More than 11 000 new companies have been licenced to operate in Zimbabwe since January 2018 almost a double the number recorded in the same period last year.

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The development signals renewed business confidence in Zimbabwe since President Emmerson Mnangagwa assumed the mantle in November 2017.

President Mnangagwa subsequently won the July 2018 Presidential elections on the back of a campaign to turn Zimbabwe into a middle-income economy by 2030.

Principal examiner (companies section) at the Department of Deeds, Companies and Intellectual Property, Mrs Martha Chakanyuka, told The Sunday Mail: “By this time last year we had registered 6 335 companies and by end of year it was 9 518, which is a huge gap compared to this year where, so far, companies which registered from January to this month are 11 337.

“Most of the companies that registered are private firms and there are also public companies as well as foreign companies.”

President Mnangagwa’s rise has restored confidence in the domestic and international business community, as seen by the expansion of existing companies and opening of new ventures.

The President is steering through a “Zimbabwe is Open for Business” agenda that has included streamlining laws to facilitate ease of doing business.

The Office of President and Cabinet is spearheading an all-stakeholder process for a national branding strategy that is aimed at informing the world on business propsects in Zimbabwe.

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