HomeLocal NewsMinister tells investors to take advantage of job cuts

Minister tells investors to take advantage of job cuts

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GOVERNMENT has urged South African investors to take advantage of opportunities which have been made available
due to company closures and the economic challenges that Zimbabwe is going through.

Tarisai Mandizha

Mike Bimha
Minister of Industry and Commerce Mike Bimha

Addressing a South Africa trade mission team, Industry and Commerce minister Mike Bimha said although the
country was going through challenges, there were companies like cement manufacturers PPC which were thriving.

“I, therefore, take my hat off to companies like Pretoria Portland Cement (PPC) who still see the light. I encourage all investors to take advantage of the opportunities made available by company closures and operational challenges due to economic challenges in the country,” Bimha said.

“I urge South African investors to come and take a leaf from PPC and come to invest in Zimbabwe. Despite what
has been said by foreign media, Zimbabwe remains open to investment from abroad. As, therefore, you have seen, our country remains open for investment.”

Bimha said there was urgent need for investment in the construction of dams, highways and bridges, among others,
adding that the investment by PPC would go a long way to support development in the country.

PPC, a South African company, is in the process of building a new plant in Harare worth $86,1 million and has a
capacity to produce 100 tonnes of cement per hour, making 780 000 tonnes per year.

PPC project leader Craig Belstead said the group was now at the stage of ramping up the civil constructions and
that all the foundation works were now in place. He said the new plant would be commissioned in September 2016.

The trade mission also toured Shamva Mine, a subsidiary of Zimbabwe’s largest gold mining group Metallon
Corporation.

A thought leadership dialogue will be held on Thursday at Cresta Lodge in Harare where Bimha, Tourism minister Walter Mzembi and Mines deputy minister Fred Moyo will address the trade mission.

The visit by the South African trade mission is a follow-up to the Zimbabwe Trade and Investment Forum hosted in
Johannesburg last month by the Zimbabwean Embassy in South Africa, the Mail&Guardian Africa and South Africa’s
Department of Trade and Industry.

Mail&Guardian Africa and government organised the three-day trade mission which ends today.

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