ZIDA opens branch in Byo

The Zimbabwe Investment Development Authority (ZIDA) has opened a branch in Bulawayo which will cater for the southern region of the country as part of government policy to decentralise services.

The new ZIDA branch will cover the provinces of Bulawayo Metropolitan, Matabeleland North, Matabeleland South and Midlands.

Officially opening the branch, Finance and Economic Development and Investment Promotion Minister Mthuli Ncube said the move is part of government`s devolution strategy pursued in the last three years.

“Decentralisation of such operations by agencies such as ZIDA is part of the (devolution) process, which plays a role in addressing the ease of doing business for local and foreign investors in the country,” he said.

“Our vision as government is to see more of these offices being opened in strategic locations across the country, to augment what is already available and this should ultimately improve the overall experience of business establishment and operation for all investors,” he said.

Mthuli said the new ZIDA branch will play a key role in attracting investment to the southern region of the country.

“With the facilitation from the Treasury, all ZIDA offices have been further capacitated through the installation of a Customer Relationship Management system, which has allowed ZIDA to create a digital portal that will go live in a few weeks. This portal will enable investors to carry out all their applications online, from wherever they are in the world,” he said.

Mthuli said the branch will be a one-stop shop for investors, offering a range of services, including business registration, licensing, and investment advice.

Over the last four years, he said, government has undertaken deep reforms and initiatives to promote and facilitate investment in the country, including the southern region.

“This is seen in improvements made to ensure accessibility and visibility of the Region and the country. This was demonstrated by the refurbishment and upgrade of the Beitbridge border post, he said.

“We are a landlocked country but we have not taken a back seat in ensuring that we stay in the race to attract Foreign Direct Investment, which is in demand globally as countries compete for the cake which is growing smaller and smaller due to a large number of global dynamics,” Mthuli said.

He said the southern region had attracted US$1,186 billion in investment, mainly in the power generation and mining sectors.

“This is visible, as one of the continent’s largest iron and steel plants, located in Manhize in the Midlands province and driven by the Dinson Iron and Steel Company, has invested US $750 million in the development of this plant,” he said.

Additionally, he said, the same investor, Dinson Colliery, had invested close to US $75 million in its Hwange coking coal plant.

“The region is also home to the Gwanda Lithium project (which) has an estimated investment value of US$30 million,” he said.
Mthuli said the investments were a clear indication of the vote of confidence of investors, in the country.

He encouraged potential investors to visit ZIDA offices to learn more about investment opportunities available in the country.

“I believe that foreign direct investment is essential for Zimbabwe to achieve its economic development goals and the creation of ZIDA by the Government has made it easier to drive this agenda,” he said. – New Ziana