Harare, Zimbabwe, May 11, 2021— The Zimbabwe Investment and Development Agency (ZIDA), with technical support from the International Finance Corporation (IFC), is launching an Investor Confidence Survey to understand the opportunities to increase investment in Zimbabwe.
The survey seeks to capture the views of investors on Zimbabwe’s business environment, the policy and regulatory framework for Foreign Direct Investment (FDI), the quality and scope of services offered to investors by ZIDA and related government agencies, as well as any specific challenges that constrain investment. ZIDA plans to use the survey findings to inform policy dialogue around improving Zimbabwe’s ability to attract and retain investment.
“This survey will deepen Zimbabwe’s efforts to change the narrative around the country as an investment destination,” said Douglas Munatsi, CEO of ZIDA.
IFC technical assistance will help ZIDA develop and administer the survey. The survey will be followed by a planned multi-year advisory support program with ZIDA to identify and support policy, institutional, legal and regulatory reforms to help attract Foreign Direct Investment (FDI) into Zimbabwe.
“Firsthand information from current and potential investors about the business and investment environment in Zimbabwe is the best tool to unlock opportunities for private sector growth. IFC is ready to support ZIDA in this very timely endeavor,” said Adamou Labara, IFC’s Country Manager for Eswatini, Lesotho, Namibia, South Africa and Zimbabwe.
Officially launched in December 2020, ZIDA was established through the Zimbabwe Investment and Development Agency Act to promote, facilitate, and protect investments in Zimbabwe.
This support to ZIDA is intended to enhance ZIDA’s capacity to advocate for a policy and regulatory framework that improves Zimbabwe’s ability to attract and retain investment. Although the WBG and IFC are unable to develop lending operations or provide financing respectively to the public and private sector, there is a commitment across the World Bank Group to support development outcomes by providing technical assistance and advice, “ said Mukami Kariuki, World Bank Country Manager, Zimbabwe
The survey will be administered by Zimbabwean survey firm AdvisoryK and survey responses will be anonymous. Respondents should note that the questionnaire will not solicit personal financial information.