Chantelle Muzanenhamo.
President Emerson Mnangagwa has urged investors from across the globe to take advantage of the country’s conducive investment climate created by the Second Republic and invest in the Southern African nation which is endowed with natural resources.
He was speaking at the ground breaking ceremony of the Titan New Energy 720MW thermal energy plant in Hwange, a project expected to play a crucial role in addressing the country’s ongoing energy challenges while supporting broader regional initiatives for energy efficiency and sufficiency.
“I urge investors to take advantage of the available endowments and contribute to the improvement of people’s livelihoods,” he said, reinforcing the theme of public-private partnerships as a pathway to national development.
The President reiterated the call for all current and would be investors to prioritise human centered development in their investments.
“I want to also encourage our investors to fully embrace all Environmental, Social and Governance considerations in their projects, ensuring a holistic approach to development.”
Highlighting the plant’s potential to bolster the nation’s energy supply and contribute to economic growth the President the new investment is key for the country’s development agenda.
“This marks another milestone in our country’s journey towards modernization, industrialization, and economic development,” President Mnangagwa stated.
He emphasized the importance of electricity as the lifeblood of industrialization, asserting its critical role in vital sectors such as mining, agriculture, and manufacturing.
The President’s remark come amid growing concerns over Zimbabwe’s energy shortcomings, which have hampered productivity and economic stability.
Mnangagwa further called on regional leaders to not only enhance generation capabilities but also diversify their energy sources by investing in renewable energy initiatives.
Highlighting the government’s pro-investment stance, President Mnangagwa revealed that the Second Republic has instituted measures to create a conducive environment for investors.
.The Titan New Energy project which is being done in partnership with ZESA, includes a US$1 billion investment in the Hwange power plant as well as a 200MW solar facility in Gweru, symbolizing a significant stride toward energy self-sufficiency for a country that is currently grappling with an acute power shortage.