Zimbabwe’s investment promotion agency has launched a new system that gives investors a direct line to resolve problems and requires government agencies to respond faster to investor grievances.
The Zimbabwe Investment and Development Agency (ZIDA) says the Grievance Response Mechanism (IGRM) is designed to “address grievances arising directly from a Government Ministry, Agency or Department action and/or policy changes that may negatively impact an existing investment project.”
Investors lodge a grievance online, ZIDA reviews it, engages the relevant government agency, and facilitates a resolution.
Ministries are expected to respond within five days. “This ensures that each party is held accountable for providing timely feedback on the grievance,” ZIDA says.
Investors have often complained about the impact of permit delays or contract disputes, which often stall projects.
The IGRM gives investors a channel to flag such issues early, helping prevent “minor issues from escalating into significant legal disputes that lead to operational disruptions and financial losses”, ZIDA says.
It’s all part of what ZIDA calls a “transparent and efficient grievance resolution process… aligned with international best practice.”
Says ZIDA: “A reliable system in place to address concerns encourages both current and potential investors to commit resources, being confident in the stability and fairness of the investment environment.”
The IGRM builds on ZIDA’s mandate to smoothen government processes for investors, who are often bogged down in government red tape.
ZIDA is designed to be a one-stop-shop operation, which helps investors avoid going to multiple government agencies to get approvals for projects.
ZIDA provides investment analysis, company registration, licensing, tax registration, and facilitation of key business establishment services.
NewZWire
