eBusiness Weekly
Nelson Gahadza
The Zimbabwe Investment and Development Agency (ZIDA) has launched its electronic do-it-yourself (DIY) licensing portal, fulfilling its commitment to streamline the investment licensing process and improve the ease of doing business in Zimbabwe.
Busisa Moyo, the ZIDA chairman, emphasized the portal’s significance as a transformative step towards modernisation and efficiency, positioning Zimbabwe as a more competitive player in the global investment landscape.
“I understand that His Excellency (President Mnangagwa), when walking around in Dubai, said Zimbabwe is a thousand years behind,” Moyo said.
“Well, today we are seeking to move Zimbabwe forward in time. In recent years, we’ve witnessed a steady increase in foreign
direct investment and domestic direct investment, with many of them coming through ZIDA.”
He highlighted the diverse investment opportunities across various sectors, including agriculture, mining, tourism, and manufacturing.
“However, we recognise that untapped potential still exists. Launching the DIY portal is a significant step towards unlocking this potential by creating a faster, easier path for any investor worldwide to access Zimbabwe’s investment opportunities,”
Moyo said. “By simplifying procedures, reducing red tape, and enhancing transparency, we are sending a clear message to investors: Zimbabwe is open for business, and their investments are welcome and protected.”
Moyo further emphasised that the digitalisation of the ZIDA licensing system represents a crucial milestone in the agency’s modernisation journey.
“This transition from manual systems to digital platforms enhances efficiency and ensures accuracy, security, and accessibility,” Moyo said.
“It is a testament to our commitment to harnessing the power of technology to drive economic growth and prosperity.”
He urged all stakeholders, from Government agencies to private sector partners, to fully embrace and support the electronic platform and collaborate with ZIDA’s CEO to explore ways to contribute to Zimbabwe’s efforts in ensuring investors have easy access to opportunities in the country.
ZIDA chief executive Tafadzwa Chinamo acknowledged the country’s previous shortcomings in the ease of doing business rankings.
“We didn’t fare well,” Chinamo said.
“Part of ZIDA’s early mandates was to improve our ranking. We took that challenge head-on and asked ourselves what we could do internally to make the investor journey smoother and flawless.”
He noted that President Mnangagwa signed the ZIDA Act into law in 2020, and the transformation began in earnest in 2022.
“Since then, we’ve mandated electronic submissions,” Chinamo explained.
“Investors can now scan and upload their information directly to the platform. This launch marks the final phase, where investors can literally begin the application process from anywhere, on any device.”
Never Nyemudzo, the chief facilitator, highlighted the significant reduction in processing times achieved through the portal’s automation.
“Previously, applications took upwards of 30 days,” Nyemudzo said.
“Under phase one, this was reduced to 7 days. Now, I can confidently say we can process your licence in under 7 days, and we’re aiming to bring that down even further to between 2 and 5 days.”
He emphasised the improved efficiency and transparency enabled by the system, which allows for tracking inquiries and monitoring their progress.
“The feedback from investors and even our principals has been positive,” Nyemudzo said.
“We are also collaborating with the Zimbabwe Revenue Authority (ZIMRA) to further enhance the ease of doing business and create a more streamlined experience for investors.”
