attracts investors

BULAWAYO attracted the interest of five global firms which are focused on infrastructure, information technology and housing development during the 26th edition of the Arab-African investment co-operation conference held in Sharm-el Sheikh, Egypt in October.

Bulawayo Provincial Affairs and Devolution Minister, Judith Ncube led the delegation that comprised Bulawayo City Council officials, representatives from the Ministry of Information, Publicity and Broadcasting Services, Ministry of Public Service, Labour and Social Welfare, Ministry of Information Communication Technology, Postal and Courier Services, Ministry of National Housing and Social Amenities, Ministry of Local Government and Public Works and Ministry of Women Affairs, Small and Medium Enterprises.

Minister Judith Ncube

The conference was held under the auspices of the Egyptian Cabinet and the Arab League, and ran under the theme “Youth: The Core of Sustainable Development — Opportunities and Challenges.”

The objective of the visit to Sharm el-Sheikh, was to promote Bulawayo Metropolitan Province as an investment destination, network with potential investors from Arab and African countries and to learn about the latest investment trends and opportunities in the Arab and African regions.

In an update to the council, the Town Clerk, Mr Christopher Dube highlighted that the trip was successful as it provided a opportunity for the delegation to network with potential investors.

“They were able to meet investors from different countries and learn about their interests. The conference was a great opportunity for the Zimbabwean delegation to showcase Zimbabwe’s investment potential as presentations were made and materials about the country’s investment opportunities distributed at the conference,” said Mr Dube.

He said investment discussions were held with Al-Araby, Al-Anan, OnPassive, CrossTech and El Gondy Trading Home Exports.

Al-Araby is a building and construction company registered in Egypt and it is involved in Real Estate business in Egypt, Rwanda and United Emirates.

In Rwanda, the company is working with the Government in the construction of low cost housing units.

“It was indicated that in Egypt the company is involved in the construction of shopping malls across the country. The Team from Bulawayo Metropolitan Province indicated that there were opportunities in real estate business, for example, in Bulawayo the housing backlog is more than 150 000 units.

“Furthermore, the province is looking for investors who are interested in constructing shopping malls and industrial parks.

“The building company was assured that land could be availed for its projects and the company highlighted that they use private funding to finance their projects,” said Mr Dube.

He said Al-Anan is an engineering and construction company registered in Egypt.

“Their main business is construction and steel fabrication. In the short term the company is prepared to export their products to Bulawayo and work towards setting up a company in Bulawayo. The company was also invited to visit Bulawayo during the Zimbabwe International Trade Fair (ZITF) to showcase their products,” said Mr Dube.

ZITF

Another company that held discussions with the Bulawayo delegation was El Gondy Trading Home Exports.

The firm is a supplier of home appliances.

“The provincial team suggested that an arrangement can be made with SMEs for the supplier to send the parts of the various appliances and electrical gadgets to Zimbabwe. Assembling can be done in Zimbabwe and this will in turn create employment opportunities in Bulawayo,” said Mr Dube.

In addition, Mr Dube said Zimbabweans can be trained in manufacturing the products and the same manufacturing process can be replicated and set up in Bulawayo.

According to the report, Minister Ncube indicated that the Bulawayo presents unique investment opportunities under the Special Economic Zones (SEZ) programme.

“The potential investors were encouraged to consider venturing in the development of an Industrial Park and Inland Port as well as the construction of supporting infrastructure such as power lines, roads, railway tracks and broadband infrastructure within the SEZ.-chronicle