Investment in Zimbabwe increases by 616pct year on year
Zimbabwe, Tue 30 August: Zimbabwe has managed to attract $942 mln worth of investment projects in the first 6 months of the year compared to $131 mln in the same period last year, representing a 616% growth in value terms, figures from the Zimbabwe Investment Authority have shown.
The growth was mainly driven by investments in agriculture, which rose 21 000% to $445 mln from $2.1 mln that was realised a year earlier. Service investment proposals also increased 118% to $121 mln from $9.9 mln in 2009, while mining investments edged up 222% to $106 mln in the period – Sunday Mail, August 28 Impala Platinum could invest 10 billion USD
10 Billion USD investment from Impala Platinum at risk
The $942 million investment that is realised is tiny when we observe the potential investments awaiting to come into the country.
Impala Platinum Holdings Ltd, the world’s second-largest producer of the metal, may invest as much as $10 billion in Zimbabwe to expand production if the government backs down on a demand that its business there be controlled by black citizens of the country. - Bloomberg
Rural electrification
The Rural Electrification Agency has set aside $2.5 mln to finance close to 100 projects under the Electricity End Use Infrastructure Development programme.
The EEUID programme seeks to make full use of electricity in the rural areas. REA has connected over 6000 institutions such as homesteads and public institutions such as irrigation schemes, clinics, business centres and schools since year 2002 when the organisation
started operations.
Zesa will next month introduce a new billing system following completion of the adjudication process which was delaying implementation. Energy and Power Development Minister Elton Mangoma last week said the arbitration on the use of smart meters had been completed, following which his ministry was now finalising the tender issue – Sunday Mail, August 28