Commercial Farmers' Union of Zimbabwe

Commercial Farmers' Union of Zimbabwe

***The views expressed in the articles published on this website DO NOT necessarily express the views of the Commercial Farmers' Union.***

Investment roadshow set for SA

Investment roadshow set for SA

Wednesday, 08 February 2012 00:00

Business Reporter

A high-powered business delegation will early next month embark on a roadshow in South

Africa to promote trade and investment between the two countries. The Ministry of Economic

Planning and Investment Promotion will lead the show seeking to build on the Bilateral

Investment Promotion Protection Agreement signed by the two countries in 2010.

The delegation will include Government ministries, the private sector represented by business

advocacy groups, including the Confederation of Zimbabwe Industries, the Bankers’ Association

Zimbabwe, the Zimbabwe National Chamber of Commerce and the Chamber of Mines.

Secretary of Economic and Investment Promotion Mr Desire Sibanda said the targeted sectors

were those identified as the “most critical” in the Medium Term Plan. These include energy,

mining, manufacturing, agriculture, tourism, transport and information and communication


“We have a BIPPA with South Africa signed in 2010 and that has created a conducive

environment for trade and investment between the two countries,” said Dr Sibanda.

“With that agreement in place, we are going to have a big roadshow to encourage South African

companies to invest in Zimbabwe.”

Over the years, South Africa has been Zimbabwe’s biggest trading partner. Last year

Zimbabwe’s exports to South Africa amounted to US$150 million while imports were about

US$1,7 billion, according to statistics from SA’s Department of Trade and Industry.

Zimbabwe continues to lag behind most Southern Africa Development Community countries in

attracting foreign direct investment, drawing a mere US$105 million in 2010, out of the US$10

billion which was poured into other Southern African economies.

Angola, which recently emerged from the ravages of a civil war, attracted US$2 billion in FDI,

followed by Zambia and South Africa at US$1 billion apiece, Namibia at US$888 million,

Mozambique US$789 million and Malawi US$140 million. Zimbabwe managed only US$105

million in FDI, after approving a total of 450 investment proposals worth US$2,8 billion during


The poor inflows have been largely attributed to negative perceptions about indigenisation and

country-risk profile. Indigenisation is an empowerment programme aimed at bringing previously

marginalised locals into mainstream economic activities.

But in the face of scepticism on perceptions on indigenisation, the country could leverage on

other comparative drawcards.

These include unrivalled mineral wealth, a stable dollarised economy, lowest inflation in Sadc

and a highly literate and skilled workforce.

Last year, Zimbabwe embarked on a similar business mission in Brazil where companies from

the biggest South American economy expressed interest in setting up business here.

Analysts have encouraged Government to target emerging economies as major sources of



SA’s Zimbabwe interests secured

SA’s Zimbabwe interests secured October 31 2012 at 10:53am South Africa’s economic interests and investments in Zimbabwe would remain protected, Zimbabwean Foreign Affairs Minister Simbarashe

Read More »

Zuma to caution Mugabe

Zuma to caution Mugabe Friday, 09 March 2012 11:33 Clemence Manyukwe, Political Editor SOUTH African President Jacob Zuma is expected to caution President Robert Mugabe

Read More »

SA envoy breaks mould on invasions

SA envoy breaks mould on invasions Thursday, 27 October 2011 18:31 Vincent Kahiya SOUTH African Ambassador to Zimbabwe Vusi Mavimbela (pictured) has sought to break

Read More »

New Posts: