‘Act fast on FDI’
LOCAL authorities in Masvingo have been challenged to expedite the processing of investment applications to accelerate socio-economic growth in the province.
The call comes after reports that Mwenezi Rural District has been sitting on a multimillion-dollar proposal by South African investors for over two months.
It is reported that in October last year, a South African investor, Mr Lourensma Botha, toured Manyuchi Dam and identified investment opportunities in cattle ranching and tourism around the water body.
He then tabled an investment proposal to Mwenezi RDC under whose jurisdiction the dam falls, for approval, but nothing has been done to date. A director in the Minister of State for Provincial Affairs (Cde Ezra Chadzamira’s) office, Mr Kudakwashe Machako, said the province had approved a number of foreign direct investment initiatives, but some local authorities were taking long to approve applications and challenged them to take investment seriously.
“We received a number of investment inquiries concerning solar plant projects, mini hydro-electricity and cattle ranching,” he said. “However, it seems some local authorities are not moving with much expected speed in processing investors’ applications.”
Mr Machako said the province was open for business and that investors were free to visit the area to exploit opportunities in mining, fisheries, tourism, and agriculture and wildlife management, in partnership with the local authorities.
“The Office of the Minister of State for provincial affairs supports all initiatives that local authorities put forward to attract investment,” Mr Machako said.
“We, therefore, invite investors to come to our province and partner with the local authorities in mining, tourism, animal conservancy, among other opportunities found in Masvingo province.”