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UK Diaspora sends investment mission to Zimbabwe

by Staff reporter
07 Dec 2017 at 14:07hrs | Views
The Zimbabwe Diaspora Investment Group Limited (ZiDIG), a private equity investment consortium launched by Zimbabweans based in the UK, will lead an investment mission of Diaspora investors to Zimbabwe in January 2018.

The Zimbabwe Diaspora Trade and Investment Mission, which will include at least 20 Zimbabwean professionals and entrepreneurs based in the UK, is set to meet with senior government officials, business leaders and trade bodies to explore various investment opportunities for Zimbabwe's Diaspora.

"We are finalising our itinerary for the trade mission which we will publicise shortly" said ZiDIG's chief executive officer Taffi Nyawanza said.

Nyawanza said he had always been an optimist when it came to Zimbabwe as an investment destination for the Diaspora population and the developments in the country in the last two weeks of November have added an exciting dimension for ZiDIG.

"We were certain that change was imminent when we set up ZiDIG and our timing as well as faith in the country and its opportunities have been vindicated," said Nyawanza, a practising lawyer and principal solicitor at UK legal firm Genesis Law Associates.

He said although ZiDIG already had plans in place to launch its Zimbabwe offices, the changes in the country have made it necessary to include an investment mission comprised of Diaspora investors with interests in various sectors of the economy.

"We believe that Zimbabwe is an exciting investment destination and we have reached out to various institutional investors who are equally excited about investing and unlocking value in the economy and creating jobs".

The mission, in the 10 days, is expected to sign various agreements that will lead to the efficient channelling of Zimbabwean Diaspora investment funds into the country.

ZiDIG in February at its launch in UK's second city Birmingham, raised from its founding shareholders  £100 000 into a seed fund to leverage larger institutional investor funding.

In addition to this, the consortium recently secured a grant from a UK Developmental Institute to, among other things, open an operations office in Harare, Zimbabwe.

The Zimbabwe operations head office opened in Eastlea in Harare will coordinate Diaspora trade and investment activities including carrying out due diligence on projects and businesses seeking foreign investment.

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Source - dailynews
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