Zimbabwe is set to embark on an ambitious project to develop a multibillion-dollar biotech city with the help of a consortium of diaspora professionals based in the United States. The project aims to boost the country’s biotechnology industry and prepare it for future challenges and opportunities.
The consortium, which consists of experts who have made significant contributions to the biotechnology sector in the US and elsewhere, signed a memorandum of understanding with the Zimbabwe Investment and Development Agency (ZIDA) on Saturday. The signing ceremony was attended by Zimbabwe’s President Emmerson Mnangagwa, who met with the consortium members in New York before the agreement was formalized.
According to Dr. Tawanda Gumbo, who signed the contract on behalf of the consortium, the group plans to acquire nearly 100 square kilometers of land to develop the biotech city. He said the project would commence as early as February 2024 and involve various aspects of biotechnology, such as health, agriculture, energy, environment, and education.
Dr. Gumbo, a retired physician and a former consultant for Wall Street, said that the consortium was inspired by the achievements of Zimbabweans in the biotechnology field and wanted to bring their expertise and technology back to their homeland. He also thanked President Mnangagwa for his support and commitment to the project.
Zimbabwe’s Finance and Investment Promotion Minister, Professor Mthuli Ncube, said that the project was part of a larger network of Zimbabweans living abroad who were keen to return and invest in their country. He said the project would help Zimbabwe achieve its vision of becoming an upper-middle-income economy by 2030.
He also said the project would enhance Zimbabwe’s preparedness for emergencies and challenges, especially in light of the recent pandemic that affected the world. He said the project would align with President Mnangagwa’s philosophy of “doing it on our own” and creating self-reliance and resilience.
The project has also attracted interest from other stakeholders, such as universities, research institutes, private companies, and international partners. The consortium said it would collaborate with local institutions and experts to ensure knowledge transfer and capacity building.
The biotech city project is expected to impact Zimbabwe’s economy, society, and environment positively. It is expected to create jobs, generate income, improve health care, enhance food security, promote innovation, and foster sustainable development.
The project also reflects Zimbabwe’s efforts to diversify its economy and embrace new technologies. The country has recently attracted investment from China in its lithium mining sector, which is seen as a strategic resource for electric vehicles and renewable energy.
The biotech city project is also a testament to the potential and talent of Zimbabweans in the diaspora, who have made remarkable achievements in various fields. The project shows their willingness and desire to contribute to their country’s development and prosperity.
Source: Business Insider Africa
