10 June 2018

Zimbabwe: Mnangagwa Plans Rwanda-Style Investment Agency

Photo: Wikipedia
Kigali, Rwanda

THE government is setting up a streamlined investment service modelled on the highly regarded Rwanda Development Board.

According to a person close to the Harare administration, the new agency will "bring together all investment functions under one umbrella and will make it easier to attract investment" to Zimbabwe.

Considered one of President Emmerson Mnangagwa's pet projects, the new Zimbabwe Investment and Development Authority will replace the existing Zimbabwe Investment Authority as well as a number of other related agencies.

"The aim is to be able to approve investments within one day. The new agency will also reduce bureaucratic incompetence and rent-seeking behaviour over access fees," the source told the Journal.

Mnangagwa is hoping ZIDA will be operational by July 30th.

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