President Emmerson Mnangagwa has urged individuals and entities outside the country to invest in national priority projects as part of efforts to drive economic growth and development.
Speaking during the commissioning of the New Glovers 10MW Solar Power Plant in Kwekwe on Friday, President Mnangagwa said citizens, including those in the diaspora, should channel their resources towards building the country’s future.
“Meanwhile, I urge individuals and entities, including those in the diaspora, to diversify their investments into key national priority projects. Kana mawana zvamawana kuminda, mumigodhi, neikoko kunze kwenyika, musadye mari yose. Ngativakei nyika yekwedu, nematunhu edu, kuti nyika ibudirire, remangwana rive raka jeka,” he said.
The President described the establishment of the new solar power generation facility as a major milestone that reflects growing investor confidence in Zimbabwe’s economic reforms and long-term development agenda.
He said the initiative is historic, noting that it is among the first projects to be implemented under the Government Project Support Agreement framework.
“This is a mechanism which creates a conducive and bankable investment environment for renewable energy development and infrastructure financing. It is intended to provide comfort to investors through measures that guarantee cost-reflective tariffs, guaranteed uptake of generated power, and the offshore repatriation of dividends,” he said.
President Mnangagwa reiterated that the framework is designed to position Zimbabwe as an attractive destination for long-term investment by offering guarantees to investors and creating a stable environment for infrastructure development.
He commended New Glovers Solar for spearheading the project, saying the development demonstrates the important role being played by the private sector in complementing Government efforts to modernise and grow the economy.
He also welcomed the company’s plans to expand the initiative into a 100MW Solar Power Plant, pledging Government support towards the project.
“The company’s ambition to expand this initiative into a 100 MW Solar Power Plant is commendable. Well done. Be assured that my Administration will support you. Zimbabwe is indeed open for business,” he said.
“This achievement is a testament that when Government and the private sector work hand in hand, Zimbabwe can deliver projects of international standard.”
He said the project will also create employment opportunities for communities, in line with the Second Republic’s development philosophy of leaving no one and no place behind.
“We shall continue to implement programmes and projects that close the lifestyle and opportunity gaps between our citizens in urban and rural areas,” he said.
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