The Zimbabwe Investment and Development Agency (ZIDA) issued 200 new investment licenses in the fourth quarter of 2024, marking a significant 19.04% increase from the previous quarter. This milestone reflects ZIDA’s strategic commitment to digital transformation and its focus on streamlining the investment process to attract both local and foreign investors.
Central to this success is the implementation of the innovative “Do It Yourself” (DIY) licensing portal, which has simplified the application process. Launched in February 2023, the portal has processed 98.1% of all applications, reducing bureaucracy, saving time, and enabling investors to apply online without the need for physical visits. This digital shift has cut average processing times to less than five days, a remarkable efficiency improvement that demonstrates the country’s readiness for modern investment practices.
ZIDA CEO, Mr. Tafadzwa Chinamo, highlighted the achievement:
“Our vision to fully digitalize operations was realized in the fourth quarter. This transformation ensures that we meet investor needs swiftly, further enhancing Zimbabwe’s appeal as an investment des
While the number of licenses surged, the proposed investment values saw a decline, primarily due to the absence of high-value projects that had boosted figures in previous years. Nevertheless, the real estate sector stood out, attracting US$2 billion, or 43.6% of the total projected investment, followed by the energy sector, with US$1.043 billion in investments, showcasing Zimbabwe’s ongoing efforts to address critical infrastructure needs.
Regionally, Harare Province remained a hub for investment licenses due to its established ecosystem in manufacturing, construction, and real estate. However, Mashonaland Central and Mashonaland West provinces led in proposed investment values, emphasizing the growing investor inte
A notable achievement during the quarter was the finalization of Public-Private Partnership (PPP) guidelines, approved by the PPP Committee. These guidelines are set to provide a robust framework for collaborative infrastructure projects and will be presented to the Cabinet in early 2025. Mr. Chinamo underscored their importance:
“PPPs are critical for infrastructure development, and the guidelines will ensure clarity for all stakeholders, enabling impactful projects.”
Additionally, the government’s focus on improving the business environment is evident in the development of the Single Window for Investor Entry and Establishment (SWIEE). This platform, led by ZIDA, aims to centralize government services for investors, addressing a key concern from the Investor Sentiment Analysis Survey conducted with the International Finance Corporation
As Zimbabwe strives to become an upper-middle-income economy by 2030, ZIDA’s strategic priorities include attracting investments in technology, innovation, and manufacturing while promoting sustainable practices. ESG (Environmental, Social, and Governance) principles will be integrated into investment strategies to ensure long-term value and social responsibility.
Investment inquiries have remained high throughout the year, underscoring the growing confidence in Zimbabwe’s economic prospects. With ZIDA’s leadership in promoting and facilitating investment, the agency continues to play a pivotal role in shaping the nation’s development agenda and fostering a competitive, investor-friendly environment.
