Zimbabwe: Sanctions Can't Stop Investment in Zimbabwe - France

Harare (file photo).
13 February 2020

Sanctions imposed on Zimbabwe by western countries cannot stop international businesses from investing in this country, French Ambassador to Zimbabwe Richard Boidin has said.

Boidin made the remarks while addressing invited guests at the official commissioning of a USD$ 1 million Weber plant for tile adhesives in Harare by a French-owned company, Saint-Gobain Construction Products Zimbabwe yesterday.

Boidin said while government persistently uses the excuse of sanctions for lack of investment in Zimbabwe, individual Western companies would not ignore chances of high margin profits in any country despite imposed sanctions on the subject nation

"That a company like Saint-Gobain decided to invest in Zimbabwe, is a strong message alongside other French companies and brands like Lafarge Lessafre, AGS and Total operating locally.

"You may hear sanctions this, sanctions that, but the truth of the matter is they do not stop any company from investing. Companies are after profit that is the main thing they pursue anywhere around the world," said Boidin.

President Emmerson Mnangagwa and Zanu PF have blamed sanctions for the poor state of the economy but the opposition and western governments have insisted on corruption and reluctance institute political reforms as the stumbling block to foreign direct investment.

The government has also escalated its anti-sanctions fight to SADC and the African Union who have also joined the chorus in denouncing the embargo.

AllAfrica publishes around 800 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.