Zimbabwe isn’t dead

LAST Friday, I had the privilege of being invited to the CEO Africa Roundtable’s Business After Hours function hosted by Minerva. It was an amazing evening of knowledge-sharing and networking.

Victoria Ruzvidzo

Editor’s Brief

The CEOs and senior executives in attendance had so much positive energy and were of the same mindset that Zimbabwe is going somewhere.

Minerva Group chief executive Lydia Tanyanyiwa, in her opening remarks, said something  profound.

“Zimbabwe is not dead! Great things are happening in this country and we have the talent and ability to expand into the region,” she said, to much applause from the audience.

Those listening to her speech were nodding in agreement, saying: “Yes, she is right. We have our own problems, but who doesn’t have theirs. We have peace here. We have great weather and big things are happening here.”

Another said:” Of course, Zimbabwe is the deal. This is the only place we call home. We must just navigate through the challenges we have. We are scoring great here and beyond. Things could be better but we can’t mourn forever. We take the step forward.”

Yours truly just marvelled at these sentiments. This was music to her ears.

If corporates are being led by such visionaries, people with such mindsets and positive energy, then we are indeed headed for the stratosphere despite what some quarters want us to believe. The trick is to not just point at challenges but to seek opportunities in the midst of it all and pursue them.

During conversations and presentations that followed, we heard of a number of investors heading Zimbabwe’s way this quarter, some from the United States.

Of course, they know about our economic terrain. They are aware of the positives and challenges here from research, but all the same, they find opportunities here too good to resist.

Those not seeing the good that Zimbabwe’s belly carries may have to borrow the investors’ lenses.

So, indeed, contrary to the narrative in some quarters, Zimbabwe is not a dead nation. It is a country brimming with opportunities and potential for growth. By harnessing its abundant resources, investing in key sectors and supporting local entrepreneurs, Zimbabwe can overcome its challenges and build a prosperous future.

It is time for Zimbabweans to change the narrative, embrace their country’s potential and work together to create a brighter tomorrow.

This country has been attracting a considerable number of investments, in consonance with the Zimbabwe is open for business thrust.

Foreign direct investments into the country have been increasing in recent years as the country continues to be promoted as an investment destination of choice.

During the fourth quarter of last year, Zimbabwe attracted increased numbers of foreign investors who expressed keen interest in investing in the country.

Making up the top five was South Africa (US$1,7 billion), Botswana (US$1,4 billion), the United Arab Emirates (US$703 million), Netherlands (US$234 million) and China (US$165 million).

Chinese investors had 81 licences issued, India (15), Zimbabwe (7), South Africa (7) and Mauritius (6).

The authorities have also been making stringent efforts to create a conducive business environment where their projects are assured of a good return on investment.

According to the Zimbabwe Investment and Development Agency (ZIDA)’s recently released 2023 Quarter Four report, Zimbabwe got considerable investment deals in various sectors, with mining topping the list.

ZIDA registered a US$6,94 billion mining investment deal from Ajako United (Pvt) Ltd for mining, processing and trading of minerals, which the agency is currently reviewing; and a US$1,4 billion deal for mining and processing of gold by Innermost Resources Zimbabwe (Pvt) Ltd.

Once up and running, both deals will significantly contribute to Zimbabwe’s gold production tonnage as the country strives to produce 300 tonnes of the precious metal by 2025.

As stated over the past few weeks when we had a series spotlighting factors working for this economy, one sector with vast potential is tourism.

It is among Zimbabwe’s fastest growing sectors, with arrivals having surged by 42 percent.

Tourism receipts also grew by 24 percent to US$272 million in the period to September last year from US$219 million during the previous quarter.

“The increase in tourist arrivals was attributed to the ongoing recovery in global tourism, improved transportation infrastructure and marketing and promotion initiatives by the players in the tourism industry,” noted the Reserve Bank of Zimbabwe.

Zimbabwe’s natural beauty, wildlife and cultural heritage make it an attractive destination for tourists. The majestic Victoria Falls, the Great Zimbabwe and the diverse wildlife of national parks are just a few examples of the country’s tourism potential.

By continuing to invest in tourism infrastructure, promoting sustainable practices and effectively marketing these attractions, Zimbabwe can develop a thriving tourism industry that would generate foreign exchange, create employment opportunities and improve the country’s international image.

The country’s tourism sector serves to show that truly, Zimbabwe is not dead but rather on the rise.

Zimbabwe has also witnessed an increase in its manufacturing capacity, which has only served to show that indeed the country’s economy is on the up.

In recent years, the country has modernised and expanded its industrial potential, lining itself up to become a force to be reckoned with.

A robust manufacturing sector is crucial for economic growth and diversification, and the advantage is that Zimbabwe has a skilled workforce and a history of industrialisation.

By investing in infrastructure, promoting technological innovation and providing support to local industries, Zimbabwe is reviving its manufacturing sector and this will not only reduce reliance on imports but also create employment opportunities and stimulate economic growth.

On the diplomatic front, Zimbabwe has managed to score major gains in its engagement and re-engagement drive and this success continues to increase its footprint and presence in the comity of nations.

Current massive infrastructure development has seen the construction and rehabilitation of key infrastructure, including the Robert Gabriel Mugabe International Airport, roads, power plants and dams.

All this would not happen in a dead country. There is abundance of life. The more we build and modernise our infrastructure, the more we will develop and grow our economy.

As we always say, Zimbabwe can sustain its life better through unity. Let us be united for the betterment of our lives and those of generations to come.

We owe it to ourselves and those who will come after us.

Denigrating our own country only perpetuates negative perceptions and undermines our collective efforts towards progress. We should focus on constructive criticism and active participation in shaping Zimbabwe’s future.

By promoting unity, embracing patriotism and engaging in nation-building activities, we can create a positive environment that attracts investments, encourages innovation and fosters economic growth.

“Together as a united people, we are the only guarantors of our independence, peace, stability, freedom and development. Let us, therefore, remain patriotic and continue wholeheartedly serving our great motherland, Zimbabwe.

“Through hard honest work, we are realising success and prosperity. Step by step, brick by brick and stone upon stone, the Zimbabwe we all want is becoming a reality.

“As such, let us all reject regionalism, tribalism, self-hate and all forms of violence.

“We have a duty and responsibility to work harder with honesty and integrity to utilise the vast opportunities that are before us. Increased production and productivity across all sectors of the economy remain our collective priority,” said the President recently.

Zimbabwe is indeed not dead but very much alive and kicking.

In God I Trust!

X handle: @VictoriaRuzvid2; Email: [email protected]; [email protected]; WhatsApp number: 0772 129 972.