FDI, infrastructure indaba for rural Zim
TRADE and investment advisory firm DEAT Capital is planning to hold a rural investment and infrastructure summit soon to highlight opportunities for foreign direct investment (FDI) in Zimbabwe’s rural areas.
SPEAKING in an interview at the 59th edition of the Zimbabwe International Trade Fair last week Deat Capital managing director Nicky Moyo said that the meeting is scheduled for June 21, this year. The summit, dubbed “Zimbabwe Rural Opportunities Investment and Infrastructure Summit” will be held at Rainbow Towers, in Harare. Over 300 delegates expected to attend the event.
“We will partner the Ministry of Local Government, Public Works and National Housing, Association of Rural District Councils and the Ministry of Lands, Agriculture and Rural Resettlement,” Mr Moyo said.
Deat Capital will solely host the investment and infrastructure summit, which is scheduled to bring together over 70 rural councils.
“Fact is Zimbabwe as a whole cannot rely on foreign direct investment going into urban centres. True economic success will come by including the majority and bringing them into mainstream economy,” Mr Moyo.
The goal of this summit is to bring in Zimbabwe’s rural community into the mainstream economy key focus areas will include social housing, off-grid power, infrastructure development, health and education infrastructure, agricultural infrastructure, special economic zones, mining and sustainable development, natural resources management, community share ownership trusts.
Experts and innovators from a cross-section of industries will discuss the future infrastructure needs of the predominantly agro-based rural Zimbabwe economy.
Infrastructure is inextricably linked to agriculture and rural development. How the Zimbabwe agriculture community plans on feeding a whole population of about 13 million currently and meet Zimbabwe’s middle-income goals by 2030 depends on the efficiency of its infrastructure.
As their population continues to swell, Africa in general and Zimbabwe in particular, will require good infrastructure to support growth in productivity.
Africa is the world’s second largest and second most populous continent. It covers one-fifth of globe’s total land area, and the current population (1,2 billion) is projected to reach 2,6 billion by 2050 (UN forecast).
But as economies grow, infrastructure investments lag behind needs.
To cope with increased demand for goods and services, sizeable funds are required to build and maintain roads, bridges, ports, railways, dams, power grids, including clean energy solutions such as solar panels and social housing and health services.
Harihuko Knoda, former president of the Asian Development Bank said, “Without appropriate infrastructure, countless millions of people will lack access to jobs, markets, hospitals and schools.”
Weak infrastructure costs Africa an estimated two per cent of gross domestic product (GDP) annually, while hindering intra-regional trade and foreign direct investment (FDI).
Good systems, in terms of energy/ transport, foster competition, innovation and productivity.
The Tokwe Mukosi development master plan that is likely to trigger multi-million dollar businesses in the Lowveld if approved has been submitted to Cabinet as Government intensifies efforts to fully exploit areas around the giant water reservoir.