'Zimbabwe has investment potential,' says Minister Chinamasa

Zimbabwe has investment  potential for South Africa, with a diversity of resources, Finance and Economic Development Minister Patrick Chinamasa said on Friday.

"We are not a basket case. The potential we have is enormous," he told a business breakfast in Johannesburg hosted by Zimbabwean newspaper The Herald Business.

"We are open and ready for investment from South Africa. I believe you have a moral and business obligation to invest in your neighbour."

Chinamasa said prosperity should be shared and Zimbabwe was looking for a "permanent relationship" with South African investors.

Zimbabwe had been "through hell" since 1998, but the worst was now over, he said.

"We are about to run, to sprint. We are looking for partners to sprint with us," he said.

"We are not an island, we need to go back into the global economy to play our part."

Chinamasa said Zimbabwe was looking for capital from investors, and was on the right track to ensure food security and nutrition and to eradicate poverty.

Strategies were in place to deal with the policy environment to ensure consistency, continuity, and clarity, he said.

Chinamasa said potential investors need not worry about the country's debt.

"We are not insolvent. We have now crafted a path towards our destiny of economic growth and prosperity."

Zimbabwe had a diversity of resources, including educated people.

Chinamasa told potential investors Zimbabwe had a huge infrastructure deficit, including roads, housing, and general infrastructure.

"This infrastructure gap is basically an opportunity for you, the investors ."

Zimbabwe had 40 types of minerals, including gold, platinum, and coal, he added.

It was important that Zimbabwe change its relationship with developed countries. It was working towards building links between various sectors, structural changes had taken place, and there was "sustained political stability".

"The reality is we are now politically stable. The perception that you have that we don't respect private property is not true. The land issue has been addressed."

He said unless Zimbabwe became as prosperous as South Africa, Zimbabweans would continue to "bother" the country by crossing the border to find work.