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Michael Ndinisa

Nqobile Tshili, Business Correspondent
THE Urban Councils Association of Zimbabwe (UCAZ) has partnered a South African investment company MN Capital in its bid to attract foreign investors to Zimbabwe’s towns and cities.

The two parties on Friday signed a Memorandum of Understanding that is expected to boost foreign investment in the country.

UCAZ secretary general, Mr Livison Mutekede, told Business Chronicle that urban councils were geared to improve service delivery and were seeking serious partners.

He said partnership with MN Capital will help lure investors to Zimbabwe’s different cities and towns.

“We have investment opportunities in housing, road infrastructure and energy among other areas relating to service delivery. We are therefore inviting foreign investors to partner local authorities in implementing these projects meant to improve service delivery.

“Our partnership with MN Capital is one of the platforms, which we can use to achieve our goals,” he said.

Mr Mutekede said UCAZ and MN Capital will in August this year hold their first investment forum in Bulawayo  and investors from different countries are expected to attend.

He said local authorities were happy that the new Government’s thrust is to attract both local and foreign investors.

“As local authorities we are open for business. This has been the agenda we have been pursuing in the past three years and we are pleased that the national leadership is also sharing the same vision,” he said.

Mr Mutekede said MN Capital was a trusted brand in organising investment conferences and was confident that the new relationship will result in growth for local authorities.

MN Capital chief executive officer, Mr Michael Ndinisa, said his firm was excited that it has partnered UCAZ.

He said his company, although based in South Africa, was in partnership with various organisations in Botswana and Namibia among other countries.

“It’s about time we penetrated the Zimbabwean market. We are confident that UCAZ and its membership will benefit immensely from our business links. We want to connect Zimbabwe to the world through our investor partners,” he said.

Mr Ndinisa said President Mnangagwa’s mantra that the country’s open for business was one of the reasons that led MN Capital to partner Zimbabwean companies.

@nqotshili