Southern Africa: Mnangagwa Urges Tanzanian Firms to Invest in Zimbabwe

President Emmerson Mnangagwa and his Tanzanian counterpart, President John Magufuli, share a lighter moment before entering into a closed-door meeting at State House in Harare.

PRESIDENT Emmerson Mnangagwa has urged Zimbabwean and Tanzanian firms to take up abundant business opportunities in both countries in order to strengthen relations between the two allies.

He was speaking at a dinner at State House Tuesday to welcome vising Tanzanian leader John Magufuli who is in Zimbabwe for two days.

"Your visit has provided us with another opportunity to discuss ways to strengthen and deepen our relations," said Mnangagwa.

"As we agreed during my state visit in June 2018, great emphasis must now be placed on economic and trade cooperation in order to improve the standards of living of our people."

President Mnangagwa said some Tanzanian firms were already enjoying great success within Zimbabwe's business environment.

"It must also encourage mature investment by the private sectors in our country a such as Bakhresa holdings Investments, Blue Ribbon, SeedCo and Banc ABC from Tanzania.

"We continue to invite many more private players in our two countries to take advantage of the numerous investment opportunities open for them in our economy," he said.

His calls for Tanzanian businesses to come and set up base in Zimbabwe come amid crippling fuel, foreign currency and power shortages in Zimbabwe.

The Zimbabwean leader has seen his "Zimbabwe is open for business" mantra turn meaningless as foreign businesses decide to stay away for fear of pouring investments into a country with no consistent policies.

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