The Herald (Harare) Published by the government of Zimbabwe

Zimbabwe: 'Zimbabwe Investment Destination of Choice'

Harare — Zimbabwe is the investment destination of choice in Africa and the inclusive Government will continue to build a stable environment for foreign investors, senior officials told a visiting German business delegation yesterday.

Ministers Simbarashe Mumbengegwi (Foreign Affairs), Welshman Ncube (Industry and Commerce), Elton Mangoma (Economic Planning and Investment Promotion), and Sithembiso Nyoni (Small and Medium Enterprises and Co-operative Development) gave the assurances during a meeting with the 25-member delegation at Munhumutapa Building.

Minister Mumbengegwi said parties to the inclusive Government were pleasantly surprised by the close working relationship they had established within a short period of time.

"Since it (the inclusive Government) was set up we have never looked back. Once together, the way we operate has surprised even us in the inclusive Government.

"We have been able to establish a consensus very quickly. We are surprised why it took us so long to work together," he said.

Minister Mumbengegwi said debate in Cabinet was not on party lines, but was premised on the need to turn around the country's fortunes.

"From the debate in Cabinet you would not tell who is from which party," he said.

Minister Mumbengegwi said revitalising the economy remained a major concern of the inclusive Government.

He appraised the investors on the activities undertaken by the inclusive Government, including the constitution-making process, assuring them that the main political parties were determined to implement the GPA in its entirety.

He said Zimbabwe was also keen to re-establish relations with the European Union and the Western world.

The minister applauded the delegation for visiting Zimbabwe to assess the situation on the ground first hand.

Minister Mangoma assured the German investors that Zimbabwe respected property rights, but pointed out that the land issue should be understood in its historical context.

"Zimbabwe is a country you should look at for investment opportunities. Indeed, Zimbabwe is the country to be in.

"We have always respected property rights, except on land which has its own history. But still we will compensate for improvements (on the farms acquired for resettlement)," he said.

The onus to compensate white former commercial farmers lies with the former colonial power Britain as enshrined in the Constitution and as agreed at the 1979 Lancaster House talks.

Minister Mangoma said Zimbabwe has a very educated population with a strong work ethic that was second to none on the continent.

He forecast that Zimbabwe would have double-digit economic growth in the coming 10 years, and urged the Germans to take advantage of opportunities that would be created in various economic sectors.

Minister Ncube highlighted investment opportunities in

the country's manufacturing sector.

"Investment in Zimbabwe has always been safe, is safe and will always be safe.

"We are mindful of the history we are coming from and the challenge of perception the international community has on Zimbabwe.

"We know the challenges we face and we are all committed to fighting them head on," he said.

He said there were opportunities in the country's steel industry, agro-processing, pharmaceuticals and in fertilizer manufacturing, among others.

Minister Nyoni urged the investors to take advantage of opportunities in the SMEs sector, saying they had proved to be the major drivers of economic growth in many countries.

"Most countries that have made it economically have supported their SMEs. Without them our economy would have had more problems," she said.

She said opportunities in the sector lay in providing factory shells and communication networks.

Germany's Ambassador to Zimbabwe, Mr Albrecht Conze, led the delegation that arrived in the country on Tuesday.


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Comments 1 to 3 of 3 Post a comment

  • emily_sorensen
    Oct 1 2009, 13:19

    "Zimbabwe is the investment destination of choice in Africa"

    Ha ha what a joke!

    Maybe if you want your investment 'nationalised' after 6 months with zero return!

  • Michael
    Oct 1 2009, 22:17

    "Investment in Zimbabwe has always been safe, is safe and will always be safe."

    ROFL, LMAO

    Just ask Kingdom Meikles, or Anglo American!!!!!!

  • kjrs120
    Oct 14 2009, 17:14

    I hope the German ambassador to Zimbabwe tells his visiting delegation the real truth about futile investing in that country whilst in the hands of Mugabe. These Zimbabwean ministers lied to their teeth about stability, casually throwing in the land issue as though it's of small consequence when in actual fact it is a major concern and the mirror of how people and all other affairs are handled by thugs with no concern for law. With an ambassador there who sees Mugabe's dysfunction, I have my doubts if this delegation came specifically to Zimbabwe and were not just passing through. Another thing is why didn't those ministers tell the Germans the truth that because they are considered " Western," "white people" and a kin to " white Anglo Briton" they were not wanted and their offer for whatever enterprises considered were not appreciated in Africa and that they should take their offers elsewhere. Considering all the Mugabe tirades against the West, I think this would have been the right response to these guys by Zimbabwe.