field for investment 1983/84 W.ÏM let's build . from its foundations of a strong economy. Brick by brick, month by month, this country is becoming ever stronger. The firm footings of con¬ fidence and expansion are already well and truly laid. The strength of any construction is its weakest brick — and there will be no such thing in our future development. Pick up some of these bricks for yourself! Taxation. One of the lowestand most stable systems in the world. Investment. The 'ground floor' of the new Zimbabwe structure. Many and varied opportunities for development and expansion in all sectors. Production. Commerce and industry, agriculture, etc. With their individual and outstanding opportunities. Amenities. Education, health services, housing, etc. — and the best climate in the world in which to build your future in Zimbabwe. Department of Information, P.O. Box 8150, Causeway. Harare. Zimbabwe. Tel. 703891 Telex 4142 ZW A FIELD FOR INVESTMENT 1983/84 PUBLISHED ANNUALLY IN THE INTERESTS OF ECONOMIC PROGRESS — SELECTIVE WORLD DISTRIBUTION CONTENTS page Page Facts about Zimbabwe 2 Other institutions 17 Vital statistics 3 Private sector 21 Agriculture 4 Transport 22 Mining 7 Energy resources 25 Manufacturing 8 Commercial centres 28 Exports 10 Tourism 40 Banking and finance 11 Rural areas 39 Statistics are taken from official sources and the Economic Survey of Zimbabwe 1980 produced by the Ministry of Finance. Designed, compiled and published by Thomson Publications Zimbabwe, P.O. Box 1683, Harare Printed by Mardon Printers (Pvt.) Ltd., Bulawayo PARTICIPANTS Page Page Air Zimbabwe 26 Anglo American Corporation in Zimbabwe 13 Information, Department of IFC Barclays Bank 27 Merchant Bank of Central Africa 16 Electricity Supply Commission 34 Oxyco 38 Founders Building Society 10 Standard Chartered Bank 14 Grindlays Bank IBC Zimbabwe Banking Corporation 28 FACTS ABOUT ZIMBABWE • ZIMBABWE is situated in south central Africa north of the Tropic of Capricorn. • It has no direct access to the sea except through the Republic of South Africa to the south and Mozambique to the east. • It is separated from the Republic of Zambia by the Zambezi River and to the west is the Republic of Botswana. • It has an area of 390 245 square km—about three times the size of England. Four fifths of it is above 600 m and less than a twentieth is 1 500m above sea level, giving a healthy, pleasant climate. • Population: The provisional figure recorded from the official 1982 census was 7 539 326 with a density of approximately 20 per square km. • It has good summer rainfall, ample water and electricity supplies, considerable REPUBLIC OF SOUTH AFRICA and well diversified mineral deposits and basic requirements for a viable agricultural industry, which provides more than its basic needs. • Transport and communications are well developed and social and administrative services are efficient and comprehensive. • Following the democratic election in April 1980, Zimbabwe was afforded full recognition by the international community and became the 153rd member of the United Nations in August 1980. • Zimbabwe is also a member of the nine-nation Southern African Development Co-ordination Conference (SADCC), the Organisation of African Unity (OAU) Scale of Kilometres and the Central and Southern African Preferential Trading Area (PTA) which 0 40 came into M 120 ISO 200 240 operation on January 1, 1983. 1 I I I I 1 I PAGE 2 A FIELD FOR INVESTMENT NATIONAL INCOME $ million STATISTICS Item 1977 1978 1979 1980* 1981* Wages and salaries 1 248 1 333 1 502 1 881 2 346 Rent AT A GLANCE Imputed for owner-occupied dwellings 24 22 21 19 21 Central and local government 21 22 23 24 26 Total 45 44 43 43 47 Gross operating profit SUMMARY OF EXTERNAL TRADE Unincorporated enterprises 239 221 256 382 504 Companies (non-financial) 479 510 723 968 1 178 $ million Financial institutions 49 54 65 87 104 Public corporations (non-financial) 72 122 84 47 88 Domestic Exports Re¬ Total Total Visible Central and local government—enterprises (inc. gold) exports exports imports Balance (non-financial) 20 21 17 17 19 Less imputed banking service charges —65 —69 —81 —109 -139 1965 292,0 30,9 322,8 239,6 83,2 Total 794 859 1 063 1 392 1 754 1966 171,0 17,0 188,0 169,5 18,6 Gross domestic income (factor cost) 2 087 2 236 2 608 3 316 4 147 1967 176,3 12,1 188,4 187,1 1,3 Plus indirect taxes 223 238 262 315 501 1968 183,8 8,5 192,3 207,1 —14,8 Less subsidies —94 —135 —90 —100 -120 1969 224,0 6,8 230,8 199,5 31,3 Gross domestic income (market prices) 2 216 2 339 2 780 3 531 4 528 Less net investment income paid abroad —41 —40 —53 —41 -110 1970 252,7 6,1 258,7 235,0 23,8 Gross national income (market prices) 2 169 2 299 2 727 3 484 4 418 1971 283,8 6,5 290,2 282,5 7,8 1972 342,9 6,2 349,1 274,7 74,4 Gross national income at 1965 prices. 1 319 1 221 1 183 1 247 1 422 1973 382,8 6,3 389,1 308,6 80,5 1974 524,6 6,5 531,2 438,3 92,8 * The 1980 and 1981 figures are provisional estimates. 1975 523,0 8,2 531,3 461,9 69,4 1976 552,8 4,6 557,4 382,7 174,7 GROSS DOMESTIC PRODUCT AT FACTOR COST BY 1977 : 546,5 4,4 550,8 388,1 162,7 INDUSTRY OF ORIGIN 1978 604,8 4,6 609,3 403,7 205,6 $ million 1979 712,0 3,7 715,7 549,3 166,4 Item 1977 1978 1979 1980 1981 1980 902,7 6,5 909,2 809,4 99,8 1981 964,4 7,3 971,7 1 017,7 —46,0 Agriculture and forestry 334 305 316 462 738 1982 947,7 20,7 968,4 1 081,8 —113,4 Mining and quarrying 149 158 191 267 217 Manufacturing 460 514 679 844 1 098 1982 January 61,1 0,4 61,5 82,5 —21,0 Electricity and water 56 64 67 75 88 February 75,7 0,3 76,0 112,2 —36,2 Construction 84 68 78 84 126 March 70,2 0,5 70,7 81,7 — 11,0 Financial and insurance 102 109 126 161 189 Real estate 47 45 44 43 47 April 69,5 0,6 70,1 83,9 —13,8 Distribution, hotels and restaurants 242 296 367 479 620 May 57,8 0,7 58,5 97,0 —38,5 Transport and communications 184 191 209 230 262 June 92,2 1,2 93,4 79,4 14,0 Public administration 204 241 266 287 352 Education 76 86 98 169 253 July 78,1 2,0 80,1 119,0 —38,9 Health 49 54 63 73 63 August 92,6 1,1 93,7 95,6 —1,9 Domestic services 52 54 53 65 74 September 82,6 1,3 83,9 91,8 —7,9 Other services, n.e.s 113 120 132 185 159 Less —65 —69 —81 —108 —139 October 10,6 97,2 83,0 14,2 imputing banking service charges . 86,6 November 82,4 1,1 83,5 74,9 8,6 Gross domestic product 2 087 2 236 2 608 3 316 4 147 December 98,9 0,9 99,8 80,8 19,0 A FIELD FOR INVESTMENT PAGE 3 Agriculture THE recovery from recession in the western world should stimulate demand for TOBACCO Zimbabwe's agricultural products. Virginia Despite a drought which has been the worst in living memory, Zimbabwe has The 1983 continued to be self-sufficient in its staple diet of maize. Although this year's deliveries crop of 95m kg is likely to achieve an average price of +187 c/kg. Last year for the same fell short of domestic consumption by some 600 000 tonnes, sufficient stocks were in proportion sold the average was 168 c/kg with weekly averages running at -P180 hand to meet requirements until the commencement of next year's intake. c/kg. Hectare intentions for 1983/84 season is 50 513 hectares which is 3 000 hectares Apart from grain producing areas, the beef industry in the southern and western areas above the of the country have been hardest hit by the drought resulting in high demand for slaughter 1982/83 intention. 1 192 growers have submitted tenders compared to 1 177 bookings. returns in 1982. The Zimbabwe Tobacco Association, the growers' organisation, has announced a Tobacco crop target of 110 million kg for 1983/84 and embarked on a programme— has proved that it is the most drought-resistant cash crop and despite poorer with research and trade support—to ensure an internationally marketable quality crop. quality, reasonable prices and good weight will result in excess of $200m being realised from tobacco exports. Burley The Air-Cured Tobacco Association is concerned at a possible loss of growers intending to switch to flue-cured production. Although the Burley average price is only 146 c/kg this year, the 1983/84 guaranteed prices will remain unchanged which with normal quality production would enable Burley growers to achieve averages of 200 c/kg next year. COTTON Cotton is a major crop for the country, grown by about 50 000 active commercial and communal farmers. After tobacco, the crop is the second largest earner of foreign currency in agriculture—$85 million expected in 1983.