Douglas Tawanda Munatsi

HARARE – President Emmerson Mnangagwa has appointed Douglas Tawanda Munatsi as the Chief Executive Officer of the newly established Zimbabwe Investment Development Agency (ZIDA), which is mandated to ensure that the Government’s policy on the ease of doing business is implemented in the new one-stop environment.

In a statement, according to State media, Chief secretary to the president and cabinet Dr Misheck Sibanda announced the appointment of Douglas Munatsi.

“The Chief Secretary to the President and Cabinet is pleased to announce that His Excellency the president has, in terms of section 9 (10 of the Zimbabwe Investment and Development Agency (ZIDA) Act appointed Mr Douglas Tawanda Munatsi as Chief Executive Officer (CEO) of Zimbabwe Investment and Development Agency (ZIDA),” he said.

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.

The President also appointed the advisory board of ZIDA to be chaired Busisa Moyo.

Moyo runs United Refineries as Chief Executive Officer 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).

“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,” said Dr Misheck Sibanda in a statement last night.

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The new law repealed the Zimbabwe Investment Authority Act, the Joint Venture Act and the Special Economic Zones Act, resulting in the dissolution of the Zimbabwe Investment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