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LocalNews

Start-up to unlock mining opportunities

A LOCAL company Zimvest Mining yesterday unveiled a new online marketplace connecting extractive industry players with investors and suppliers in a move seen transforming the mining industry.

The website, which has already garnered views from around the world, provides a platform where assets can be advertised for potential investors to view and make first contact.

It serves as an online marketplace for providers of goods and services to the mining sector to list their businesses and products for free.

The company said virtual stores expand the reach for businesses in the mining sector, allowing them to access new clients and unlock new opportunities.

“We want to make it easier for the entire mining community to function. Agriculture may be the backbone of the Zimbabwean economy but mining is its heart and soul. The full utilisation of the Zimvest Mining platform will ensure greater liquidity for participants in the mining sector which in turn will lead to more jobs and increased revenue for the government. It truly is a win-win situation” said co-founder and chief executive officer Takunda Chifokoyo.

The innovation comes after the COVID-19 pandemic and the subsequent lockdowns presented many challenges for the mining sector.

Zimvest Mining allows support services to the mining sector to extend their reach beyond brick and mortar locations, enabling them to supply goods and services throughout the country even when movement is restricted.

The company said the platform also allowed miners the opportunity to seek funding from a much broader pool of potential investors as they attempt to ramp up production.

Zimbabwe’s mining sector is projected to become a US$12 billion market by 2023.

Experts say that can only be possible through increased foreign and domestic investment.

“We want to do away with the use of WhatsApp and Facebook platforms to conduct business that should be done in a dedicated marketplace. Think of Zimvest Mining as a mining shopping mall that brings everything in one place rather than leaving it to chance in a scattered market. When it’s all said and done, this will be the Amazon.com of the local mining sector,” said Chifokoyo. Newsday

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