Investors poured $4.7 billion into Zimbabwe through 207 new licenses issued by the Zimbabwe Investment and Development Agency. The first quarter report shows that people still trust government policies. During this time, another 78 licenses worth $363 million were renewed.
ZIDA head Tafadzwa Chinamo said mining, farming, and clean energy remain popular with investors. New licenses jumped nearly 45 percent compared to early last year. The agency launched an online system for handling license applications from start to finish in March. Most licenses went to mining projects - 88 permits totaling $906 million. Energy projects had fewer permits but higher dollar values.
The report noted that fewer companies renewed licenses before deadlines. Only about 15 percent renewed on time, down slightly from before. ZIDA started sending automatic reminders to fix this problem. Most investment money—about 60 percent—paid for imported equipment needed in mining and manufacturing. Foreign cash made up 11 percent of investments.
Harare led with 78 new licenses, but Mashonaland West earned the most, at $804 million. Matabeleland North received 14 permits worth $1.4 million. Chinamo said his agency created research papers about key industries to help investors.
ZIDA head Tafadzwa Chinamo said mining, farming, and clean energy remain popular with investors. New licenses jumped nearly 45 percent compared to early last year. The agency launched an online system for handling license applications from start to finish in March. Most licenses went to mining projects - 88 permits totaling $906 million. Energy projects had fewer permits but higher dollar values.
The report noted that fewer companies renewed licenses before deadlines. Only about 15 percent renewed on time, down slightly from before. ZIDA started sending automatic reminders to fix this problem. Most investment money—about 60 percent—paid for imported equipment needed in mining and manufacturing. Foreign cash made up 11 percent of investments.
Harare led with 78 new licenses, but Mashonaland West earned the most, at $804 million. Matabeleland North received 14 permits worth $1.4 million. Chinamo said his agency created research papers about key industries to help investors.
