Top private sector executives to head ZIDA

United Refineries MD Busisa Moyo

Top executives from the private sector have been appointed by President Mnangagwa to head the new streamlined Zimbabwe Investment Development Agency, which has the remit to ensure that the Government’s policy on the ease of doing business is implemented in the new one-stop environment.

Mr Busisa Moyo, the CEO of United Refineries, will chair the board while Mr Douglas Tawanda Munatsi, a top private sector investment executive, moves in as the ZIDA chief executive officer.

Other members of the board are Dr Tobias Takavarasha, Mr Kenneth Richard Rupert Schofield, Dr Sylvia Janet Utete-Masango, Mrs Sithandile Ngwenya, Mrs Tariro Ndebele, Engineer Michael James Tumbare, Mrs Nancy Samuriwo and Mr Moosa Hanif Allana. All appointments are from April 1, the Chief Secretary to the President and Cabinet Dr Misheck Sibanda announced last night.

Mr Moyo runs the large United Refineries as CEO and is a seasoned business executive, industrialist and entrepreneur. He holds a Bachelor of Accounting Science degree from the university of South Africa and Global Executive MBA from IESE business school (Spain).

Mr Munatsi has a finance and investment background, holding a Master of Business Administration (Finance) degree from the American University in Washington DC and is an associate of the Bankers Association of Zimbabwe. He is co-founder and partner of BDF Capital Partners Limited.

President Mnangagwa signed the ZIDA Act into law last month with the new agency replacing a raft of previous agencies to ensure that all investments processes will be held under one roof.

The new law repealed the Zimbabwe Investment Authority Act, the Joint Venture Act and the Special Economic Zones Act, resulting in the dissolution of the Zimbabwe Investment Authority, the Joint Venture Unit and the Zimbabwe Special Economic Zones Authority.

ZIDA is tasked with highlighting the reforms being carried out by Government and guarantees provided in the ZIDA Act that include non-expropriation of investments, fair and equitable treatment of both domestic and foreign investors, facility to transfer funds without restrictions or delay and transparency in the provision of investment information.

It is set to attract foreign direct investment into the country and be able to work with major private investors around the world, something where the private sector background of its top tier will no doubt be helpful. – Herald