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Kudakwashe Mugari in ABIDJAN, Cote d’Ivoire

ZIMBABWE has narrowed the gap between perception and reality through the Second Republic’s implementation of comprehensive economic reforms, which has whetted investor appetite, leading to many companies and nations sending their representatives to visit the country to satisfy themselves that, indeed, seeing is believing.

Delegates to the Africa Investment Forum 2022, which ends here today, have had the opportunity to be apprised of the many milestones that Zimbabwe has hit for the greater good of all citizens, and the measures put in place to attract capital.

Despite concerted efforts by the Southern African country’s detractors to project negativity on the global screen with the objective of effecting regime change under the guise of presumed infringement of human rights, the motherland has bounced back on the world map as the place to be.

Numerous investors at the forum expressed interest in Brand Zimbabwe, with one of the three deals valued at US$105 million having been sealed.

Supported by Steelmakers Limited, the project finance venture was part of a combined portfolio of US$265 400 000 million that the Zimbabwean delegation, led by President Mnangagwa, presented to the forum for possible funding.

Highlighting the many business opportunities in Zimbabwe at a discussion organised by the Zimbabwe Investment and Development Agency (ZIDA) and the African Development Bank (AfDB) during the Africa Investment Forum 2022 yesterday, President Mnangagwa told potential investors that Zimbabwe was a conducive space for business.

“There is a gap between perception and reality, but through our policy of engagement and re-engagement, that gap has been narrowed because people are able to come and see for themselves that we are a friend to all. We are a stable country.”

He implored would-be investors to consider visiting Zimbabwe to get first-hand appreciation of what obtains on the ground, instead of relying on hearsay and hare-brained stories peddled by the Western media on the country.

“Let me look at the things that people feel about us. The first risk, which I might not like to talk about, is that some write in their newspapers that Zimbabwe is a risky country in terms of investment.

“And, I am saying, no, you should come and talk to investors in Zimbabwe who are established there.  Then you can subscribe that there is a difference between perception and reality,” said the President.

Indeed, perception is not reality as those who visit the country soon realise on touching down.

“As a result, many companies and nations have sent emissaries to Zimbabwe to see for themselves. When they come in, they find a vast difference between what they hear and what they see on the ground,” President Mnangagwa explained.

He said his Government was aware that capital is delicate, hence, it avoids volatility of any kind. As such, investor friendly policy frameworks have been put in place.

“Although we are a small country with a population of about 15 million, we are blessed with vast mineral wealth.

“However, it is not enough that we have resources.

“We must, therefore, create an environment that is safe for business; an investment environment that is attractive,” President Mnangagwa said.

He said since investors are spoilt for choice across Africa and beyond, the need always arises to create an atmosphere – politically and economically – that ensures investment security and guarantees returns.

To that end, the Second Republic established the Zimbabwe Investment and Development Agency (ZIDA) – a non-stop centre for investors where information on every aspect of investment is readily available.

Established in 2020 through the ZIDA Act, ZIDA promotes investment and development by facilitating both local and foreign ventures in the country.

It was born out of three investment authorities previously housed in different Government ministries and departments.

Hinged to its past, Zimbabwe has been in the shadow of its historical link to the former colonial power, Britain, since Independence in 1980, a situation that has been particularly precarious in the past 21 years.

The quest to correct historical imbalances on land ownership patterns that divested Zimbabweans of their ancestral heritage, angered the West, which retaliated by imposing illegal economic sanctions on the country, resulting in its isolation from the global community.

“We were the breadbasket of the SADC region, possibly of Africa,” President Mnangagwa reflected.

“After independence in 1980, 70 percent of the land was in the hands of the British (whites) and 30 percent in the hands of the local people. That could not be sustained.”

He highlighted that all that was in the past now as Zimbabweans have repossessed their land, and are now using it productively to sustain livelihoods, supported by the Government through the Pfumvudza/Intwasa and the Presidential Inputs Scheme.

With the agriculture sector on the rebound, the country is poised for flour self sufficiency as the historic national wheat production in the 2022 season has surpassed expectations.

AfDB president, Dr Akinwumi Adesina, who invited the President to the Africa Investment Forum 2022, drove the point home.

“I want to tell everyone here that Zimbabwe is my home. There is political will in Zimbabwe. Zimbabwe is having economic reforms. As AfDB, we are going to swim side-by-side with Zimbabwe. In summary, I am saying Zimbabwe is back on the world map.”

Meanwhile, President Mnangagwa paid a courtesy call on Cote d’Ivoire President Alassane Ouattara at State House in Abidjan.

“We have had the opportunity to share the challenges and successes our respective countries are making, and the need for further co-operation between our two countries. I am also impressed with the level of development we have seen here,” said the President after the meeting.