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George Maponga Masvingo Bureau
Masvingo is on the brink of a major economic turnaround, taking advantage of Government’s devolution programme to lure investors in various sectors of the provincial economy, as the province seeks to attain a US$8 billion provincial Gross Domestic Product (GDP).

Masvingo Provincial Affairs Minister Ezra Chadzamira yesterday said the province has so far received inquiries from investors scouting for various opportunities in mining and agricultural spheres, among other areas that promise huge returns in the short to medium term.

He painted a positive picture of the province’s economic prospects bouyed by a flood in investment inquiries from within and without the country’s borders.

Addressing the media on the state of development in the province, Minister Chadzamira said there was widespread enthusiasm over the devolution programme in Masvingo after the province’s local authorities received a combined nearly $29 million in Equalisation Grants.

‘’In light of our Devolution Policy and the province’s road map to attain an US$8 billion-dollar Provincial Gross Domestic Product by 2030, our local authorities have started planning for the use of the disbursed Equalisation Grants to the tune of $28,89 million,’’ he said.

‘’We are further inspired by the investment inquiries in our province.’’

Among the sectors several investors have shown interest to invest in include macadamia nuts and avocado pea production for Middle East and European markets, chrome smelting and production of stainless steel by the Zimbabwe Coke Pvt Ltd Company, which is currently in Matabeleland North province.

Minister Chadzamira said N Richards’ Group and Econet Wireless have also shown interest in the construction of state-of-the-art malls in the province.

‘’In our province, Boustead Investment has started assessing the existing properties of the Cold Storage Company with a view to coming up with a viable business model,” he said. “Local livestock farmer and out-grower schemes will be part of this business model.’’

In the agricultural sphere, Minister Chadzamira exhorted Government to speed up crafting of the Tugwi-Mukosi Dam master plan to fully exploit the province’s vast irrigation potential.

He commended Government for introducing Silo-Smart People’s shops that will allow communities, especially in rural areas to purchase basic goods at affordable prices.

Minister Chadzamira paid tribute to President Mnangagwa’s administration for coming up with Statutory Instrument 142 of 2019 which he said achieved dual goals of stemming price madness, while also restoring the nation’s currency integrity and sovereignty.

Masvingo province, he said, stood in solidarity with President Mnangagwa’s stewardship of the economy which has set the country on a growth trajectory, with positive indicators coming from encouraging ratings from multi-lateral financial institutions such as the World Bank that recently accorded Zimbabwe a place in the Low Middle Income Economy category.

Besides boasting the highest dam density in the country which augurs well for large-scale irrigation development, Masvingo is well poised to leverage its vast mineral resources to exponentially grow its GDP and engender socio-economic development.