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George Maponga Masvingo Bureau
Over 150 local and international investors are expected to grace the country’s inaugural sugar and ethanol conference in Harare today. The indaba is expected to see an increase in investment in the industry, which is key to the country’s quest to achieve an upper middle-income economy status by 2030.

The two-day international conference was initially pencilled in for Triangle Country Club in Chiredzi before it was moved to Andy Miller Hall in the capital at the behest of Government.

Besides attracting more investment to increase Zimbabwe’s aggregate sugar output, the conference is expected to explore opportunities in the country’s ethanol sector, which is key to meeting the nation’s energy needs in the wake of a surge in energy demand as the economy expands.

Zimbabwe’s sugar and ethanol industry remains largely untapped and has potential to expand into a multibillion-dollar industry that will benefit all players along the value chain right from cane farmers and suppliers of agricultural products.

The conference comes at a time when President Mnangagwa’s administration has been pushing the “Zimbabwe is Open for Business” initiative to the international world, exhorting investors to come and set up shop in the country in the wake of an improved operating climate predicated on new ease of doing business policies by Government.

The two-day conference is expected to attract more than 350 participants locally, regionally and internationally, with top Government officials led by President Mnangagwa expected to grace the event being organised by DEAT Capital.

Managing director Mr Nicky Moyo said the sugar industry was a potential game changer for Zimbabwe since there were vast opportunities in the entire value chain.

“It is all systems go for the sugar and ethanol conference that will run for two days and we are expecting more than 150 delegates from both local and international investors and cane farmers in the agricultural implements side and also Government and NGOs,” he said.

Mr Moyo said the conference will unlock opportunities for increased funding in the sugar and ethanol industry.
“The sugar industry is one of the main pillars of the country’s agricultural sector, which is a major pivot for Zimbabwe’s economic growth in tandem with Vision 2030,” he said.

“The conference is also key because of the importance of the increasing investment in ethanol production to meet the country’s energy needs.”

Zimbabwe is producing an average 480 000 tonnes of sugar annually at its twin sugar mills at Triangle and Hippo Valley Estates in Chiredzi that are owned by South African-headquartered sugar giant Tongaat Hulett.

The completion of Tugwi-Mukosi Dam in southern Masvingo was expected to open fresh avenues to expand the sugar industry in terms of both sucrose and ethanol production.