UAE investors eye Zimbabwe’s agriculture sector

Sunday Mail | 18 August 2024

UAE investors eye Zimbabwe’s agriculture sector

Buyers from the United Arab Emirates (UAE) have expressed interest in investing in the local agriculture sector, taking advantage of favourable climate, vast tracts of fertile land and the availability of numerous water bodies.

This comes as the Zimbabwe Investment and Development Agency (ZIDA) is ramping up efforts to grow investment in the local agriculture sector, particularly horticulture, which is the fifth-largest export earner in Zimbabwe.

Blueberry production in particular has been the dominant area in horticulture lately. The land area under blueberry cultivation increased to about 506 hectares (ha) in 2023 from 328ha before.

In addition, there has been lucrative production in coffee and macadamia nuts.

The UAE investors are keen on venturing into the production of these crops, mainly blueberries, locally.

Zimbabwe has the capacity to produce this range of horticultural crops, which are some of the top export earners.

The country has a competitive advantage in the agriculture sector. It is part of ZIDA’s scope to encourage investment in the sector and downstream industries.

In general, the local agriculture sector contributes about 12 percent to the country’s Gross Domestic Product.

Zimbabwe has about 33 million hectares of arable land that can be used to accommodate the UAE investors.

The weather is conducive, with about 3 000 hours of sunshine throughout the year.

Additionally, Zimbabwe is the most dammed country in Africa, with 10 000 small, medium and large water bodies. These have the potential to irrigate over 2 million hectares.

Besides being directly involved in agricultural production, investors can venture into downstream industries that include fertiliser production; logistics and agri-tech ventures that encompass the manufacturing and assembly of tractors and combine harvesters.

Some investment opportunities have lately been identified in the Goromonzi Agro-Industrial Special Economic Zone and the Sunrise Citrus Project.

The Sunrise Citrus Project is owned by Beitbridge Juicing, which was acquired by Schweppes. The project requires a decent equity of about US$35 million.

On the other hand, the Goromonzi Agro-Industrial Special Economic Zone intends to develop a 1 250 plus hectare agro-industrial park that will focus on high-tech farming and horticulture. A feasibility study has already been conducted.

Speaking on the sidelines of the Zimbabwe-UAE Business Forum held recently, Dusk and Dawn purchase manager Mr Amith Nair said it would be lucrative if they produce some of the products on their own.

Dusk and Dawn trades in vegetables and fruits, particularly the import and re-export of fresh produce.

“We are looking for opportunities to do (grow) fresh produce locally. We are a re-exporter of fresh farm produce and we import from different countries to UAE. We would want to export to other Gulf countries, and we are looking to produce avocados and citrus, but blueberries are on top of them all.

“Given a chance to do agriculture here, we are ready to produce for our consumption and re-export. We are hopeful to work with locals into the future,” said Mr Nair.

ZIDA investment promotion manager Mr Tapindwa Chipunza said Zimbabwe has a competitive advantage in agriculture and it is part of the agency’s scope to encourage investment in the sector and downstream industries.

“People feed every day, people eat every day, so there is so much scope in growing in the sector. Locally, it is predicted that by 2025, this sector will have a projected investment value of US$8,2 billion.

“We are proposing that you put your money in the agriculture sector in Zimbabwe, where the climate is capable, the water is available, and the skill is available for you to produce more crops,” said Mr Chipunza.

“I got a chance to visit the UAE at some point, and we saw how much produce is coming from Africa and Zimbabwe stands ready to support if you want to venture into agriculture locally. Come and actually do the farming here in Zimbabwe.”

This comes as trade between Zimbabwe and the UAE continues on a growth trajectory.

Statistics show that trade between the two countries has been growing exponentially over the past few years.

Exports to the UAE have increased to US$1,9 billion in 2023, from US$96 million in 2014.

Zimbabwe’s imports from the UAE include fertilisers, electrical equipment and gadgets, clothing and textiles, pharmaceuticals, aircraft and spacecraft equipment, mineral fuels and plastics. The exponential growth in trade has seen the UAE becoming Zimbabwe’s second-largest trading partner.

Notably, though, most of the shipments are still mainly composed of primary products such as raw minerals and semi-processed products. According to the Government, efforts should be made to promote the export of value-added goods, particularly new products that Zimbabwe has a comparative advantage in.

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