INVESTORS from the Czech Republic and the United Kingdom (UK) were in Bulawayo on Monday to explore opportunities in various sectors of the city that is facing de-industrialisation.
The investors, led by former world tennis star Radek Stepanek and supported by engineer Andrew Graham, were assessing potential projects in the country’s second city.
Their focus extends beyond immediate economic gains, aiming to foster knowledge transfer between Zimbabwean universities, innovation hubs and their Czech-UK consortium.
“We are eager to partner Bulawayo and Zimbabwe as a whole in going green,” Graham told the media.
“We have a fuel additive technology that is compatible with blended fuels and presents a solution for mitigating environmental challenges while creating job opportunities locally.”
Graham said they wanted to establish partnerships with local universities and innovation hubs.
“This initiative, once implemented, has the potential to stimulate economic growth, position Zimbabwe as a regional leader in sustainable energy and create jobs for the local populace,” he added.
The investors held preliminary meetings with local businessmen and are evaluating options to strengthen their proposed projects.
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In addition to the energy sector, the delegation has shown interest in Zimbabwe’s healthcare landscape with plans to inject significant investment into the private healthcare sector.
Economist Calvin Chitsunge said government’s ongoing efforts to create a conducive business environment were evident in the surge in foreign investment interest.
Chitsunge said economic reforms and a focus on facilitating foreign direct investment were key to attracting capital to the country.
“This vision seeks to create a prosperous, empowered and highly industrialised nation by focusing on sustainable, inclusive economic growth,” he said.
Bulawayo, once the country’s industrial hub, is a pale shadow of its former self.
The city’s once busy Belmont industrial area has been turned into a church zone after companies, which closed or relocated from the city, were replaced by churches, mostly Pentecostal.
Government is even struggling to revive the once giant meat processor, Cold Storage Commission.
During the government of national unity between 2009 and 2013, the Distressed Industries and Marginalised Areas Fund was launched with US$40 million seed funding to capitalise Bulawayo industries without success.
Stakeholders said the funding was inadequate to meet the requirements of the companies affected.
The government also introduced the $70 million Zimbabwe Economic and Trade Revival Facility, but the initiative did little to revive the industries.
