Zim Continues To Attract European Investors
Brian Rungano Temba
President Emmerson Mnangagwa’s mantra – Zimbabwe is Open for Business, and his latest visit to King Charles III’s coronation has had more European investors keen on doing business in the country.
There has been increased strengthening of bilateral relations between Zimbabwe and the United Kingdom as evidenced by improved exchange visits, and renewed interest in promoting trade, investment and tourism opportunities across Zimbabwe’s major economic sectors.
On his visit to the coronation, the President met with business leaders from diverse backgrounds interested in working with the country, the cabinet heard on Tuesday.
Information, Publicity and Broadcasting Services Minister Senator Monica Mutsvangwa said the President met with investors from mining, telecoms, financials and healthcare.
“During the visit, and as part of the Second Republics’ mantra that Zimbabwe is Open for Business, His Excellency the President also met with business leaders, including the Chairperson of the Westminster Africa Group.
“The business leaders represented the following sectors: mining; telecommunications; energy; infrastructure development; aviation; financial technology and healthcare. Among the companies represented were Newbridge Resources, Clear Mobitel, the Financial Markets Indaba, Better Energy Company, and the Private Infrastructure Development Group,” said the Minister.
Newbridge Resources expressed interest in a remote sensing project, through which collection of information about the Earth can be done from a distance whilst Clear Mobitel intends to invest in Financial Technology (FinTech), Health and Education as well 5G networking across the country.
The Financial Markets Indaba facilitates trade and investment missions in Zimbabwe and around the world for investors interested in Africa.
“Better Energy Company is interested in investing in a massive 1 000MW solar energy project. It also has interests in the construction of housing and conference centres, mining, and infrastructure.
“Private Infrastructure Development Group has set aside US$5 billion for a solar project and intends to enter into a solar project contract with the Ministry of Energy and Power Development,” she added.
Senator Mutsvangwa said President Mnangagwa also met with the United Kingdom Minister of State for Development and Africa, the Right Honorable Andrew Mitchell, on May 5, 2023.
“The Right Honourable Mitchell highlighted his interest in mending Zimbabwe/UK relations and elevating these to a higher level,” she added.
President Mnangagwa also met with the Secretary-General of the Commonwealth Heads of Government Meeting, Baroness Patricia Scotland on 6 May 2023.
Baroness Scotland reported that the Secretariat was finalising the Report on Zimbabwe before submission to the Commonwealth Heads of Government Meeting Chairperson, His Excellency President Paul Kagame.
“Baroness Scotland indicated that 21 African members of the Commonwealth were supportive of Zimbabwe’s re-admittance into the grouping,” said Senator Mutsvangwa.