European companies have expressed significant interest in investing in Zimbabwe’s burgeoning energy sector, particularly in renewable energy, following the inaugural EU-Zimbabwe Business Forum held recently in Harare. The forum, a landmark event in strengthening trade and investment ties, highlighted a clear appetite from European firms to contribute to Zimbabwe’s sustainable development under the ambit of the EU’s Global Gateway initiative.
The two-day forum, themed “Unlocking Trade and Investment under the Global Gateway Initiative,” attracted an impressive contingent of over 60 European Union companies. These delegates, representing 12 EU member states including France, Germany, Austria, Finland, Poland, the Netherlands, Italy, Sweden, Belgium, Spain, Portugal, and the Czech Republic, engaged in discussions exploring a wide array of trade and investment opportunities across various key sectors of the Zimbabwean economy.
A standout area of interest for the European delegation was Zimbabwe’s rapidly expanding renewable energy sector. Recognizing the country’s vast untapped potential in solar, hydro, and other clean energy sources, European investors signalled their keenness to provide much-needed financing and expertise to accelerate its growth. This aligns perfectly with the Global Gateway strategy, which aims to enhance the role of both the EU and Zimbabwean private sectors in developing sustainable infrastructure and fostering inclusive business growth.
The forum was a collaborative effort, meticulously organized by the EU Delegation to Zimbabwe in partnership with the Zimbabwe Investment and Development Agency (ZIDA), national trade promotion and development body Zimtrade, and the Confederation of Zimbabwe Industries (CZI). This strong local partnership underscores Zimbabwe’s commitment to creating an enabling environment for foreign investment.
The impressive turnout of 64 companies reflects a growing momentum in EU-Zimbabwe relations and a mutual dedication to driving inclusive and sustainable economic growth through enhanced trade and investment cooperation. The EU’s proactive engagement, combined with Zimbabwe’s clear vision for a green energy future, sets the stage for a progressive partnership. This timely platform successfully highlighted the immense potential for deeper business ties, promising to unlock new opportunities for growth and cooperation that will benefit both European investors and the Zimbabwean economy for years to come.