NEW: ‘Infrastructure development to anchor Zim economy’

Online Reporter

GOVERNMENT’S focus on infrastructure development will drive economic growth going forward, a local investment firm has said.

Global Renaissance Investment (GRI) chief executive officer Mr Ngoni Dzirutwe said the rapid infrastructure development being undertaken by the Second Republic across the country will consolidate the country’s position as a continental trade hub.

“President Mnangagwa has already laid a solid foundation in infrastructure development, and it is only a matter of time before the country becomes a regional powerhouse, as it is well placed to be the heartbeat of trade and commerce in the region and beyond,” he said.

In the Mid-term Budget and Economic Review, Finance and Economic Development Minister Professor Mthuli Ncube said Government will continue investing in infrastructure projects in various sectors of the economy.

The Hwange Power Station expansion project, which involves construction of Unit 7 and Unit 8, is now 90 percent complete.

On completion, it will add 600MW to the grid.

During the January to June period this year, more than $26 billion was channelled to road development projects around the country, of which $12,7 billion was for the Harare-Beitbridge highway.

Construction of the Mbudzi Interchange has also gained momentum, with the construction of detour routes completed, while civil works on the structure is underway.

Mr Dzirutwe said investment potential exists in the expansion and modernisation of the existing infrastructure as well as the construction of new infrastructure.

GRI will next week host the seventh edition of the Zimbabwe Infrastructure Summit in Victoria Falls, which is expected to unpack such opportunities to global investors.