SEZs attract US$900m investment applications

THE country has received about US$900 million worth of investment proposals that are at different stages of implementation under the Special Economic Zones (SEZs) cluster.

Zimbabwe Special Economic Zones Authority (ZIMSEZA) operations officer, Mr Nyasha Mukwita, said this at a recent provincial development committee meeting in Masvingo.

“We have more than US$900 million worth of investment application receipts that we have accounted for as ZIMSEZA so far, and the projects are at different stages of progress,” he said.

“We have accepted applications for Goromonzi where there is a lithium mine and we receipted an application fee of US$268 million. The project is currently under exploration stage and they have finished a feasibility study. We also have Afresia, which will invest more than US$270 million and expect an income of US$10 million in two years.”

There is another SEZ in Manicaland where over US$200 million investment will be made.

“We also have other projects under SEZ that are at different stages of implementation where we have receipted more than US$5 million. In total, we have at least US$900 million worth of projects,” he said.

Mr Mukwita said the authority has identified a 120-hectare piece of land in Victoria Falls where they plan to establish a tourism hub as well as an Information Communication and Technology hub.

He said another piece of land measuring 1 090 hectares has been identified in Harare’s Ruwa area.

“For the engineering hub we have Imvumila in Bulawayo where we have 186 hectares of land while within the same city we have a 3 000 hectares in the Belmont area,” he said.

“In Manicaland we have Fernhill with 90 hectares piece of land and it is reserved for diamond beneficiation while Beitbridge has 106 hectares and another one with 248 hectares, where a logistics hub will be established.”

Mr Mukwita said all transactions under ZIMSEZA are quoted in United States dollars as the aim was to attract foreign direct investment to boost the country’s foreign currency reserves.

He made reference to Tugwi-Mukosi Dam in Masvingo as a potential SEZ.

The mega-dam, with 1,8 cubic billion capacity of water storage, is set to stimulate the creation of a greenbelt in the province with lucrative investment potential.

SEZs are one of the key pillars embraced by Government as part of the country’s re-industrialisation drive.