Zimbabwe President Emmerson Mnangagwa has joined forces with Shaji Ul Mulk, Chairman and Founder of T Ten Global Sports, to elevate Zimbabwe's global standing and attract substantial foreign investment. This strategic alliance with T Ten Global Sports is in line with President Mnangagwa's vision of positioning Zimbabwe as 'Open for Business' and utilizing international platforms to underscore the country's robust economic potential.
With a television and OTT platform viewership surpassing 500 million and a social media reach of 2.5 billion across 100 countries, T Ten's cricket leagues provide Zimbabwe with a unique opportunity to promote its investment opportunities. The partnership will be formally unveiled at the 2024 Abu Dhabi T10 in Abu Dhabi, positioning Zimbabwe as a top destination for international business.
Through its collaboration with T Ten Global, Zimbabwe will gain visibility across the influential markets of the five cricket leagues (Abu Dhabi T10, US Masters T10, Lanka T10 Super League, African T10, Sri Lanka T10). This will enable the nation to connect with audiences in the Middle East and Asia, as well as engage North America's business leaders. The partnership also aids Zimbabwe in bolstering its presence in South Asia's dynamic markets and highlighting its leadership in Africa.
President Mnangagwa commented on the partnership, stating, 'Zimbabwe is open for business, and this collaboration with T Ten Global Sports underscores our dedication to engaging with the global community. Through T Ten's extensive reach, we will present Zimbabwe as a thriving hub for investment and innovation. This partnership marks a pivotal step in enhancing our nation's global reputation and economic prospects.'
Zimbabwe has seen significant economic growth in recent years. In 2023, the country's GDP reached $26.54 billion, reflecting a 4.5% increase from the previous year. The nation has also attracted substantial investments across various sectors, including the beverage industry, mining, real estate, infrastructure, renewable energy, and agricultural modernization.
Varun Beverages, PepsiCo's bottling partner, has invested over $40 million, creating jobs and strengthening the manufacturing sector. Zimbabwe is rich in mineral resources such as lithium, platinum, gold, and diamonds. Investments from companies like Zhejiang Huayou Cobalt and Prospect Resources are positioning Zimbabwe as a key player in the global green energy sector.
Mulk International, a UAE-based conglomerate, is developing the $500 million Zim Cyber City in Mount Hampden, Harare. This cutting-edge mixed-use development aims to revolutionize Zimbabwe's real estate sector by offering premium residential and commercial spaces. International collaborations are also underway to harness Zimbabwe's abundant solar and hydropower resources, promoting sustainable energy solutions and reducing dependence on non-renewable sources.
Shaji Ul Mulk, Chairman of T Ten Global Sports, expressed, 'We are honored to partner with Zimbabwe to realize this transformative vision. Through T Ten's five global leagues, we will ensure that Zimbabwe's message reaches key markets, connecting the nation with influential investors and creating new avenues for growth and collaboration.'
There are numerous investment opportunities in Zimbabwe across various sectors. The country boasts vast reserves of lithium, platinum, gold, nickel, and rare earth minerals, crucial for the global renewable energy and technology industries. With a growing industrial base and favorable policies, Zimbabwe offers opportunities in food processing, automotive assembly, and consumer goods production.
Zimbabwe's abundant sunshine and river systems make it ideal for large-scale solar and hydropower projects, attracting global renewable energy investors. Rapid urbanization and modernization efforts create lucrative opportunities in construction, transportation, and logistics.
Paul Tungwarara, special presidential investment adviser for the UAE, noted, 'This partnership reflects Zimbabwe's forward-thinking strategy for international engagement. By leveraging T Ten's global media presence, we will amplify the message that Zimbabwe is ready for business and global partnerships. It has been an honor to contribute to this historic initiative.'
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