Zim Cannot Attract Investment If Investors Cannot Take Their Money Out Of The Country- Mthuli Ncube

Finance and Economic Development Minister Professor Mthuli Ncube yesterday said investors cannot invest in Zimbabwe if they cannot take their money out of the country.

He said this while addressing delegates at a “Road to Davos” townhall meeting held in Harare. Said Ncube:

The issue is shortage of forex with the corporates, the silver bullet is about currency reform, if we get that right the corporates can access foreign currency whenever they need it, the currency reform agenda is also impeding foreign investment, if investors cannot take their money out of the country then we cannot attract investors. A long term solution to the crisis is, currency reforms, currency reforms, and currency reforms; and ending arbitrage opportunities in the market, accepting the US dollar as the only legal tender is not currency reform, its submission. As a nation if we accept US dollar as our sole currency, then it means that we are afraid of currency reform and that’s capitulation.

More: Chronicle

Mthuli Ncube

Professor Mthuli Ncube is the Minister of Finance and Economic Development.He was the Chief Economist and Vice President of the African Development Bank ,financial, economics, investment, and public policy expert, entrepreneur and academic. Professor Ncube divides his time between the private sector in Switzerland and... Read More About Mthuli Ncube


Back to top

One Comment on “Zim Cannot Attract Investment If Investors Cannot Take Their Money Out Of The Country- Mthuli Ncube

  1. You are right Mthuli. 100%right. In the mean time, how can they keep their money in the country when they will wake up over night and be told, all your usd100000 has been confiscated into bond note. Or, all your has been taken by the government. Thats why all diasporans dont save in Zimbabwe as well. They really want to. But if you do, you will one day be disappointed.

Write a Comment

Your email address will not be published.