Zimpapers Logo

Frank Stevens, the Foreign Economic Representative for South Africa, ZITF General Manager Nomathemba Ndlovu, South Africa Ambassador to Zimbabwe Vusi Mavimbela and Andy Makwabe Counsellor-Political at the South Africa Embassy in Harare help the top envoy cut the ribbon during the official opening of their stand at ZITF 2014 last week

Oliver Kazunga Senior Business Reporter
A SOUTH African investor and a local entrepreneur have entered into a $10 million joint venture project to set up a company that supplies office equipment. The firm, Krost Office Products Zimbabwe has already established a branch in Bulawayo and hopes to expand into other parts of the country in the next six months.

“We were linked together through a conference organised by the Ministry of Industry and Commerce and South Africa’s Department of Trade and Industry during the Zimbabwe International Trade Fair (ZITF) last year,” said Krost Office Products Zimbabwe managing director Alex Mpande on the sidelines of the just ended ZITF.

“We have entered into a $10 million joint venture partnership to establish Krost Office Products Zimbabwe. The money is being dispatched in tranches and so far we have disbursed $2 million of the $10 million project”.
Mpande said Krost Office Products was established in South Africa in the 1930s.

“The project is expected to expand operations to other parts of the country in the next six months.
“As you might be aware, Bulawayo was an industrial base of the country so we opted to start by establishing ourselves here to revamp the market before spreading to other parts of Zimbabwe,” he said.

In a separate interview, the South African investor, Brendan Baker said his long-term vision was to empower the local entrepreneurs through joint venture projects.

“We see opportunities in Zimbabwe and in the next six months we are looking forward to expanding our operations to Harare and other parts of Zimbabwe and Zambia.

Such an expansion will not be possible without partnering the local entrepreneurs,” he said.

At the moment, Krost Office Products Zimbabwe which sells equipment such as school furniture, computers and office accessories has about 10 employees.

The company hopes to increase the number to at least 100 when it sets up a manufacturing plant.
Baker said they have plans to establish a manufacturing plant in Zimbabwe.
Asked to comment about the negative publicity Zimbabwe has been subjected to over the years, he said:

“The past is behind us. The past has damaged both local and foreign investors; let’s focus ahead. As foreign investors, we are putting faith in local people.”