Chinese billionaire commits to invest in Zimbabwe

ONE of China's top billionaires, Mr Li Jinyuan, has committed to invest in Zimbabwe after he held talks with President Emmerson Mnangagwa last week.

Mr Li, who is chairman and chief executive of Tiens Group, has a net worth of over US$5 billion, according to Forbes Magazine. He is also a renowned philanthropist. His company Tiens has established a firm footprint through direct selling of healthcare products and providing employment to thousands of people.

Speaking to journalists after a closed door meeting with President Mnangagwa, Mr Li gave the thumbs up to the Zimbabwe is open for business mantra.

"I talked to the President and he explained to me various issues about how he is reforming the country especially after the recent elections. He informed me that the message from his Government is that Zimbabwe is open for business. I told him that I fully support this agenda and, given the good relations between Zimbabwe and China, I am willing to do what I can," he said.

Mr Li said his company was interested in investing in several sectors in Zimbabwe, as part of the Tiens Group's expansion strategy into Africa.

"This time around, our company's executives have decided to come to South Africa and Zimbabwe because these are important countries to our companies.

"In Africa we have a presence in 46 countries and this time our plan is to implement the Tiens new business strategy. This business strategy is our third entrepreneurial venture and it is called 'One Body Multiple Wings'. Through this strategy we are opening companies around the globe and the multiple wings involve different sectors of businesses which are going to be linked together," said Mr Li.

The Chinese billionaire said he was willing to invest more in the pharmaceutical sector after President Mnangagwa informed him of the challenges being faced in supply of drugs.

"We also spoke about the pharmaceutical sector and the President said there is great need for pharmaceutical products in the country. I told him that Tiens is already well established in Zimbabwe and we are now prepared to invest more.

"My investment will be determined by the needs required. After assessing the needs, I will be able to determine how much I can invest," he said.

Mr Li said possible sectors for investment include e-commerce, financial marketing, engineering and real estate.

In line with his acclaimed philanthropy, Mr Li said he had decided to partner First Lady Auxillia Mnangagwa to support her charity programmes. He also donated US$5 000 in cash to the Zimbabwe Parents of Handicapped Children Association in Hatfield as part of his "give a hand of friendship and love" initiative.

Mrs Miriam Kangai, the patron of the Tiens Group in Zimbabwe, said the country would derive huge benefits from increased investments by the company.

"The company is contributing a lot to the good health and well-being of the people through its healthcare products. Increased investment by the company will lead to the creation of more jobs given that there are already thousands of people who are working under the company," she said.

The Tiens Group was established 24 years ago and runs businesses in 190 countries. Nearly 40 million families work directly with Tiens as clients or consumers of its products and services.