Zimbabwe signs MOU with India

HARARE - Zimbabwe has signed a memorandum of understanding (MoU) with the Indian government aimed at upgrading the Indo-Zim technology Centre in Harare.

The Indo-Zimbabwe project was established in 2006 following an agreement between the two governments, which included a grant of $5 million from India to support the development of the SME sector in Zimbabwe.

The MoU, which was signed on Wednesday, will see Zimbabwe receiving $2,92 million in funding to cover supply of additional machinery and equipment, training of Zimbabwean personnel and repair and maintenance of the old and new machinery at the Indo-Zim technology centre, for a period of three years.

The Indo-Zim Technology Centre — located at the Harare Institute of Technology —  was set up, along with 17 other centres around the country, following the original agreement between the two governments in 2006.

HMT International was the Indian implementing agency for the project which was completed in 2014.

Speaking at the MoU signing ceremony, Indian ambassador Rungsung Masakui, said a study showed that the Indo-Zim project had been a success. He said based on the results of the study, the two governments saw it fit to arrange for the extension of the project.

“The project has played a positive role and has had an impact in creating jobs and enhancing the capacity and capability of the SME sector.

“The two governments have therefore agreed to further improve the project by upgrading technology and injecting machines of the latest technology to help meet the requirements in developing the SME sector,” Masakui said.

Industry minister Mike Bimha said the Zimbabwean government is grateful to the government of India for its support, he added that his ministry looks forward to the upgrade of the technology centre.

“The government of Zimbabwe is very grateful to the people and government of India for the support they continue to render towards SME development in Zimbabwe.

“The ministry looks forward to partner HMT India to upgrade technology at the Indo-Zimbabwe Technology Centres so that the country can continue to be at the fore front of technology development in the region,” Bimha said at the MoU signing ceremony.

The project is meant to promote access to technology by MSMEs in the fields of toll and Die, Computer Numerical Control and Computer Aided Manufacturing, plastic products manufacturing as well as carpentry and metal fabrication.

— The Financial Gazette


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