Diaspora investors turn attention to Bulawayo opportunities

Judith Phiri [email protected]

THE Africa, USA and Diaspora Alliance (AUUDA) Africa is exploring investment opportunities in Bulawayo and other parts of Zimbabwe as it seeks to harness diaspora capital, expertise and networks to support economic growth and development.

The initiative comes at a time when Bulawayo is positioning itself as a key investment destination, with stakeholders highlighting opportunities in tourism, manufacturing, infrastructure, agriculture and renewable energy as part of the city’s re-industrialisation drive.

South African-American artiste, cultural ambassador and entrepreneur Mr Ronnie “Big Sbuda” Dunn is in Bulawayo as an international cultural guest and Global Ambassador for AUUDA Africa.

Speaking after engagements in the city on Wednesday, Mr Dunn said discussions had focused on practical solutions to community challenges and ways of attracting diaspora investment.

“We were talking about a way to get through some of the issues that Bulawayo is facing as a community. As a representative of the diaspora, we are trying to come in and invest with our brothers and sisters, we are trying to find a home within the community,” he said.

Drawing comparisons with other African countries that have successfully engaged their diaspora communities, Mr Dunn said Zimbabwe could benefit from similar approaches.

“If you look at countries like Ghana they embraced Americans and UK people, connecting with the global diaspora through targeted economic programmes and major partnership deals that assisted with economic growth,” he said.

Mr Dunn said many people within the diaspora wanted to reconnect with their ancestral roots and contribute to development while learning more about African culture and traditions.

He said greater collaboration was needed to address common challenges and unlock new opportunities.

“So, we are trying to give solutions with investments. We were discussing ways such as like dealing with the visa issues, who can assist to address that by giving some solutions,” said Mr Dunn.

He added that access to land for residential, agro-residential and industrial development was important for diaspora investors, while investing in young people remained essential for long-term national development.

International Trade Council country representative and chairman for Zimbabwe, Mr Jermaine Chapfiwa, said culture, heritage and regional identities were important components of investment and trade promotion.

“We have to link trade and investment into our culture, tradition and city. One of many things that I wanted to position was the International Trade Council as the link into Africa, in terms of safeguarding and neutralising the norms of scams and all these other things that happen when it comes to investment or trade consignments not being paid,” he said.

Mr Chapfiwa said the engagements had provided valuable insight into Bulawayo’s history and economic potential.

“So, I feel like I have fulfilled that agenda and also gotten to understand and learn a bit of history on how we can best drive investment into the city and also create avenues for value addition through agro-processing, renewable energy among other things,” he said.

He said attracting diaspora investment was critical to helping Bulawayo realise the aspirations of Vision 2030.

Mr Chapfiwa said the city’s location along the Beitbridge-Victoria Falls corridor provided significant opportunities for trade, tourism and infrastructure development.

“Some of these initiatives could even cascade into other areas, like along the Victoria Falls Road. If we were to look at how we can help rehabilitate our Victoria Falls- Bulawayo road, national heritage sites and centenary parks.

“As well as our corridor into Matobo National Park and Khami Ruins, while also tapping into our vast sunlight, which has got the best balance when it comes to heat and cooling for solar energy plants. So, those are some of the key priority areas that I would be looking at from the International Trade Council position, and also trying to advice through the Bulawayo Business Forum.”

Bulawayo Business Forum chairman Mr Heresy Herry said there was strong interest from diaspora communities in forging business and cultural partnerships with the city.

“I’m sure you may have seen the importance of engagement with the diaspora community as what was exhibited by Ghana where they partnered with the diaspora community. They offered a red carpet to them and they were able to raise about US$2 billion worth of capital, which came from across the board. So, us as the Bulawayo Business Forum, the way forward now is we shall be inviting the diaspora community to come through,” he said.

Mr Herry said the city was planning an investment conference that would provide a platform for diaspora investors to explore opportunities available in Bulawayo and Zimbabwe.

“There shall be an investment conference, which shall be held by the city, so it is our hope and aspiration that they shall have representation.”

He said the focus was not only on Zimbabweans living abroad, but also on the broader diaspora community, including African-Americans interested in investment opportunities on the continent.

According to Mr Herry, the investment platform would allow potential investors to assess opportunities across different sectors and identify projects that align with their interests.

“I think essentially the way forward is that they shall be coming for the investment conference. We shall send them a formal invite and then further to that we will then see what opportunities can come through.”

Mr Herry said Bulawayo’s rich heritage, industrial history and strategic location provided a strong foundation for investment-led growth.

He noted that the city is home to two World Heritage sites that remain largely untapped from an investment and tourism perspective.

He also highlighted opportunities in engineering, steel fabrication, infrastructure development and agriculture, sectors long associated with Bulawayo’s economy and which could play a key role in the city’s economic revival.