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Business Reporter

The Government should continue to implement policies that encourage the development of information and communication development (ICT) infrastructure to drive the country’s digital economy, a leading investment firm has said.

Zimbabwe is also banking on a digital economy to achieve its 2030 vision of becoming an upper middle-income economy, and the Government is pushing all sectors of the economy to embrace the benefits of the Fourth Industrial Revolution. Global Renaissance Investments (GRI) chief executive officer Mr Ngoni Dzirutwe said Zimbabwe is well positioned to reap significant dividends from a digital economy.

“There’s an opportunity for Zimbabwe to cultivate its own global digital champions by leveraging its key assets such as ubiquitous connectivity, solid ICT infrastructure, a tech-savvy population, fostering robust ICT ecosystems and strong Government support.

“However, to achieve the desired results, strategic action is required to encourage and support a strong digital foundation, which is key to the realisation of the Government’s vision for smart government, agriculture, health, trade, commerce, education, transport, and cities,” he said.

Mr Dzirutwe added that the Government should prioritise the telecommunication sector, where infrastructure development is critical for all industries, including financial services, agro-industrial, mining, manufacturing, logistics, energy, knowledge-based economy, media and entertainment among others.

“The correct incentives must be placed so that enough resources are available for the improvement of the networks, reviewing taxation on the sector and making sufficient radio spectrum available to the operators,” he said.

Zimbabwe, through Econet Wireless, is currently rolling out 5G across the country, heralding a digital-led future for the southern African country.

5G is a fundamental technology to enable the next generation of digital services and help establish the country as a knowledge-based economy. The next-generation technology will accelerate the ICT sector in the country, already one of the fastest-growing sectors of Zimbabwe’s economy.

Besides enabling operators’ business growth, 5G is also an enabler of numerous verticals, industries, businesses and public services. Most importantly, the high-speed technology will enable completely new applications only accessible with advanced technologies, such as lag-free ultra-HD video over wireless, truly smart cities, autonomous mobility, telemedicine, mobile Augmented Reality and Virtual Reality, and soon, the metaverse.

Mr Dzirutwe said 5G will also enable Zimbabwe’s enterprising business community to advance business operations, enter new markets, access finance and attract talent.

“Zimbabwe’s entrepreneurship spirit is the envy of the region. Access to affordable technical talent, good infrastructure, a liberalised telecom sector, proximity to key regional markets, and Government support for a thriving private sector,” he said.

GRI will later this month, from 27 March to 29 March, hold its Annual ICT, Digital Conference and Awards summit in Victoria Falls to deliberate on the benefits of ICT to the economy.

ICT, Postal and Courier Services Minister Dr Jenfan Muswere will headline the conference where several international and local experts will also speak on various topics including ICT and Digital Policy framework, 5G and 6G probing, lessons from India on digitalisation and the impact of Central Banks Digital Currency (CBDCs) on the economy among others.