The Reserve Bank of Zimbabwe (RBZ) has assured European investors that they will be able to repatriate business profits, dividends, and disinvestment proceeds without difficulty.
Speaking on behalf of the RBZ at the recent inaugural three-day EU-Zimbabwe Business Forum, Deputy Governor Innocent Matshe advised prospective investors to ensure full compliance with regulatory requirements before initiating the repatriation of funds.
Matshe said that compliance is essential for facilitating smooth transactions and enabling foreign investors to navigate Zimbabwe’s financial system more effectively. He said:
One thing that is key for foreign investors to know is the need to register their investment, because we have seen a situation where an unregistered investor comes, either through Zimbabwe Investment and Development Agency (ZIDA) or through the local banks, and try to remit their dividend, or even loan payments, repayments.
It is important that these investments be registered and once that is done, there is absolutely no issue in remitting your profit, dividends,and disinvestments.
Speaking at the same event, NMB Chief Executive Officer Gerald Gore echoed these sentiments, noting that repatriation processes have become more efficient. He urged investors to place their confidence in Zimbabwe’s regulatory authorities. Said Gore:
As banks, we are authorised dealers, who talk to RBZ Exchange control, whether it is foreign investment or local, they have to be registered, and we do the legwork to facilitate that registration.
Once the investment is registered, at the point where you want to repatriate, whether it’s dividends, interest, or the actual disinvestment, we do facilitate those remittances.
And so far, I can confirm that it has been working smoothly.
We have been able to pay dividends to our customers without any problems. So I can confirm that the process is working.
Vice President of the Bankers Association of Zimbabwe, Sibongile Moyo, noted that legacy debts from blocked funds remain a significant burden and must be urgently addressed to support Zimbabwe’s economic progress.
The inaugural three-day EU-Zimbabwe Business Forum, held under the theme “Unlocking Trade and Investment under the Global Gateway Initiative,” was organised by the EU Delegation to Zimbabwe in partnership with ZIDA, ZimTrade, and the Confederation of Zimbabwe Industries (CZI).
As part of the forum, participants visited horticulture farms, agri-processing facilities, solar farms, and mineral processing plants to strengthen EU-Zimbabwe trade and investment ties.
More: The Herald
you can believe the rbz at your own risk !!!
This has been said before to lure investors. Best be cautious.