Zimbabwe Looks to Benefit from Egypt's Expertise in Renewable Energy, Manufacturing

Douglas Tawanda Munatsi CEO of Zimbabwe Investment Development Agency (ZIDA) said that Egypt is remarkably advanced in the sectors of renewable energy, manufacturing, textiles and tourism, stressing that Zimbabwe can benefit from Egyptian expertise in these areas.

On the sidelines of the "IPAs Africa Forum" in Sharm El Sheikh, Munatsi indicated on Sunday that he will hold talks with the Egyptian ambassador in Zimbabwe regarding bringing a delegation of Egyptian businessmen to his country to learn about the available investment areas.

[caption id="attachment_246275" align="aligncenter" width="960"] GAFI Chairman Mohamed Abdel Wahab during the  IPAs Africa Forum, June 13, 2021 (File Photo)[/caption]

He stressed the importance of the African Free Trade Agreement (AFTA) in promoting trade between the countries of the continent and increasing production capacities, as it is important for African countries not to only export raw materials, but to manufacture them locally to increase the added value.

He described the agreement as a big step, and that every country should take advantage of that opportunity and not impose obstacles that prevent the full implementation of the agreement, and instead of looking at narrow interests at the local level, it should look at the huge potential of the African market, which includes more than one billion people and has huge opportunities for growth.

[caption id="attachment_246307" align="aligncenter" width="960"] Heads of African investment  authorities at IPAs Africa Forum in Sharm el Sheikh, June 13, 2021. (File Photo)[/caption]

Munatsi explained that his country is rich in natural resources, especially minerals such as gold, iron and chromium, and has the second largest reserves of platinum in the world, yet many of these resources are still untapped, and there are promising investment opportunities in the sectors of agriculture, tourism and education.