Untapped opportunities to come under spotlight…Matebeleland North investment conference on cards

INVESTMENT opportunities that are largely untapped in Matabeleland North are set to come under the spotlight in October as the Zimbabwe Consulate in South Africa is planning to host a diaspora investment conference that seeks to lure investors to the region and unlock its potential.

The province is home to the Victoria Falls, Hwange National Park and vast natural resources such as coal-bed methane gas, coal, coking coal, lithium, gold and diamonds.

The province surprisingly is ranked among the least developed in the country in terms of major infrastructure and the general standard of living.

Only Hwange and Victoria Falls have standard urban infrastructure while other districts are largely rural.

However, the province is poised for robust development following massive investment in coal mining, power generation, housing and tourism sectors.

There is a growing realisation that product diversification, particularly for export-oriented products, will help the province to grow its economy and improve livelihoods.

For example, the province boasts a large hardwood forest area that could make it a hub for exotic and high-end furniture if manufacturers are capacitated and assisted to form organised groups.

In addition, the large deposits of unsurpassed clay in areas such as Lupane and Hwange can contribute towards a strong regional ceramic industry that can tap into a strong culture and tradition to produce unique products for a niche market.

In July, President Mnangagwa commissioned a massive Muchesu Coking Coal Project in Binga which is being undertaken by a British investor, Contango Holdings.

Muchesu Coal mine is a strategic coal asset in Southern Africa with over 2.6 billion tonnes of coking and thermal coal.

It covers 19 236 hectares of the highly prospective Karroo mid-Zambezi coal basin, located in the established Hwange-Binga mining area in north-western Zimbabwe.

Coal is an integral element of the Government’s target to grow mining earnings into a US$12 billion industry by end of 2023, which will lay a strong foundation for Zimbabwe’s broad vision to transform into an upper middle-income economy by 2030.

The Second Republic led by President Mnangagwa is pushing hard for the implementation of its devolution policy which promotes the exploitation of local resources to develop the provinces.

Each of the country’s 10 provinces has been tasked to identify resources and opportunities in their areas and come up with strategies on how these could be harnessed for the broader good of the economy.

To unveil an array of opportunities in the province, the Zimbabwean consulate in South Africa is set to host a two-day conference scheduled for 26 to 27 at Lupane State University.

The conference will be held under the theme “Matabeleland North Province, a haven of untapped investment opportunities”.

“The objective of the Conference is to unveil investment opportunities to the Zimbabwean Diaspora as a special citizenry crucial to the development of the country in line with His Excellency the President, Dr ED Mnangagwa’s philosophy “Nyika inovakwa neVene Vayo” “Ilizwe Lakhiwa Ngabanikazi Balo”.

“Investment opportunities in the Province’s Districts namely: Umguza, Bubi, Lupane, Hwange, Kusile, Tsholotsho and Victoria Falls, which span across various economic sectors comprising of mining, agriculture, tourism, infrastructure, energy, among others will be showcased at the Conference,” the consulate said.

The Zimbabwean Diaspora and potential investors in South Africa are expected to participate at the aforementioned Investment Conference.
During the conference, each district is expected to outline investment opportunities available.

-chronicle