Zim signs 2000 MW solar energy deal with UAE investors

PRESIDENT Emmerson Mnangagwa’s trip to the United Arab Emirates (UAE) last week has yielded results, following a 2000 MW solar energy deal clinched with UAE investors and signed on Monday, Zim Morning Post has learnt.

Mnangagwa made the revelations in his address at the Zanu PF national youth convention held at Rimuka Stadium in Kadoma Wednesday.

He revealed that the project will be implemented in two phases.

This development serves as a potential panacea to the power crisis that the country is facing resulting in incessant power cuts.

Last week, Mnangagwa engaged cash-rich investors from UAE to exploit opportunities in mining, tourism and manufacturing when he attended the 5th Global Business Forum (GBF) on Africa 2019 in Dubai.

The GBF Africa encourages international revenue flows into Africa by engaging decision-makers on the global investment scene.

The GBF underscored the centrality of cross-border cooperation in supporting and scaling up Africa’s next phase of sustainable economic growth and development, and Zimbabwe has become an immediate beneficiary through the solar energy deal.

Finance and Economic Development minister Mthuli Ncube, re-enforced that government has enjoyed cordial relations with UAE in its policy of engagement and re-engagement.

“Zimbabwe has strong, long relations with the UAE. We received medical equipment from them and we continue to trade between the two countries and we hope that this will grow.

“This is fantastic for our engagement and re-engagement. The UAE is very critical for that purpose and we want to cement those relations,” said Ncube.