More diaspora investment coming
ZIMBABWEANS in the diaspora are ready to channel more investment back home as a tribute to the Government for the affordable and quality educational support they received before going abroad, an official has said.
Diaspora Infrastructure Development Group (DIDG) executive chairman, Mr Donovan Chimhandamba, told the large gathering that included President Mnangagwa and top Government and private sector executives who witnessed delivery of newly acquired equipment for the National Railways of Zimbabwe (NRZ) in Bulawayo last Wednesday that Zimbabweans abroad were enthused by the new political dispensation and were keen to be part of the national development process.
DIDG in partnership with South Africa’s Transnet, have sealed a $400 million recapitalisation deal with the NRZ, whose clause among other provisions in the framework of agreement, guarantees Zimbabwe’s railways company to lease 13 locomotives, 200 wagons and 34 passenger coaches as an interim solution to the resource gaps bedevilling the parastatal.
President Mnangagwa received the first batch of the equipment on behalf of NRZ. The consignment included 150 wagons, seven locomotives and seven passenger coaches. In his address Mr Chimhandamba said through the Government’s education support scheme, thousands of Zimbabweans in the diaspora were able to make a breakthrough and succeed in challenging foreign environments.
“I know today is about NRZ and how this marks a turning point in the programme of rebuilding Zimbabwe’s economy, but as we talk about the momentous project, l have taken this opportunity to share with you and our great country what this means to the diaspora and the future of Zimbabwe. As men and women in the diaspora, we owe a debt to this country, not only for the quality of education we received but also for the affordability of the education. This education gave many of us in the diaspora, a head-start in our careers, a head start where many natives still find it difficult to get even a basic job.”
Mr Chimhandamba said the Zimbabwean diaspora has become a highly proficient pool of people with skills and business networks the country can use at this moment.
“Each of us in the diaspora has many stories to tell about our journeys into diaspora. As diasporans we have faith and abide by the possibilities of this great nation. . . Today we are saying to Zimbabwe, we are bringing the same energy, faith and dedication that we demonstrated in the diaspora. Your Excellency as l stand here today, with great conviction and courage, we say diaspora is ready to help the country build on the promise of 1980,” he said, attracting cheers from the huge crowd.
Mr Chimhandamba said in May 2016, DIDG made a bold decision to participate into Zimbabwe’s biggest economic battle in the history of the modern day generation.
“The battle to recapitalise Zimbabwe starting with NRZ, we realised we couldn’t continue to be consumed by our petty differences anymore and with the guidance of the then Zimbabwe Ambassador to South Africa, Cde Isaac Moyo, we started to work towards an agenda that would see us aggregate towards diaspora investments and skills towards recapitalisation of Zimbabwe. This led to the formation of the DIDG by a group of diasporans belonging to an association called Rollers in Business, which today enjoys a membership of more than 1 500 diasporans and Zimbabweans,” said Mr Chimhandamba.
He said so far they were in the process of forging cooperation with a United States of America-based diaspora group called the North America Diaspora Investment Group, an affiliate member of the Zimbabwe Diaspora Network of North America. DIDG looks forward to investing in Zimbabwe’s economic sectors that include aviation, telecommunications and water.
Speaking at the same occasion, Transnet representative Mr Patrius Fusi said his organisation was focused on integrating South Africa into the region and the rest of the continent.
“Therefore interconnectivity and inter-operability of the railways is long overdue in our continent. The opportunity that we talk about here presents us with unique opportunities to strengthen and to grow localisation to make sure that there is job creation and skills transfer, which are all important for growth in Zimbabwe and South Africa. Partnerships and collaborations are important in terms of creating the necessary traction to move our operations forward and to overcome our business challenges,” he said.