LIVE: Official Opening of Zimbabwe International Trade Fair 2024 – A Beacon of Global Business Innovation Unveiled

LIVE: Official Opening of Zimbabwe International Trade Fair 2024 – A Beacon of Global Business Innovation Unveiled Welcome to The HeraldOnline live blog of the Zimbabwe International Trade Fair! We’re thrilled to bring you real-time updates from one of the world’s most anticipated events in the business calendar. Held annually in the City of Kings, Bulawayo, the Zimbabwe International Trade Fair is a vibrant showcase of the best in trade and industry, not just from Zimbabwe, but from across the globe. This event is a melting pot of innovation, collaboration, and business excellence, attracting exhibitors and visitors from various sectors and countries. 11:30 hours – Meanwhile Vice President Mohadi has arrived for the official opening, followed by the First Lady Dr Auxillia Mnangagwa and her counterpart, Kenyan First Lady Rachel Ruto. 11:34 – Both Heads of State have arrived for the official opening. 11:36 – President Ruto is now inspecting the guard of honour. FAST FACTS ON ZITF Birthed 1899 by the Rhodesia Farmers Association Became Bulawayo Agricultural Society Bulawayo Agricultural Society opened May 1899. Became Central African Trade Fair to cater for industry. First Fair opened by Queen Elizabeth 11 May 1899. Renamed Trade Fair Rhodesia in 1969. Changed to Zimbabwe-Rhodesia Trade Fair in 1979. Became Zimbabwe International Trade Fair in 1980. Main purpose-connect business, market Zimbabwean products. The ZITF Company was established in 1986. The ZITF has become Zimbabwe’s premier international trade show. President William Ruto of Kenya is officially opening the ZITF this year. 12:00 – Minister of Industry, Commerce, and Enterprise Development Honourable  Mangaliso Ndlovu is now giving his remarks. He says Zimbabwe and Kenya have a lot in common. 12:02 – He adds that Zimbabwe has always been a land of innovation and commerce. 12:06 – Minister Ndlovu paves the way for a poem recited in honour of President Ruto, the Guest of Honour before inviting him to the podium to deliver his keynote address. 12:08 – As a result of President Mnangagwa’s policies, together with strategies of supporting farmers the seeds of transformation are there for all to see. He says Zimbabwe is destined for greatness and Kenya will stand shoulder to shoulder with it. 12:10 – Zimbabwe has always been a nation of innovation, and under President Mnangagwa’s leadership the positive changes taking place under his leadership are testimonials of a people who have won against powerful adversaries. 12:12 – The economic transformational changes taking place across the country are evidence of a country ready to transform its challenges into opportunities towards poverty reduction, employment creation and reduction of inequality thereby ushering in economic development and incisive prosperity. 12:15 – President Ruto asserts that as a result of President Mnangagwa’s policies of Agricultural revitalization, together with strategies of supporting farmers, the seeds of transformation have been sawn for Zimbabwe. 12:17 – He adds that it’s such fruits of transformation which leads to rural wealth and employment creation – leading to the maturing of various agro-industrial value chains which attract investment into expansion in manufacturing and growth in exports thereby creating more jobs for the people of Zimbabwe. He adds that the restoration of agriculture as the cornerstone of Zimbabwe’s economic growth and the re-birth of the country as a famous bread basket is visible. 12:20 – The second visible effects of Zimbabwe’s commitment of embarking on a new ambitious journey of development is its infrastructural development, which has enhanced Zimbabwe’s transport, energy and ICT sectors towards bolstering domestic and regional connectivity, increasing productivity, promoting trade and attracting investment. 12:25 . He notes the recent visit to Kenya by Zimbabwe’s Minister of Information Communication Technology, Postal and Courier Services honorable Tatenda Mavetera where she participated in the Connected Africa Summit on behalf of President Mnangagwa as part of thought leaders in shaping the future ICT landscape of the continent. He adds that he held robust conversations with her and many others on how Africa should be connected and the benefits of this vision. He says these efforts which clearly show how Zimbabwe is pursuing regional integration show how the country is determined to capitalize on domestic, regional, and pan-Africa trade – and in all this Kenya will stand shoulder-to-shoulder with Zimbabwe. 12: 34 – Zimbabwe’s introduction of a new currency backed by gold and other minerals is another clear indication to committed efforts to economic recovery and transformation. 12:37 – These bold decisions by the country, constitute a bold and radical economic recovery and reform agenda based on an ambitious vision to see the country prosper despite the daunting challenges experienced by the country, said President Ruto. President Ruto says it’s well-known that economies that possess technologies get much more out of their resources. It’s also a fact that innovation is the recipe for transformation. Innovation empowers technology and processes to achieve more making it easier to satisfy demand through efficiency in productivity. Innovation guarantees competitiveness, he said. He adds that Zimbabwe exemplifies Africa’s best-case scenario – a young nation with a robust literacy rate of 89,89% and populated by well-educated and highly skilled young people to drive the nation forward. Zimbabwe’s natural resources are diverse – including coal, cobalt, gold, iron, lithium, platinum, and many others – therefore there is no doubt that these present an opportunity for them to be deployed to preserve the new currency. President Ruto said the sky is surely the limit for Zimbabwe’s transformation agenda. Innovation will enable every economic sector to harness the power of automation and robotics which are revolutionizing productivity and redefining the future of work globally. Innovation will simplify transactions, enhance financial inclusion, and promote e-commerce. With innovation barriers become bridges, borders transform into portals and challenges transform into opportunities. Undoubtedly, the ZITF represents Zimbabwe’s preparedness to usher in a new era of development driven by the country’s human and natural resources. Potential investors must start paying close attention to the economic reforms underway lest they lose out on highly beneficial incentives that are clear for all to see. 12:59 – President Ruto concluded by encouraging participants to take advantage of the ZITF to forge partnerships, collaborate, and exchange ideas about the most innovative means of achieving mutual benefits. The official opening was followed by the awards ceremony to wrap up the grand opening of the 64th Edition of the ZITF with some awards won as follows: Best Zimbabwe exhibit under food – Delta Beverages Best Zimbabwe exhibit under motor trade – ZINARA President’s Award – Ministry of Higher and Tertiary Education ZITF trophy – EU delegation The blog ends here