Zim to host investment summit

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An investment summit, organised by World Economic Congress (WEC), is slated for next month in Harare, aimed at attracting investment into the country.

BY FIDELITY MHLANGA

WEC management chairperson Andrew Muchechetere said yesterday there were a number of investors, willing to invest in the country despite the current economic hurdles.

“It’s not all people who look at uncertainties and inconsistences maybe from a political standpoint or from other standpoints.

Others come in despite those. So we are looking at an aspect where we have a pool of investors who will come in anywhere. There are some investors who invest in uncertain environments because, for them, it’s good to invest in such environments due to less competition and they are able to broaden their scoop,” Muchechetere said.

Zimbabwe has been battling to attract foreign direct investment, with inflows at $319 million last year from $421 million in 2015
WEC president Alexander Chisango said the event, which will be held from November 7 to 9, could be graced by three heads of State from Africa.

There will be 40 international speakers expected at the summit which will be held under the theme, Reconstructing Africa Beyond Limitations.

Some of the summit’s objectives are geared towards the revival and acceleration of slowed and abandoned reconstruction projects, as well as finding investment, currency and banking solutions.

The summit signifies the process of building a strategic, productive, integrated and global Africa, ushering the era of a collaborative earth.

“This process is to ensure that we eliminate the uncertainty and inconsistences and we are bringing in different players. What we have realised is that if we don’t begin to do something then nothing will happen. But if we begin something then engagement is then leveraged to be able to produce the aspects where the terrain becomes level and uncertainties are removed,” he said.

Muchechetere added that there was an investor, who was coming in for mergers and acquisitions.

“So we have a plethora of investors who have different strategies on how they want to invest. We have one organisation that is coming to do acquisition and mergers and we are signing that agreement this afternoon,” he said.