Zimbabwe’s Vice President, Hon. Gen. (Rtd) Dr. Constantino Chiwenga, inaugurated the SADC Investment Conference held in conjunction with the 7th SADC Industrialisation Week at the Harare International Conference Centre. The event brought together government officials, industry captains, and international investors to explore regional investment opportunities and industrial development.
Vice President Chiwenga highlighted the SADC region’s economic potential, noting its contribution of 27.78% to Africa’s GDP and its attraction of over 55% of the continent’s Foreign Direct Investment (FDI) in 2021. He pointed to recent lithium discoveries in Zimbabwe and the Democratic Republic of Congo as significant opportunities for the region to become a leader in lithium battery manufacturing and the electric vehicle industry.
The conference theme, “Promoting Innovation to Unlock Opportunities for Sustainable Economic Growth and Development Towards an Industrialized SADC,” supports the SADC Industrialization Strategy and Roadmap, which aims to enhance the policy environment, improve investment efficiency, and create regional value chains.
Chiwenga emphasized the strategic importance of the Africa Continental Free Trade Area (AfCFTA) in making the SADC region a prime investment destination. He urged member states to capitalize on their strengths, including peace and stability, an educated workforce, and abundant natural resources, to attract more FDI and boost regional integration.
He also referenced the Regional Infrastructure Development Master Plan (RIDMP) adopted in 2012, which prioritizes energy, water, transport, meteorology, tourism, and ICT projects. The Vice President commended the SADC Secretariat for developing a Compendium of SADC Investment Opportunities, which features 45 key infrastructure projects.
Zimbabwe is dedicated to fostering a business-friendly environment and offers various investment prospects in infrastructure, energy, and mineral resources. Initiatives like the Zimbabwe Development Investment Agency (ZIDA) and the One Stop Investment Services Center (OSISC) streamline investment processes to attract global investors.
In his closing remarks, Vice President Chiwenga called for innovative strategies to improve the investment climate, promote intra-regional investments, and establish partnerships to drive the region’s economic growth. The conference also includes exhibitions by SADC Investment Promotion Agencies, showcasing regional products and investment opportunities to encourage collaboration and learning.
