Zimbabwe must move beyond policy to bankable projects – ZIDA

The Zimbabwe Investment and Development Agency (ZIDA) has urged stakeholders to transform Zimbabwe’s devolution agenda into bankable investment projects that can attract local and foreign capital.

Zimbabwe’s devolution policy is a constitutional and socio-economic strategy aimed at transferring powers, responsibilities and resources from the central government to provincial and local authorities to improve service delivery, deepen democratic participation and promote equitable development across the country’s provinces.

However, independent analysts argue that the policy has delivered mixed results, citing continued central government control, inadequate funding and administrative bottlenecks as major impediments to its full implementation.

As part of efforts to accelerate the programme, the government has rolled out Provincial Investment Conferences across the country to promote balanced regional development, industrialisation and job creation.

Speaking at the inaugural Mashonaland Central Provincial Investment Dialogue, ZIDA chief executive Tafadzwa Chinamo said the success of devolution would ultimately depend on the ability of provinces to convert policy into commercially viable investment opportunities.

“While policies provide frameworks, projects must deliver results. As such, the devolution policy must translate into bankable projects that attract investors. The ideas must solve problems, create value and attract capital. The proposed projects must demonstrate profitability, scalability and sustainability,” said Chinamo.

He identified rural industrialisation as one of the country’s biggest untapped opportunities, describing it as central to Zimbabwe’s economic transformation rather than an optional development strategy.

According to Chinamo, Zimbabwe’s abundant fertile land, mineral resources and human capital present significant opportunities for value addition and job creation if the country moves beyond exporting raw commodities.

He said investors are drawn to projects that demonstrate strong commercial fundamentals.

“What makes a project bankable is clear commercial viability and value proposition, clear sources of revenue streams, validated market demand, risk identification and mitigation, strong governance and legal compliance, scalability and measurable economic impact,” he said.

Chinamo added that many potentially viable investment opportunities fail to secure funding because they are poorly structured and inadequately prepared.

“The solution must be technically sound, supported by market demand, and include a clear assessment of capital expenditure, operational expenditure, profitability and returns to investors. Without adequate preparation and investment readiness, attracting capital is next to impossible,” he added.

His remarks come as Zimbabwe intensifies efforts to attract investment into the provinces through decentralised economic development initiatives aimed at unlocking local resources, boosting industrialisation and creating employment opportunities.

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