ONGOING tourism investments projects in Victoria Falls estimated at around US$200 million have raised hope in the ability of the sector to make positive contributions to the growth of country’s economy.
The tourism sector has been the biggest beneficiary of the ‘Zimbabwe Is Open for Business’ Drive with many investors exploring investment opportunities under the Victoria Falls Special Economic Zone.
The increased investments have excited government which has since pledged more incentives for those willing to invest in the sector.
In his address during the official opening of the multi-million dollar Mbano Manor Hotel, President Emmerson Mnangagwa said the government will continue to create a conducive environment for investors in line with the ease of doing business reforms.
“It is encouraging to note that despite the COVID-19 pandemic having had a negative impact on other economic sectors, investments in the tourism sector here in Victoria Falls are progressing well,” he said.
Mbano Manor Hotel Director, Dr Mati Nyazema expressed confidence that Victoria Falls will lead the tourism recovery and challenged other local entrepreneurs to invest in the sector.
“I hope that my journey serves as an inspiration to younger Zimbabweans to follow their dream, and that my journey demonstrates that black entrepreneurs and black women can develop and run a large tourism business,” said Mbano.
The multi-million dollar project is part of the private sector’s response to the plea by the government for additional rooms in Victoria Falls to avert room deficit.
Zimbabwe is projecting a surge in tourism investments from US$229 million in 2020 to US$600 million in 2025 on the backdrop of increased public sector investments and private sector initiatives.