Investors stampede for possible investment: Minister

Source: Investors stampede for possible investment: Minister – NewsDay Zimbabwe


Bulawayo Provincial Affairs minister Judith Ncube has claimed that there was a stampede by investors that want to do business in Bulawayo targeting different industries in the city.

Last Thursday, Ncube told Southern Eye that the year 2022 was looking bright for Bulawayo, adding that there was optimism that the city’s industries would grow, based on the huge number of inquiries that were being made by prospective local and foreign investors.

She said next year, the city would host an industrial conference where it expects to attract a number of investors.

“We want to salute those industries that are still functioning in Bulawayo for being resilient. We thank them for raising the Bulawayo flag high. Several other investors have shown interest in businesses in the city after making inquiries. We will hold an industry conference to chat the way forward so as to accommodate them,’’ Ncube said.

She urged property owners in the city to renovate their buildings to ensure that they are attractive to investors, adding that investments had also been made in the area of rehabilitation of roads.

“We are also engaging the Egodini project developers in order to complete the project and ease traffic congestion in the city.  The whole project was affected by the COVID-19 restrictions and inflation,’’ she said.

Meanwhile, Industry and Commerce minister Sekai Nzenza said after a frustrating phase in which companies struggled to access cheap foreign currency to import machinery and raw materials, the auction system injected US$241 million into industries, giving them fresh impetus to expand.

However, the foreign currency auction system has struggled to provide enough funding to end the crisis.