Zimbabwe: Zim Business Community Positive About Russia Prospects

22 August 2019

Zimbabwe's business community is positive about the prospects that the country will unlock at the forthcoming Russia-Africa Summit where Zimbabwe will take part.

Government on Tuesday announced that Zimbabwe and Russia had concluded multi-billion-dollar deals in various sectors of the economy ranging from energy, mining, tourism, health, agriculture and media, a development expected to ensure Harare realises the objectives of Vision 2030.

The deals were negotiated by President Mnangagwa in January when he visited Moscow and were concluded by Foreign Affairs and International Trade Minister Sibusiso Moyo when he was in that country early this month.

The signing of the deals will be done during the Russia-Africa Summit.

Head of the Zimbabwe-Russia Business Forum Mr Tamuka Macheka yesterday told The Herald that the business delegation will take part in the summit which is a platform for African countries to market and engage with Russian investors.

"The Zimbabwe business community will attend the summit to seek investment opportunities," said Mr Macheka, who is also president of the Zimbabwe National Chamber of Commerce (ZNCC).

"A number of important commercial, economic and investment deals will be signed at the end of the forum.

"The key issue here is that the forum comes after President Mnangagwa's State visit to Moscow this year. During the visit, there was the formation of Zimbabwe-Russia Business Forum, which I actually co-chair with my Russian counterpart.

"We have now arranged a business trip to Russia as the Zimbabwean delegation. The delegation will comprise members from the Zimbabwe National Chamber of Commerce, Confederation of Zimbabwe Industries, bankers, Zimbabwe Chamber of Mines, among others," said Mr Macheka.

He added that stakeholders from various sectors of the economy are expected to take part.

"We are looking at participation of all stakeholders in various sectors of the economy.

"The basis of our engagement is to explore investment opportunities in Russia and attract ideal investors back home.

"We will be having a business meeting, where we are also going to invite the Russian business delegation to come to Zimbabwe and explore for business opportunities in different facets of the economy," he said.

Mr Macheka applauded President Mnangagwa for opening business opportunities for the private sector through engaging with foreign investors.

"We want to thank President Mnangagwa for opening avenues for the private players to engage with the Russian investors.

"The relationship between the two countries is very positive.

"Whenever the President is going out for business engagement, the private sector will be always on his side," he added.

There is also a commitment by the two countries to support the September visit of the ZNCC to Moscow in the build-up to the October 2019 Russia-Africa Summit in Sochi.

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