The United States has expressed a renewed commitment to enhancing the investment climate in Zimbabwe, aiming to create broader economic opportunities and strengthen ties between the two nations. U.S. Ambassador to Zimbabwe, Pamela Tremont, emphasized that the U.S. continues to support Zimbabwe’s journey towards a more prosperous, just, and healthy society. The ambassador emphasized that the U.S. is keen on collaborating with Zimbabwe to foster an environment that attracts investors and drives economic growth.
Since Zimbabwe gained independence, the U.S. has played a significant role in providing humanitarian, health, and development assistance. According to Ambassador Tremont, the U.S. has delivered a total of $5 billion in aid to Zimbabwe over the years. Notably, over $1 billion of this aid has been allocated in just the past three years, reflecting the continued commitment of the U.S. to supporting Zimbabwe’s development. In 2024 alone, the U.S. provided $62 million to help Zimbabwe counter the effects of an ongoing drought. This funding is aimed not only at addressing immediate food insecurity but also at implementing long-term strategies to enhance agricultural practices and build community resilience.
One of the key areas where U.S. assistance has made a tangible impact is in agriculture, particularly through demining programs. These programs have made over 3,000 acres of land available for cultivation, land that had previously been unsafe for farming due to leftover mines from Zimbabwe’s liberation struggle. By clearing these lands, the U.S. has helped return valuable agricultural areas to local farmers, enabling communities to cultivate crops and raise livestock safely once again.
Ambassador Tremont highlighted that the U.S. views broad-based economic prosperity as impossible without the foundation of strong democratic institutions, good public health, and regional security. These elements, she stated, are crucial for Zimbabweans to shape their own future and achieve sustainable growth. The U.S. commitment to these principles is evident in its ongoing support for Zimbabwe’s efforts to strengthen its democratic institutions and improve public health outcomes.
Looking ahead, the U.S. is interested in deepening its relationship with Zimbabwe to advance mutual interests. Ambassador Tremont expressed optimism about the potential for collaboration in improving the investment climate in Zimbabwe. The U.S. sees this as a key step in expanding economic opportunities for Zimbabwean people and communities. By fostering stronger business linkages and attracting investors, the U.S. hopes to help Zimbabwe tap into its educated labour force and realize its long-term growth potential.
However, for Zimbabwe to attract and retain investors, it is crucial for the country to present itself as a reliable business partner. Ambassador Tremont emphasized the importance of combating corruption, ensuring regulatory certainty, and maintaining consistency in monetary and tax policies. These factors, she noted, are essential for creating an environment where investors can have confidence in the stability and fairness of doing business in Zimbabwe.
Zimbabwe’s rich history, abundant natural resources, and human talent position it as a potential leader in southern Africa. The U.S. recognizes Zimbabwe’s promise as a vibrant participant in global conversations and believes that with the right policies and reforms, the country’s potential is limitless. Ambassador Tremont reiterated the U.S.’s readiness to work with Zimbabwe to deepen their partnership and advance their mutual interests.
Despite the optimism, challenges remain. The U.S. State Department’s Bureau of Economic and Business Affairs, in its 2024 Zimbabwe Investment Climate report, identified several issues that continue to hinder business facilitation in the country. The report highlighted policy inconsistency, corruption, and administrative delays and costs as significant barriers to investment. While the Zimbabwe Investment Development Agency (ZIDA) has issued hundreds of licenses, these persistent challenges have kept investment levels below those of some of Zimbabwe’s regional peers.
These barriers underscore the need for Zimbabwe to implement reforms that will create a more attractive and stable environment for investors. By addressing these issues, Zimbabwe can better position itself to compete on the regional and global stage, attracting the investment needed to drive economic growth and development.
