Harare, (New Ziana) – The Zimbabwe Investment Development Agency (ZIDA) issued nearly 170 investment licenses worth over US$1 billion in the third quarter of the year, an increase of nine percent compared to the same period last year, the agency has said.
According to ZIDA’s third quarter report, the mining sector had the highest number of licenses issued with a projected investment value of US$579.90 million from 74 licenses. Regionally, Harare had the highest number of new licences.
“We are pleased to report that the quarter recorded a 9% increase in the number of licences issued compared to the previous quarter.
In total, 168 new licenses were issued in the just ended quarter, with a projected investment value of US$1.171 billion.
“Also pleasing is the fact that investors have fully embraced the online DIY Licensing Portal. On 1 September 2024 the Agency adopted the digital DIY Portal as the sole means by which investors can apply for the ZIDA Investment Licence,” said ZIDA chief executive officer, Tafadzwa Chinamo in his statement in the report.
He noted that, in sectoral terms, mining attracted the most number of investors, closely followed by the energy sector. In value terms, mining drew in potential investment of around US$579.9 million. In addition to the new licences issued, ZIDA also renewed 56 licenses worth US$137.29 million during the period.
Harare Metropolitan province had a total of 83 new licenses issued with a projected investment value of US$104.78million followed by Midlands province which recorded 24 new licenses whose projected investment value is US$139.07 million.
Both Mashonaland West and Mashonaland Central had 14 new licenses each with a projected investment value of US$393.18 million and US$60.81 million respectively.
Masvingo province had the least number of new licenses as it recorded only three with a projected investment value of US$146.71 million followed by Manicaland province which recorded four new licenses with a projected invested value of US$121.07 million.
Chinamo said ZIDA acknowledged the importance provinces played in attracting investment, and this is reflected in its supportive advisory role the agency was rendering to provincial and rural district councils.
“To equip the provinces with the requisite skills in attracting and facilitating investments as well as developing bankable project proposals the Agency conducted workshops in Bulawayo and Harare.
“Southern provinces attended the Bulawayo workshop and northern ones the Harare one. Since the training, we have noted considerable improvement in the quality of proposals being submitted by RDCs to the Agency,” he said.
New Ziana
