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Zimbabwe launches digital platform to woo foreign investment in tourism sector

by Staff reporter
16 Oct 2023 at 06:14hrs | Views
Zimbabwe's investment promotion agency on Friday launched a digital platform to facilitate local and foreign investment in the country's tourism sector.

The platform, known as the Zimbabwe Tourism Investment Matchmaking Platform, will enable both local and foreign investors to connect with tourism promoters in Zimbabwe and express their interests.

Tafadzwa Chinamo, the chief executive of the Zimbabwe Investment Development Agency (ZIDA), made this announcement during the ongoing Sanganai/Hlanganani World Tourism Expo, which is taking place from Thursday to Saturday in Bulawayo, the country's second-largest city.

The platform is set to go live starting Monday, with an initial listing of 35 projects.

"We have noticed that many investors express interest in Zimbabwe's tourism industry, but we face challenges in identifying specific projects for their investments. The platform allows any project promoter in the tourism sector to upload relevant information and outline the support they require from potential investors," Chinamo said.

This platform is part of ZIDA's broader efforts to enhance both local and foreign investment in Zimbabwe's tourism sector. It is expected to diversify and boost foreign investment in the tourism industry, which has primarily relied on local investments thus far, according to Chinamo. Previously, ZIDA launched a similar platform for the mining sector.

Zimbabwe Tourism Authority said that the sector attracted investments worth 300 million U.S. dollars in 2022. Tourism and Hospitality Industry Minister Barbra Rwodzi said that the country aims to double investment in the sector to 600 million dollars, as part of its pursuit of a 5-billion-dollar tourism economy by 2025.

Tourism plays a vital role in Zimbabwe's economy by generating foreign currency and creating employment opportunities. The country boasts a range of tourist attractions, including the well-known Victoria Falls, one of the seven natural wonders of the world.

Source - Xinhua