Zimbabwe's factory sector has overtaken mining as the top pick for new investment plans. Manufacturers drew bids worth over US$1.2 billion, while the Zimbabwe Investment and Development Agency (ZIDA) cleared projects valued at more than US$2.6 billion. That's a 64% jump from the prior quarter.
For a nation long tied to digging up raw goods, this marks a shift in where the cash may go. Firms seem keen to make goods within Zimbabwe, rather than just ship out what comes from the ground.
Jimmy Psillos, who chairs the Macroeconomic Committee at the Confederation of Zimbabwe Industries, sees real promise here. His take is that better rules for firms could keep the cash coming, boost jobs, and help local firms do more trade with each other.
On the regional front, Midlands came first for the total value of planned deals. China kept its lead as the main source of foreign direct investment. Quite a clear sign of where much of the outside interest lies.
Economist Jonathan Dube also sees room for growth beyond the mines. He points to plants that turn raw goods into finished products, as well as projects that have begun work over the past five years. That gives the sector more ways to grow.
Still, a green light for a project does not mean it has been built. Officials want firms to act on their plans, and the state is working on steps to help make that happen. The payoff could be more jobs, stronger local firms, and more trade across the economy.
For a nation long tied to digging up raw goods, this marks a shift in where the cash may go. Firms seem keen to make goods within Zimbabwe, rather than just ship out what comes from the ground.
Jimmy Psillos, who chairs the Macroeconomic Committee at the Confederation of Zimbabwe Industries, sees real promise here. His take is that better rules for firms could keep the cash coming, boost jobs, and help local firms do more trade with each other.
On the regional front, Midlands came first for the total value of planned deals. China kept its lead as the main source of foreign direct investment. Quite a clear sign of where much of the outside interest lies.
Economist Jonathan Dube also sees room for growth beyond the mines. He points to plants that turn raw goods into finished products, as well as projects that have begun work over the past five years. That gives the sector more ways to grow.
Still, a green light for a project does not mean it has been built. Officials want firms to act on their plans, and the state is working on steps to help make that happen. The payoff could be more jobs, stronger local firms, and more trade across the economy.
