Invest Africa in talks with govt

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Global private members’ club, Invest Africa, says it was in talks with government on an investment project amid indications that it would want to invest in an ethanol venture.

BY VICTORIA MTOMBA

Invest Africa seeks to link capital and expertise into Africa and information and opportunity out of Africa. Its leaders include Rob Hersov, ex-Barclays Plc chief executive officer Bob Diamond and billionaire entrepreneur Ashish J Thakkar.

Invest Africa is one of the delegations that came into the country this year to assess the business environment.

“Talks are still progressing with the government of Zimbabwe, and we hope they will conclude soon,” a spokesperson from Invest Africa said in emailed responses to NewsDay.

The ethanol project was supposed to be signed during Invest Africa trade mission to Harare this year. The delegation included investors from the United Kingdom, China, Germany and the United States.

emmerson mnangagwa (3)

The delegation met Vice-President Emmerson Mnangagwa, who indicated that Zanu PF was willing to correct its past wrongs in the implementation of some of its economic policies.

The visit was the second to assess the investment climate in the country following a similar visit last year sponsored by Invest Africa.

Zimbabwe is on a drive to attract foreign direct investment (FDI) and has promised to make sweeping reforms to ease the cost of doing business.

Latest statistics showed that FDI inflows increased to $545 million last year from $400 million in 2013.

However, the inflows were low compared to South Africa ($5,7 billion), Mozambique ($4,9 billion) and Zambia ($2,4 billion).

Invest Africa was founded in 2013 as a platform for business leaders, investors and entrepreneurs to gain insight into Africa and be exposed to the continent’s opportunities.

Through its networks, Invest Africa helps companies to accelerate their expansion into Africa, find the right strategic partner on the continent and gather local intelligence and support.

Invest Africa says its vast local African and international networks help companies grow revenues in exciting new markets and get direct introductions to potential clients and partners.

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  1. The ethanol project was supposed to be signed during Invest Africa trade mission to Harare this year. The delegation included investors from the United Kingdom, China, Germany and the United States.

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