ESG Compliance Crucial to Zimbabwe’s Investment Strategy, Says Senior Official
Environmental, Social, and Governance (ESG) compliance is central to Zimbabwe’s foreign direct investment strategy, with all investors required to adhere to ESG principles, according to Mr Willard Manungo, Deputy Chief Secretary to the President and Cabinet.
By Rudairo Mapuranga
Speaking at the Zimbabwe Investment Development Agency (ZIDA) stakeholder engagement forum held at the Rainbow Hotel on Tuesday, Manungo stressed that ESG issues are integral to the government’s efforts to achieve Zimbabwe’s Vision 2030.
“ESG concerns are at the heart of the government’s interventions and initiatives under the National Development Strategy No. 1. It is a requirement that we ensure, as we partner with investors, that the obligations arising from ESG commitments are fully observed. The Office of the President and Cabinet welcomes investor participation in the country,” Manungo stated.
He further emphasized that the government will enforce ESG policies consistently across all investors, regardless of their country of origin.
“We stress to all investors the need to observe labour practices and environmental sustainability. There are no exceptions in enforcing these requirements. If it comes to the government’s attention that these practices are being compromised, we are prepared to hold such investors accountable. Respect for labour laws and environmental sustainability is mandatory,” he said.
Manungo also assured stakeholders of President Mnangagwa’s commitment to ensuring that all foreign investors, including those from friendly nations like China, operate responsibly within Zimbabwe’s regulatory framework.
“President Mnangagwa has made it clear that while we welcome foreign investors, including those from friendly nations like China, they must operate responsibly, adhering to labour, safety, and environmental requirements. This ensures a win-win outcome for both the investors and Zimbabwe, through income generation, export potential, and safe working conditions for workers in line with our labour laws,” Manungo concluded.