The Zimbabwe Investment and Development Agency (ZIDA) has been urged to encourage investors not only to focus on the primary production phase but also to engage in value addition and beneficiation.
The call for quality investment cannot be overemphasized, especially at a time when numerous licences have been issued to mining investors in the country, despite the energy sector having the highest projected investment value of US$1.8 billion, compared to the mining sector’s US$369 million.
Stakeholders emphasised that the country’s economic growth depends on investors going beyond just extracting raw materials, instead of developing industries that add value to products locally.
In addition, ZIDA was urged to make a follow up on investor-submitted investment plans and ensure compliance with the country’s labour laws and environmental regulations, among other requirements.
This is vital to ensure that investors contribute to Zimbabwe’s broader developmental goals and that mining and other resource-based sectors operate sustainably.
The call to strengthen oversight and promote value addition comes as the Government continues to issue licences to mining companies, even though the energy sector remains the largest area for investment.
By encouraging beneficiation, Zimbabwe aims to create jobs, improve skills, and increase the economic benefits derived from its natural resources.
Stakeholders noted that it is not enough to grant licences without ensuring investors adhere to the commitments they make, including respecting environmental standards and labour conditions.
Strengthened follow-up by ZIDA will help to ensure that investors meet their obligations and contribute meaningfully to the country’s development agenda.
The emphasis on quality investment reflects Zimbabwe’s efforts to transform its economy and move up the value chain, creating sustainable wealth and improving livelihoods.
Meanwhile, as the country works to balance investment between sectors, ensuring compliance and promoting local beneficiation is critical to achieving long-term economic growth and sustainability.
