Farai Maguwu, the founding Director of the Centre for Natural Resource Governance (CNRG), says Zimbabwe needs visionary national leadership for the nation to benefit from its abundant natural resources.
Maguwu made the remarks following an announcement on Thursday morning by Mines and Mining Development Minister Zhemu Soda that Geo Associates and its partners Invictus Energy and One Gas Resources have successfully declared a gas discovery in Zimbabwe.
Invictus Energy also announced on the Australia Stock Exchange that four samples from the Upper Angwa section of its Mukuyu-2 exploration well confirm the presence of gas at the site.
Posting on X, Maguwu said Zimbabwe has exploited diamonds, chrome, gold, platinum and lithium for years but has nothing to show for it. He wrote:
Before we hype about gas, let us ask questions: What did we do wrong with diamonds, chrome, gold, platinum and now lithium? Why did these fail to transform our economy?
What shall we do differently this time? Otherwise, it is repeating the same things and expecting different outcomes.
Dubai, a favourite holiday destination for our leaders, discovered Oil in 1966. In 1969 it began exporting oil.
Instantly, its ruler Sheikh Rashid bin Saeed Al Maktoum, decreed that Oil profits would be used to transform the lives of his people. Today, the Emiratis are a prosperous people.
In 2023, they say Oil production now constitutes a tiny % of their economy. They have diversified to wholesale & retail trade, transport and logistics, banking and capital markets, manufacturing, real estate, tourism, construction etc. It all starts with leadership.
If a desert-like Dubai, with only oil, can transform itself so rapidly, think of a country like Zimbabwe with the best climate in Africa, the best arable land in SADC, many minerals found in large quantities, vast tourism potential where all big 5 are found in their natural habitat.
The possibilities in our country are limitless. But it starts with a vision and political will.
Scott Macmillian, Invictus’ Managing Director, on Thursday, said that “the discovery represents one of the most significant developments in the onshore Southern Africa oil and gas industry for decades”.
Soda said that the “discovery will have a positive impact on the economic and social development of Zimbabwe”.
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