The Zimbabwean government also issued licenses to 615 new foreign investors, a 130% increase from 2022, said Willard Manungo, deputy chief secretary in the Office of the President and Cabinet, at a recent Zimbabwe Investment and Development Agency (ZIDA) stakeholder forum.

According to him, China remains Zimbabwe’s largest investor, with new investments coming from South Africa, the United Arab Emirates and Botswana, among others.

“The increase in investors can be largely attributed to President Emmerson Mnangagwa’s continuous promotion of Zimbabwe as a safe investment destination,” he said.

Manungo also noted that public-private partnerships are also on the rise, with notable projects such as the Thuli-Moswa Dam and the Harare-Nyamapanda highway, valued at over US$1 billion, set to commence soon.

ZIDA has also reported an 8% increase in the number of licenses issued in the second quarter of this year, reflecting continued investor confidence. According to ZIDA CEO Tafadzwa Chinamo, the agency is actively developing do-it-yourself platforms to further streamline the investment process and attract more businesses.

Chinamo expressed the agency’s commitment to further improving the ease of doing business environment in Zimbabwe.