Zimbabwe has pledged support for UK-based potential investors intending to invest capital in the southern African nation.
The country’s ambassador to the UK, Ambassador Christian Katsande implored the investor community to tap into Zimbabwe’s vast economic opportunities, especially in the Special Economic Zones (SEZ), mining, agriculture, and manufacturing.
Speaking at the virtual Zimbabwe Finance Conference (ZFC) organised by the Financial Markets Indaba Wednesday, Ambassador Katsande said:
-Special Economic Zones have been established in Harare Sunway City, Bulawayo, Fernhill in Mutare and Victoria Falls. Companies are expected to be established in medicals and manufacturing and chrome mining._
_Distinguished guests, Zimbabwe is open for business and the embassy is ready to facilitate and assist you as you explore vast opportunities back home._
Speaking at the same conference, the deputy director in the Economic Research and Policy Division at the Reserve Bank of Zimbabwe (RBZ), Nebson Mupunga urged UK-based investors to tap into the obtaining recovering economic environment. Mupunga said:
_To date, the central bank has managed to create a conducive environment and as we proceed, we expect banks to offer more attractive products for the banking and investing public. Interest rates for deposits have been reduced to 2.5% by the central bank in a bid to motivate long-term deposits._
Investors have not been willing or unable to invest in the revival of the country’s economy due to unfavourable government policies and high-level corruption among senior government officials in getting their businesses approved.
Participants at the virtual Zimbabwe Finance Conference also called for fundamental domestic savings mobilisation and confidence restoration to drive economic growth.