THE Zimbabwe Investment Development Agency (Zida) is set to launch a matchmaking platform for small and medium enterprises (SMEs) by the end of the year.
The platform aims to enhance connectivity and collaboration among SMEs to drive investment and growth.
Speaking at the Zida Annual Stakeholders’ Strategy Input Forum, chief executive, Tafadzwa Chinamo, confirmed that initial work on the platform is underway.
“Certainly, by the end of this year, we should have launched the SME platform. Since we are now on our third and fourth one, we learned a lot when we launched the first two. We have launched similar platforms for the mining and tourism sectors,” said Chinamo.
Tafadzwa Chinamo, Zida chief executive
Chinamo emphasised that the agency is determined to avoid repeating the mistakes made during the rollout of previous platforms, noting that promoters had been hesitant to share information.
“A lot of promoters are very reluctant to share information on a platform like that. We have to do it in such a way that we are not asking for too much in terms of information,” he explained.
Earlier this year, Zida launched a do-it-yourself (DIY) licensing portal, a tool designed to streamline the investor licensing process by reducing the time needed to obtain licences.
According to Chinamo, the initiative has been well-received by stakeholders and is contributing to increased investor interest.
During the second quarter of 2024, the manufacturing sector saw the highest investment interest, with US$745,08 million in new investment licences granted.
Of the 154 new licences issued by the agency, 35 were for the manufacturing sector, while the mining sector received 65 licences, though with a lower projected investment value of US$282,74 million.
The total value of new licences in the second quarter stood at US$1,8 billion, up from US$622,18 million in the first quarter, with 143 licences issued.
“An eight percent growth in licences issued during the second quarter was noted compared to the first quarter, as investors have embraced the DIY licensing portal,” Chinamo added.
Zida remains optimistic about increased investment inflows following the approval of the public-private partnership (PPP) policy framework by Cabinet in May.
“We believe PPPs are a key driver for economic growth and development, and this framework will provide a clear roadmap for implementing these projects effectively,” said Chinamo.
Additionally, feasibility studies for major infrastructure projects, such as the Thuli-Moswa Dam and the Harare-Nyamapanda road, have been approved, with an estimated combined cost of over US$1 billion.
However, the agency expressed concern over a decline in timely licence renewals.
As of June 30, 2024, only 29 percent of the projects licensed in 2022 were operational.
“This performance leaves much to be desired, and from July 1, 2024, the recently developed M&E framework through our CRM system shall be in use to close this gap and ensure turnaround times are in line with international best practices,” Chinamo said.