A team of Hong Kong-based business people representing leisure, hotels, jewellery and mining sectors is expected in the country at the end of July or August to explore business and investment opportunities.
DEAT Capital, a local private sector advisory firm in partnership with the government and Confederation of Zimbabwe (CZI) last month undertook a six-day Zimbabwe International business roadshow to Hong Kong and Singapore to explore joint venture and sourcing partnerships with businesses in the two countries.
In its report back to stakeholders, DEAT Capital managing director Nick Moyo said Singapore Business Federation, the apex business body representing over 17 000 Singaporean companies pledged to put a high-level business delegation to visit the country next year to explore trade and investment opportunities.
“A team numbering 10 Hong Kong-based businesspeople representing leisure, hotels, jewellery and mining sectors will be visiting Zimbabwe late July or early August 2011 to examine specific opportunities from trade and investment side,” DEAT Capital said in its report.
“A Singapore-based agriculture-focused company has indicated interest in investing up to $100 million in Zimbabwe’s cotton sector.”
Moyo said Hong Kong Stock Exchange, the world’s sixth largest stock market, expressed interest in assisting local companies raise capital through initial public offerings and issuing debt securities on their exchange and would actively consider primary and secondary listings proposals.
He said the Singapore Business Federation and International Enterprise Singapore (the outward trade and investment promotion body in Singapore) requested DEAT Capital to develop a trade and investment project clearing system for profiling to Singaporean investors and traders interested in doing business in Zimbabwe.
Moyo said a Hong Kong-based internationally-focused multibillion dollar Chinese international conglomerate, asked the advisory firm to profile bankable mining projects to them.
“One-to-one meetings saw Zimbabwe delegation meet over 90 prospects in areas such mining and agriculture commodities trade and financing, private equity, technology, capital equipment and machinery, urban infrastructure development, real estate development, capital raisings on Singapore capital markets, forestry, hotels and leisure development and low-cost housing,” said Moyo.
DEAT Capital said Hong Kong presented strategic advantage for companies interested in doing business in China adding that the private sector could take advantage of visibility and larger platforms offered by international roadshows to reach a more diverse and deeper pool of potential partners, underpinned by government support, which is critical to foreign businesses intending to do business in Zimbabwe.
He said plans were underway to organise a high-level Zimbabwe-Asia Business Forum and to implement an international capital markets roadshow initiative to a major world centre of capital before end of year 2011.