NewZimbabwe.com has invited Mr. Vengai Madzima, the Senior Partner at Madzima Chidyausiku Museta Legal Practitioners (MCM Legal) to discuss with us legal issues that affect Zimbabweans living in the diaspora. The discussions are of a general nature and those seeking specific legal advice should contact their lawyer.
Welcome back Mr. Madzima, we understand that the Zim Diaspora Property Showcase is back in the UK and will be held in Birmingham, UK on 12th July, 2025. What can the diaspora market expect?
Yes, I am glad that the Zim Diaspora Property Showcase is back in the UK and will be held in Birmingham on Saturday, 12th July, 2025 at the Hilton Metropole between 10am to 5pm.
Thanks again to its organisers, Seeff Zimbabwe, this showcase is unique in that it allows real estate and complementary businesses operating in Zimbabwe to engage and discuss with the market in the Diaspora. What is key to latch on to is that these businesses were already offering services to the diaspora market.
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The difference now is that the Zimbabwe-based businesses and the diaspora market can operate from a position of mutual understanding and benefit. The aim is to create a symbiotic and not parasitic relationship between the businesses and their markets.
The event will showcase businesses in the Zimbabwe real estate industry, including complementary businesses like construction companies, money transfer agents, building equipment suppliers and mortgage providers to engage with their market, tinkering with their payment options to suit specific markets.
What can the UK community expect from the event?
The community in the United Kingdom can expect that the 15 or more companies attending the event from Zimbabwe will showcase exciting deals and real estate products for the UK market.
Our first showcase in July last year in Birmingham opened the business attendees' eyes to the unique needs of this particular market. The diaspora property showcase in Texas, USA assisted the Zimbabwe businesses to understand the general needs of the diaspora community in their quest to invest and have properties in Zimbabwe.
I say this so that the attendees understand that the participants this year have a more developed idea of how to tailor their products for this unique market to allow for more people to own properties, while also considering their unique economic and social obligations in their host countries. A commercial quid pro quo.
What can we expect from your presentation on legal issues affecting property investments?
VM: I suppose I represent one of the complementary businesses, as no property transaction in Zimbabwe can be done without the assistance of a lawyer and if somehow it is done without one, in more cases than not, a lawyer will get involved at a later stage to mitigate the mess.
My presentation at the conference will be aimed at clarifying or simplifying to the UK diaspora community the Zimbabwe legal and regulatory framework for real estate investment. My presentation will cover the investment process, including other ancillary social and commercial issues that may affect such investment.
The overarching objective is to ensure that potential investors at the conference are able to invest safely and wisely in Zimbabwe. To the foreign investors, my presentation will include issues related to the repatriation of capital and profits on disinvestment.
The main concern for the diaspora is that they are not duped of their hard-earned money, will your presentation also look at what to do not to be duped?
That will be the crux of my presentation to mitigate that possibility so that attendees do not fall victim to fraudsters.
Our property development sector is growing and the natural thing in any growing industry is that unscrupulous people view it as an opportunity for quick gains. The carrot normally being unrealistic deals that offer quick and commercially ridiculous gains.
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It has been my experience that real estate investments should be made with a sober mindset having completed the necessary due diligence required. It is your classic aphorism, all that glitters is not gold.
Are there any other presenters?
Yes, we have heads of banks and banking departments presenting at the conference offering mortgages and other financial products, Real Estate directors and agents, property developers, alternative energy players and many more attending and presenting at the conference.
Thank you, Mr. Madzima. We have to end here due to time constraints.
Thank you.
You can contact Vengai Madzima on vengai@mcmlegal.co.zw or www.mcmlegal.co.zw.
