Zimbabwe prioritises ESG in investor partnerships

THE Deputy Chief Secretary to the President and Cabinet for Policy Analysis Willard Manungo says all investors into the country should comply with the Environmental, Social, and Governance principles.

Addressing stakeholders during an engagement forum hosted by the Zimbabwe Investment Development Agency (ZIDA) in Harare this week, Manungo said: “ESG concerns are at the heart of the Government’s interventions and initiatives under the National Development Strategy 1 (NDS 1).

“It is a requirement that we ensure, as we partner with investors, that the obligations arising from the ESG commitments are fully observed.”

NDS 1 is the Government’s five-year economic development policy running between 2021 and 2025 after which the policy will be superseded by NDS 2 between 2026 and 2030, where the country hopes to achieve an upper middle income society.

Under NDS 1, the targeted areas towards Vision 2030 include economic growth and stability — food and nutrition security, governance, human capital development, environmental protection, housing delivery, digital economy, health, infrastructure development, international engagement and re-engagement drive, social protection and devolution.

Manungo said in support of the NDS 1, the Government will consistently enforce ESG policies across all economic sectors.

“We stress to investors the need to observe labour practices and environmental sustainability. There are no exceptions in enforcing these requirements.

“President Mnangagwa has made it clear that while we welcome foreign investors, including those from friendly nations like China, they must operate responsibly, adhering to labour, safety, and environmental concerns requirements.

“This ensures a win-win outcome for both the investors and Zimbabwe, through income generation, export potential, and safe working conditions for workers in line with our labour laws,” he said.-ebsinessweekl