Zimbabwe Clears Path for Investors

Zimbabwe’s government has gazetted the Zimbabwe Investment Development Agency Bill, which seeks to establish a one-stop shop for investors.

The bill was published in Saturday’s Government Gazette and is part of the government’s efforts to create an investor-friendly environment, The Herald reported April 7.

According to the legislation, the role of the agency will be to facilitate entry of investment projects.

“The primary function of the agency is to facilitate entry and implementation of investment projects, as well as to coordinate investment programs and strategies,” the bill read.

The bill also provides for organizations that would constitute the agency.

“Clause 5 (a) establishes a one-stop shop investment centre which shall have representatives of entities that play a role in the licensing, establishment and operationalization of investments,” the bill read. “These entities are the Zimbabwe Revenue Authority, the Environmental Management Agency, the Reserve Bank of Zimbabwe, the National Social Security Authority, the Zimbabwe Energy Regulatory Authority, the Zimbabwe Tourism Authority, the State Enterprises Restructuring Agency and specialised investment units and other relevant line ministries.

President Emmerson Mnangagwa has emphasized the government’s commitment to creating an enabling environment for both investors and the establishment of ZIDA is part of the ongoing reforms.

The government’s move to establish the agency follows Mnangagwa’s visit last year to Rwanda, where he was impressed by the strides made by the Central African country since the 1994 genocide.

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