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SA trade delegation visits

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A South African business delegation is expected in the country next week to explore investment opportunities, a month after government officials visited that country to lure investors.

The delegation would hold discussions with potential business partners in Harare and Bulawayo.

Players in infrastructure, information, communication technology, manufacturing, agro-processing and mining are part of the delegation.

A one-day investment seminar is planned to coincide with the delegation’s visit.

“The renewed partnership between South Africa and Zimbabwe encourages South African and Zimbabwean companies to deepen trade and investment relations,” reads a note from the South African embassy.

“The investment and trade initiative to Zimbabwe will showcase a range of companies boasting international experience in sectors such as infrastructure, information and communication technology, manufacturing, agro-processing and mining metals as areas of co-operation.”

The investment seminars are scheduled for Tuesday and Thursday next week.

The South African business community showed keen interest in investing in the cities during last month’s investment conference in South Africa.

According to recent statistics from South Africa’s Department of Trade and Industry, Zimbabwe’s trade with SA soared by $150 million to $325 million in 2011.

The country’s industrial sector has collapsed due to lack of capital and use of obsolete equipment.
Capacity utilisation at most firms has remained below optimum levels.

Empty factories are now a common sight in Bulawayo’s industrial district, as the economy struggles to recover from a decade-long crisis, with firms having downsised, closed or relocated to other parts of the country for better opportunities.

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