DESPITE widespread criticism of the Government for its alleged failure to ‘steer the country from its economic abyss’, the path to Zimbabwe’s rebound as a global economic hub continues unabated following the sealing of crucial investment deals in recent weeks.
The deals which range from mining, infrastructure development and transport are without doubt an endorsement of the ruling ZANU PF party policies and will propel the economy to dizzy heights.
While critics have been frantically trying to whip up emotions through their relentless attacks on the leadership, those tasked with leading the country have been putting in place stern measures to steer the economy.
More morale boosting deals are in the offing as Government continues to steadily, but surely give assurance and confidence to the much needed investors.
Interestingly the deals are being signed even before the country’s economic policy underpinned by the blueprint; the Zimbabwe Agenda for Sustainable Socio-Economic Transformation (Zim0ASSET) has secured funding.
But China has also indicated that it will fund Zim-ASSET to the tune of US$10 billion while talks to finalise the finer details of the funding package are nearing completion.
This is just, but the beginning.
A few months ago many in our midst would have predicted that nothing positive would ever come out of this country given the negative and hostile publicity by some sections of the media.
Last month, Government announced that it had finalised the Essar deal after New Zim-Steel chief executive officer, Vinod Arora said his bosses met President Robert Mugabe on May 7 and were given assurances that the deal would not collapse.
Essar Africa Holdings agreed to buy 54 percent in Zimbabwe Iron and Steel Company (ZISCO) in 2010.
Government kept 36 percent with the remaining 10 percent going to minority investors.
The Essar deal will transform the Midlands and Mashonaland East provinces through an array of investments.
Despite these attempts to tarnish the country, this week, the Government sealed a US$100 million credit facility for small-scale miners with Chinese company, Xuzhou Construction Machinery Group.
The landmark deal dovetails Zim-ASSET which recognises mining as a key economic driver.
Xuzhou also expressed interest in turning Zimbabwe into a hub for supplying mining equipment by establishing a manufacturing plant in the country.
Through the credit facility, annual gold production is expected to rise to 14 tonnes from the current four tonnes.
Mines and Mining Development Minister, Walter Chidhakwa hailed Xuzhou plan to set up a machinery plant in Zimbabwe saying it was a big sign of investor confidence.
“XCMG has not stopped there, they have proceeded to say they are looking at the possibility of establishing an assembly plant for some of their equipment here in Zimbabwe,” said Minister Chidhakwa.
“I think that’s a big sign of investor confidence. I think very easily we can become a supplier of mining equipment into the region, not just in Zimbabwe.”
It emerged also that another Asian giant will soon unveil its own funding package for small-scale miners.
The deal has also been sealed, sources told The Patriot this week.
Government has also identified investors to partner with it in the revival of the Shabanie Mashava Mines following the completion of a needs assessment study by a Zimbabwe Mining Development Corporation (ZMDC) technical team.
At their peak the mines which produce the once banned amphibole type of asbestos, chrysolite, had a production of 140 000 metric tonnes of chrysolite asbestos fibre over that period.
They had a 5 000 strong workforce.
Another 20 000 depended on the mines for survival.
Early this week, it was announced that the Government had begun the process to implement a comprehensive plan to decongest major cities by phasing out commuter omnibuses. One such operator, Metro Buses, has already been commissioned to participate in a pilot project of the new system.
The interesting catch here is that the move will bring in more investors into the country.
A ring road, running around central Harare will be constructed to detour heavy vehicles and large volumes of travellers away from the Central Business District.
Several companies are reported to have already submitted bids for the ring road project, which is set to begin at the end of this year, a local weekly The Sunday Mail reported this week.
With results of Government efforts to develop slowly coming out in the open, there is no doubt that the country is headed for good times.