Prominent real estate billionaire Dr. Phillip Chiyangwa has called on the President Emmerson Dambudzo Mnangagwa led government to take inspiration from the “Traoré FACTOR ,” urging a shift toward faster, more decisive implementation of developmental projects.
He highlighted the need to minimize excessive procedures, paperwork, and tender delays, stating that streamlined execution is essential for accelerating national progress and delivering results on the ground.
Chiyangwa a ZANU PF members and former legislator is the founder and chairman of Native Investments Africa Group.
The company has various subsidiaries in the property, manufacturing, construction, hospitality, travel and tourism industries.
Such companies include ZECO Holdings, Pinnacle Holdings and Tsivo Holdings.
Ibrahim Traoré born 14 March 1988) is a Burkinabé military officer and politician who has served as the interim President of Burkina Faso since 2022.
Traoré took control of Burkina Faso in September 2022, ousting interim president Paul-Henri Sandaogo Damiba in a coup d’état aged 37, he is currently the second-youngest head of state in the world.
During his tenure, Traoré has sought to distance the country from its former colonial power, France, and played an instrumental role in founding the Alliance of Sahel States.
He has set his country on a development path.
In November 2023, Burkina Faso’s Council of Ministers approved the construction of the country’s first gold refinery.
This marked a significant development in Burkina Faso’s gold sector, aiming to capitalize on the nation’s growing gold mining industry.
Traoré seeks to gain more control over its gold resources by refining gold domestically rather than exporting unrefined materials. This would increase government revenue and economic benefits from the gold sector.
The refinery is set to create 100 new jobs and 5000 new indirect jobs, with the refinery producing roughly 400 kg of gold daily.
In February 2024, Traoré ordered the suspension of the issuance of export permits for small-scale private gold production, a move reportedly aimed at tackling illicit trade—which consists of smuggling gold abroad, avoiding taxes and regulations—and cleaning up the artisanal gold sector.
This suspension aims to crack down on such activities and ensure that exported gold is properly documented and contributes to government revenue.
The government hopes this suspension will establish a more formal and accountable system for exporting small-scale produced gold.
Zwnews
