Zimbabwe’s tobacco industry has dominated the uptake of investments in the first quarter with locals increasing their participation in the contracting business.

Investor confidence is improving in the tobacco industry with revelations by the Zimbabwe Investments Authority (ZIA) that projects implementation for the sector has been on an upward trend.

An operations manager for a local tobacco contracting firm, Mr Tapiwa Moga says the increased granting of permits for indigenous contractors in the sector has also improved growth.

“The sector is poised for growth and we anticipate for greater opportunities,” he said.

Viable pricing models have also increased investor confidence within the sector, according to an economist Dr Gift Mugano.

“The sector is therefore poised for growth in the future,” says Dr Mugano.

The tobacco industry is important for Zimbabwe as foreign currency is generated from exporting the golden leaf.