Opinion / Columnist
Zimbabwe poised for economic growth
30 Dec 2015 at 11:33hrs | Views
The recent statement by Industry and Commerce Minister, Mike Bimha that a South African company Willoton Group will spend at least $USD 40million to set a consumer goods plant in Mutare is a noble idea that must be commended.
Foreign investors are much welcome in the country as they support in boosting the nations' economy. The current economic blue print driver, Zim-ASSET advocates for employment creation. By setting up this consumer goods plant, a lot of job opportunities are created.
It is reported that Willoton Group manufactures a wide range of products which include edible oils, margarine, cooking oil and bathing soaps. Normally, most oils, specifically cooking oil is extracted from soya beans and sunflowers. Therefore, this could mean that there will be increased demand for crops such as sunflower and soya beans.
It is pleasing that crops such as sunflowers and soya beans do not require a lot of rainfall. With the current climatic change, where rainfall patterns have changed, production of such crops will not be a calamity. Planting soya beans and sunflowers will be a great advantage as there will be a ready market for their crops. This will also boost food security in the country.
Quoted in The Herald, Minister Bimha confirmed that the South African company had expressed interest in setting up a plant as they are currently going through the necessary statutory approvals.
Setting a consumer good plant in Mutare is also a splendid idea in the sense that some of the manufactured products can be exported to neighbouring countries Mozambique and Zambia. Selling local products to neighbouring countries will maximize proceeds thereby enhancing the Gross Domestic Product of the country.
With such investments in pipeline, Zimbabwe's economic growth rate will increase in 2016. Implementation of mega deals that were signed between Zimbabwe and China is another contributing factor that will support the nation's growth rate. It is pleasing that Chinese President, Xi Jinping who was in the country early this month pledged $60 billion aid to develop African countries.
It is heartening that recently, a Nigerian billionaire, Aliko Dangote was issued with licenses for three projects by the Zimbabwe Investment Authority. The three projects on which the Dangote Group wishes to invest on are energy plant using coal, cement manufacturing plant and a coal mining venture. Full implementation of such deals will indeed add value to the economic growth of the nation.
Implementation of mega deals that were signed between Zimbabwe and foreign investors will indeed assist in improving the country's ailing economy.
Foreign investors are much welcome in the country as they support in boosting the nations' economy. The current economic blue print driver, Zim-ASSET advocates for employment creation. By setting up this consumer goods plant, a lot of job opportunities are created.
It is reported that Willoton Group manufactures a wide range of products which include edible oils, margarine, cooking oil and bathing soaps. Normally, most oils, specifically cooking oil is extracted from soya beans and sunflowers. Therefore, this could mean that there will be increased demand for crops such as sunflower and soya beans.
It is pleasing that crops such as sunflowers and soya beans do not require a lot of rainfall. With the current climatic change, where rainfall patterns have changed, production of such crops will not be a calamity. Planting soya beans and sunflowers will be a great advantage as there will be a ready market for their crops. This will also boost food security in the country.
Quoted in The Herald, Minister Bimha confirmed that the South African company had expressed interest in setting up a plant as they are currently going through the necessary statutory approvals.
With such investments in pipeline, Zimbabwe's economic growth rate will increase in 2016. Implementation of mega deals that were signed between Zimbabwe and China is another contributing factor that will support the nation's growth rate. It is pleasing that Chinese President, Xi Jinping who was in the country early this month pledged $60 billion aid to develop African countries.
It is heartening that recently, a Nigerian billionaire, Aliko Dangote was issued with licenses for three projects by the Zimbabwe Investment Authority. The three projects on which the Dangote Group wishes to invest on are energy plant using coal, cement manufacturing plant and a coal mining venture. Full implementation of such deals will indeed add value to the economic growth of the nation.
Implementation of mega deals that were signed between Zimbabwe and foreign investors will indeed assist in improving the country's ailing economy.
Source - Chido Chikuni
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