HARARE,— Multinational accounting firm KPMG has highlighted Zimbabwe’s significant economic potential, ranking it among the top ten Sub-Saharan African nations for future investments.
In its latest report, “Doing Deals in Sub-Saharan Africa,” KPMG revealed that six percent of survey respondents are optimistic about Zimbabwe’s investment prospects, placing the country 10th among more than 40 economies in the region.
South Africa emerged as the top-ranked nation for future project transactions. The survey identified the oil and gas sector as the leading attraction for investors, a trend mirrored in Zimbabwe where Invictus Energy, an Australian Stock Exchange-listed company, is exploring non-renewable resources in the Muzarabani area.
The consumer goods sector is the second most attractive for investors in the region, with Zimbabwe experiencing growth through the commissioning of retail and wholesale outlets, including new shopping malls.
Respondents also highlighted vast untapped resources across Sub-Saharan Africa, fueling increased mining projects. Zimbabwe is benefitting from this trend, with expansions and new projects in Platinum Group Metals, Gold, Chrome, and Lithium mining.
Other sectors driving investor interest, as noted by KPMG, include mobile money services, industry and chemicals, technology, insurance, agriculture, infrastructure, asset management, and real estate.
With over 43 percent of respondents citing e-commerce as a future investment opportunity, Zimbabwean authorities are well-positioned to attract more business activities in this sector.
KPMG’s findings also indicate that Zimbabwe stands to gain from increased renewable energy projects, with investors planning over five billion US dollars worth of projects by 2050.
Market analysts suggest that the “Doing Business in Sub-Saharan Africa” survey results reflect the Zimbabwean government’s commitment to repositioning the country as a prime destination for global capital flows.
