Zimbabwe repairs infrastructure to attract investments

Zim Minister of Industry & Commerce Mike Bimha and his SA counterpart Rob Davies

Zim Minister of Industry & Commerce Mike Bimha and his South African counterpart Rob Davies

from SAVIOUS KWINIKA in Pretoria, South Africa

Africa Editor
PRETORIA, (CAJ News) – ZIMBABWE says it is giving priority to upgrading its dilapidated roads, rail and air infrastructure in order to attract more investors.

In an exclusive interview with CAJ News Africa, Minister of Industry and Commerce, Mike Bimha, said upgrading such derelict infrastructure would boost the southern Africa’s investment opportunities.

“Presently, our government has embarked on roads upgrading nationwide, including the rail and air. The highway that needs quick attention and yet to be addressed is the Beitbridge – Harare Road. This is the gateway to almost all Southern African countries,” said Bimha.

The Beitbridge – Harare highway links Zimbabwe with South Africa, Zambia, Mozambique, Malawi, and Democratic Republic of Congo (DRC).

Bimha said the country would subsequently welcome new investors into the country soon to take up business opportunities in mining, agriculture, processing, manufacturing, transport, infrastructure development and energy.

Zimbabwe’s roads, including Beitbridge – Harare Road, are in poor state and are largely blamed for the significant loss of lives per year.

In a separate interview, Finance Minister, Patrick Chinamasa, said the country’s poor roads and rail network were in poor state but urged prospective investors to explore investment opportunities.

“We (Zimbabwe) have lots of economic challenges, but if one looks at them with a positive mind, they are equally economic opportunities to investors.

“We are here to say to our South African brothers, sisters, local and international companies, seize these opportunities for your business expansion or growth. Zimbabwe is welcoming you to start business in a peaceful, conducive and environmental friendly atmosphere,” Chinamasa said.

He urged investors to look into existing opportunities, especially in the areas of power generation, water reservoirs or dam construction, roads upgrading, infrastructural development as well as health.

Meanwhile, in another interview, Home Affairs Minister, Kembo Mohadi, assured prospective South African investors of peaceful environment prevailing in the neighbouring country.

He said the security agencies always ensured peace and harmony in the country.

“We have tight security to ensure that peace and harmony prevail in the country. My message to the investors is, ‘do not much worry yourselves in terms of stability, I believe the entire world knows we have relatively peace prevailing in the country than in any other region’,” Mohadi said.

The Ministers are accompanying President Robert Mugabe who is on a three-day state visit in neighbouring South Africa.

Despite economic meltdown worsened by sanctions imposed by the West, Zimbabwe remains South Africa’s top trading partner in Africa. Foreign Direct Investment (FDI) by South African entities in Zimbabwe between 2003 and 2013 amounted to approximately R12,8 billion rand and creating more than 2 400 employment opportunities.

South African companies that have invested in Zimbabwe include Nedbank, Impala Platinum, Standard Bank, Old Mutual and Tongaat-Hullet amongst many others.

There is also a significant population, officially numbering more than 200 000 but estimated at more than 2 million, of Zimbabweans that are working in South Africa. Remittances from these are also seen a s crucial in the Southern African country’s cash-generating prospects

.- CAJ News





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Posted by on Apr 9 2015. Filed under Africa & World, Exclusive, Featured, Finance, Finance & Banking, News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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