Business / Economy
Investor interest sharpens in Imara Zimbabwe conference
13 May 2013 at 17:24hrs | Views
The Zimbabwean government's quarterly report on the state of the economy has sharpened investor interest in the progress being made in the mining and agricultural sectors ahead of the upcoming Imara investor conference.
The quarterly update from Finance Minister Tendai Biti confirms the potential within these strategic industries, notes Tino Kambasha, Executive Director at Imara Zimbabwe, co-conference organisers with South Africa-based Imara Africa Securities.
The conference on June 2-5 in Harare is the fifth annual event organised by the pan-African financial services group and its operating companies. Kambasha points out: "The government's quarterly 'report card' spotlights two of the sectors that are heavily featured in our conference programme - mining and agri-business - and though challenges are acknowledged, the potential for growth is evident, especially for businesses that attract sufficient capital for expansion."
Government figures on the tobacco sector, a key contributor to the national economy, show that cumulative deliveries to 22 March 2013 were 34.1 million kilograms at a value of USD126.5 million while the average price has firmed from USD3.69 last year to about USD3.71 per kilogram.
Mining output in January and February rose, particularly for platinum, coal, nickel and chrome. Performance is in line with production targets outlined in Zimbabwe's 2013 Budget Macro-economic Framework.
The mining focus at the Imara conference is reflected by delegate visits to the Freda Rebecca and Dalny gold mines, the Trojan nickel mine and the Bindura smelter and refinery complex. In addition, senior executives from Zimplats, New Dawn Mining and Mwana Africa will be making presentations.
Agri-business is also strongly featured, with presentations scheduled from key contributors to the sector, including Padenga Holdings, Dairibord Holdings and Aico/Seedco. In addition, an overview of the tobacco industry will be presented.
The conference at Harare's Meikles Hotel also features visits to production lines at manufacturing companies.
A strong turnout by international investors, fund managers and analysts is expected.
Says Tino Kambasha: "Our format enables analysts and investors to go beyond the numbers and official projections to developments on the ground, enabling delegates to gauge progress for themselves. This innovation has been applauded and ensures close engagement."
The quarterly update from Finance Minister Tendai Biti confirms the potential within these strategic industries, notes Tino Kambasha, Executive Director at Imara Zimbabwe, co-conference organisers with South Africa-based Imara Africa Securities.
The conference on June 2-5 in Harare is the fifth annual event organised by the pan-African financial services group and its operating companies. Kambasha points out: "The government's quarterly 'report card' spotlights two of the sectors that are heavily featured in our conference programme - mining and agri-business - and though challenges are acknowledged, the potential for growth is evident, especially for businesses that attract sufficient capital for expansion."
Government figures on the tobacco sector, a key contributor to the national economy, show that cumulative deliveries to 22 March 2013 were 34.1 million kilograms at a value of USD126.5 million while the average price has firmed from USD3.69 last year to about USD3.71 per kilogram.
Mining output in January and February rose, particularly for platinum, coal, nickel and chrome. Performance is in line with production targets outlined in Zimbabwe's 2013 Budget Macro-economic Framework.
Agri-business is also strongly featured, with presentations scheduled from key contributors to the sector, including Padenga Holdings, Dairibord Holdings and Aico/Seedco. In addition, an overview of the tobacco industry will be presented.
The conference at Harare's Meikles Hotel also features visits to production lines at manufacturing companies.
A strong turnout by international investors, fund managers and analysts is expected.
Says Tino Kambasha: "Our format enables analysts and investors to go beyond the numbers and official projections to developments on the ground, enabling delegates to gauge progress for themselves. This innovation has been applauded and ensures close engagement."
Source - news