ZIDA licences 55 local , foreign investors

By Thobekile Khumalo

Zimbabwe Investment and Development Agency (ZIDA) has licensed 55 both local and foreign investors and calling in for more applications in developing a medicinal cannabis sector-based strategy to promote investment into the country.

ZIDA offers incentives to investors and makes Zimbabwe a safe investment destination. Its main aim is to unearth potential. The agency provides One Stop-Shop Investment Services Centre (OSISC) that facilitates, licences and operationalise investment.

According to the latest ZIDA newsletter, to date 55 local and foreign investors have been licensed.

“55 local and foreign investors have been licensed for medical cannabis production and the Ministry of Agriculture, Lands, Fisheries and Resettlement is working closely with ZIDA and MCAZ in ensuring that the quality of seed imported meet the regulatory requirements, while Tobacco Research Board (TRB) is currently testing and propagating 15 varieties of cannabis to monitor their suitability and potency,” reads the newsletter.

ZIDA through the OSISC is accepting applications into this sector.

” ZIDA is still accepting applications into this sector where investors are allowed to own 100 percent of their investment.

“The legislation allows for cultivation in green houses only and farming can be done on private lands with an ideal security system including real time smart technology. The security services are key on enforcement and monitoring and investors are allowed to use private security and should meet outlined minimal standard of security,” reads part of the newsletter.

Zambia, Malawi and Rwanda alongside Zimbabwe are countries in the region offering the same license with Zimbabwe providing the cheapest that is valid for 5 years.

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