Zim mining indaba for Cape Town

FINANCE minister Patrick Chinamasa and his Mines counterpart, Winston Chitando, are headed to South Africa for a mines indaba set for Tuesday in Cape Town, as the country is aggressively searching for foreign direct investment.

BY BLESSED MHLANGA

The government has partnered African Chrome Fields (ACF), who will sponsor a breakfast event taking place on Tuesday running simultaneously with the indaba.

ACF said the purpose of the event was to promote the Zimbabwean government’s stated intention to declare the country open for business and encourage trade and investment into the country.

Chitando and Chinamasa will address a Zimbabwe is open for business, mining in Zimbabwe dialogue.

The annual event comes at a time the government has revised the Indigenisation Act, which required foreign investors to cede 51% of shareholding in companies to locals.

The revision now only restricts the 51% local ownership to diamond and platinum mining.

ACF national project director and Moti Group chief executive officer, Ashruf Kaka will provide a first-hand account of positive experiences of a corporation investing in Zimbabwe.

“There can be no better time than now to invest in Zimbabwe and we are hosting this event to promote the recently unlocked and vast opportunities for investment in Zimbabwe,” Kaka said.

3 Comments

  1. I put it to you that ED has a stake in ACF’s Zimbabwe operations. and the govt partmers his partners in “selling” zimbabwe!

  2. Lotshe. Do you really think that Zimbabwe can get back on its feet without trading,bringing in foreign countries to business? ED has to put measures in place that local people are not exploited ,abused or not paid well.Whoever is given tender has to be paid in full after the work has been done and effectiantly or else they should face the law. It can be done. Remember fortune favours the brave. If you just say it won’t. It will not work.ED is just like a manager at a company. He doesn’t own Zimbabwe. It’s our we have to stop the negative and start working to build our country .Noone is going to do it for us. We have been a laughing stock of the world for the past 17 years. I love Zimbabwe.

    1. GET RID OF “M” CONSTITUTION

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