Zim reaches out to foreign investors

A HIGH-POWERED Zimbabwean delegation will be off to London next week for a conference, as the investment-starved country moves to lure foreign investors.
The two-day Zimbabwe London Investment Forum, Zimdaba London 2018, which runs between March 15 and 16, brings together business leaders and investors from the United Kingdom and Europe to discuss and action investment opportunities in Zimbabwe.


The Zimbabwean delegation includes seven Cabinet ministers, representatives from Zimbabwe National Chamber of Commerce (ZNCC), Confederation of Zimbabwe Industries (CZI), Zimbabwe Investment Authority (ZIA) and Special Economic Zones Authority (SEZA).

According to the programme seen by NewsDay, Foreign Affairs and International Trade minister Sibusiso Moyo, SEZA board chairman, Gideon Gono and CZI president, Sifelani Jabangwe will present on the macro-investment climate in Zimbabwe from the government and private sector perspectives and how the government is addressing investor requirements, including the establishment of special economic zones and what that means in practical terms.

Lands, Agriculture and Rural Resettlement minister Perrance Shiri and John Siko, head of Business Intelligence, Africa, Risk Advisory Group, will speak on opportunities available for investors in agriculture and what has been done to facilitate investment in the sector.

ZIA chief executive, Richard Mbaiwa, DeRisk managing director, Andrew Gaines and Exotic Capital head of Natural Resource Andrew Moorfield will present the country’s energy requirements, opportunities and measures put in place to facilitate investment into the sector.

Mines and Mining Development minister Winston Chitando will make a pitch on opportunities available for investors in the mining sector.

Industry, Commerce and Enterprise Development minister Mike Bimha and ZNCC president Divine Ndhlukula will present on opportunities in the manufacturing and retail sectors.

Transport and Infrastructural Development minister Joram Gumbo and his Tourism and Hospitality Industry counterpart Prisca Mupfumira will make a presentation on the opportunities in logistics, transport and infrastructure and tourism respectively.

The delegation will also make a pitch on investment opportunities in the financial services sector and Information and Communication Technology, where Finance minister Patrick Chinamasa, central bank chief, John Mangudya and PwC Africa Business Group chief operating officer, Chantele Carrington.

The conference is organised by Consolidated Africa Services and its sponsors include, among others, Exotic Capital, Diaspora Infrastructure Development Group and Bob Diamond-led Atlas Mara.

Since taking over the reins in November through a military-backed transition, President Emmerson Mnangagwa has been on a crusade to lure foreign investors, saying Zimbabwe is open for business.

The new administration has been reaching out to foreign investors, with Mnangagwa leading a Zimbabwe delegation to the World Economic Forum in Davos, Switzerland in January.

Foreign direct investment inflows have been plummeting from a high of $545 million in 2014 to $319 million in 2016 on the back of an unfavourable investment climate.
The new administration has promised to amend indigenisation legislation for the 51:49 threshold to apply only to diamond and platinum.

Investors are warming up to the new administration, but want to assess the investment climate after the harmonised elections coming up by

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  1. Its a bloated delegation, one minister could have represented the Government affirming its committiment to presentations by private players or quassi government players on the delegation. Who is paying for this trip. Could have been much better if the ONE minister went armed with gazetted reforms on issues such as tax/levies – tax holiday. guarantee on investment-property rights, electoral, rule of law as well as de militarisation of governancy institutions. Otherwise its just another comrades’ holiday on governement money.

  2. mbavha dzoga dzoga.. that Diaspora infrastructure Group company rigged the railway tender we all know that

  3. Zimbabwe Open for business and closed for Constitutionalism.

  4. Just another Comrades Holiday on Government Money – a bloated delegation ONE minister can represent the Government confirming all presentations by private players on the delegation. Some of the leaders on quassi government entities such export processing zone are proven serial failures. A single minister (accompanying private players)armed with gazzetted reforms on rule of law, electoral, property rights, tax/levies holiday, ease of doing business will come back with confirmed investment than this deleagtion which is going to bring back promises.

  5. This is step in the right direction and I am sure some investors will take a first move advantage.

  6. A waste of resource, the local investor is choking with high start up cost, that you are failing to address and you expect a foreign investor to come and set up under these conditions. It cost +1000 council fees, +500.00 company registration,+2500 EMA fees,+500 banks initial deposit, so how do you expect to start a business as a local investor?

  7. Zimbabwe is open for business in ED’S head not on the ground. We have one of the most ruthless tax systems in the world and you go to London without addressing such issues, you be lying. The locals cannot even copy with these harsh taxes and you expect foreigners who have choice of places of lucrative destination to choose ZW of places. Think again new dispensation boys.

  8. Any idea who is representing them the SMEs

  9. gideon Gono wemabearer cheque

    Gono is atypical failure why do you still accommodate him. His areas of failure include
    1.The architect of Zimbabwe’s hyperinflation
    2.His house in Greystone Park, Harare, was yesterday auctioned after failing to pay $1,3 million for an undisclosed number of vehicles he bought on credit from a local dealer, Oasis Motors.
    3.Gono’s company, Luna Chickens, was taken to court by Crest Breeders International, accused of defaulting on paying for $17,000 worth of poultry products. Gono Chivharo imbava
    4. Gideon Gono lost property valued at $ 18 000 after failing to pay workers at Vic s Tavern Hotel in Chivhu. Gono grabbed the hotel from Catherine Willer in 2000
    5. Gideon Gono sued by Zesa for failing to pay bills amounting to $87 000.00
    6.Kereke wrought Gideon Gono thesis ( academic fraud)
    7.ROCKFOUNDATION Medical Centre is claiming over US$2 million in damages from the Reserve Bank of Zimbabwe Governor Dr Gideon Gono for failing to pay taxes and loss of business due to cash constraints necessitated by the latter’s alleged fraudulent conduct.

  10. 50 years dzokuba. God is not a fool. God used you to enact justice on Bob and Grace. Tikapembera. Who will he use against you? Time will tell.

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