Photo: IRIN

Harare

ZIMBABWE will next month hold a two-day trade and investment conference in Johannesburg aimed at attracting foreign investors.

The conference will be on April 3-4, Economic Planning and Investment Promotion Minister  Dr Tapiwa Mashakada said in an interview last Friday.

"South Africa is an important source of investment and we are going there next month to encourage investors to come and start businesses in Zimbabwe," he said.

"Last year, we held a very successful conference in South Africa and a number a private equity transactions were concluded thereafter."

The conference will also focus on ways of doing business in Zimbabwe, with special attention to employment trends, utility, taxation and key economic drivers.

Last year, Zimbabwe's investment approvals fell to US$930 million, from US$6,6 billion in 2012. But analysts said the country was likely to experience robust growth in investments after elections expected to be held in July this year.

They added that the ongoing interest in sub-Saharan Africa by international investors would have a positive impact on Zimbabwe.

"Africa is becoming an increasingly more important destination for investors," said Invictus Securities.

"Global investors can no longer afford to ignore the changes that are taking place in Africa.

"Building blocks in sub-Sahara-Africa's investment case remain broadly intact, notwithstanding the resurgence of coups and heightened political instability in the Sahel region, knock-on effects of the developed world's financial woes and macro-economic instability both in East and West Africa."

While FDI into Zimbabwe has been on a gradual increase since 2009, it still lags behind most Southern African countries in attracting investment.