Foreign investors keen to engage Zimbabwe

Investment budget local government

Kiyapili Sibanda, Business Reporter
FOREIGN investors are keen on investing in Zimbabwe having been encouraged by the recent peaceful political transition in the country, an official said.

Confederation of Zimbabwe Retailers’s (CZR) president, Mr Denford Mutashu, who recently visited several countries in Europe, said investors were interested in tapping into opportunities in Zimbabwe.

He said countries like Hungary, Belgium, Germany and Spain were hopeful that the new political dispensation under President Mnangagwa was good for economic  development.

“We had a successful European tour as CZR and those European countries want to invest in the country. All of these European countries are talking the same language of investing back into the country.

“They want to invest in mining, manufacturing, agriculture, retail and wholesale sectors.

“They want to take advantage of the new Government and have highlighted that Zimbabwe was good for investment,” said Mr Mutashu.

He said the positive sentiment was good for investment, which is critical in improving domestic productivity and addressing the issue of foreign currency challenges in the country.

“There is a need of FDI in the county in order to solve foreign currency shortages.

“We have to help the new Government to try and address this issue and it is up to us as businesses to find lasting solutions in addressing liquidity challenges,” he said.

The CZR boss highlighted that FDI should be complemented with sound diaspora remittances and export earnings for a holistic economic recovery.

He commended proposals to have the indigenisation and empowerment policy reviewed and aligned to international best practice.

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