News / National
Mugabe's old age frightens potential foreign investors
19 Jan 2016 at 07:47hrs | Views
President Robert Mugabe who is battling ill health has been described as an investment risk as he is scaring away potential investors.
Mugabe is turning 92 in four weeks' time, and that pose a worry on investors, opposition parties have said.
People's Democratic Party Harare provincial spokesperson Nqobizitha Khumalo said uncertainty over Mugabe's health was a national concern, adding "no sane investor" would commit their capital where there was uncertainty over leadership.
"The old man is obviously not in the best of health. Everyone saw him tumbling at the airport. We also saw him fail to mount some very low steps in India right before world cameras," he said.
Former MDC-T Bulilima East MP Norman Mpofu said: "His (Mugabe's) occupancy of the most powerful office in the land at his age is the major source of the current economic problems.
"The President's age is responsible for the current political and economic dynamics. Politically, there is a silent conflict in Zimbabwe, as various groups are positioning themselves to take over from the ageing President, as his demise looks close."
"Local and international investors are watching and will naturally stay away, branding the country a high-risk investment destination," Mpofu said.
"Investors, irrespective of their country of origin, are cowards. For them to invest, they require a certain threshold of political stability, which is non-existent in Zimbabwe.
"All investors are aware that the current Zimbabwean President is old and they want to know who is next. They need to know the policies of the next government under a new President. No sane person can invest their assets in an environment with too many uncertainties like Zimbabwe. We will have to wait until the current President retires."
However, Presidential spokesperson George Charamba dismissed the claims.
"What is newsworthy in the opposition talking about the leader of a country? Do you want me to qualify the opposition statements that the President is old? Okay, let me ask you, if a cow moos, would you say that is news?
"The opposition parties are like that and would you expect them to say anything good about Zanu PF leaders? Let's talk about something developmental, not all this nonsense said by the opposition," he fumed.
In past two years, a chain of several potential European investors have visited the country to scout for investment opportunities.
Notable, China signed mega deals and Nigerian billionaire Nigeria's Aliko Dangote was said to be planning to pour billions of dollars into the country.
All left the country pledging to invest 'soon' but nothing has materialised.
Mugabe is turning 92 in four weeks' time, and that pose a worry on investors, opposition parties have said.
People's Democratic Party Harare provincial spokesperson Nqobizitha Khumalo said uncertainty over Mugabe's health was a national concern, adding "no sane investor" would commit their capital where there was uncertainty over leadership.
"The old man is obviously not in the best of health. Everyone saw him tumbling at the airport. We also saw him fail to mount some very low steps in India right before world cameras," he said.
Former MDC-T Bulilima East MP Norman Mpofu said: "His (Mugabe's) occupancy of the most powerful office in the land at his age is the major source of the current economic problems.
"The President's age is responsible for the current political and economic dynamics. Politically, there is a silent conflict in Zimbabwe, as various groups are positioning themselves to take over from the ageing President, as his demise looks close."
"Local and international investors are watching and will naturally stay away, branding the country a high-risk investment destination," Mpofu said.
"Investors, irrespective of their country of origin, are cowards. For them to invest, they require a certain threshold of political stability, which is non-existent in Zimbabwe.
"All investors are aware that the current Zimbabwean President is old and they want to know who is next. They need to know the policies of the next government under a new President. No sane person can invest their assets in an environment with too many uncertainties like Zimbabwe. We will have to wait until the current President retires."
However, Presidential spokesperson George Charamba dismissed the claims.
"What is newsworthy in the opposition talking about the leader of a country? Do you want me to qualify the opposition statements that the President is old? Okay, let me ask you, if a cow moos, would you say that is news?
"The opposition parties are like that and would you expect them to say anything good about Zanu PF leaders? Let's talk about something developmental, not all this nonsense said by the opposition," he fumed.
In past two years, a chain of several potential European investors have visited the country to scout for investment opportunities.
Notable, China signed mega deals and Nigerian billionaire Nigeria's Aliko Dangote was said to be planning to pour billions of dollars into the country.
All left the country pledging to invest 'soon' but nothing has materialised.
Source - Southern Eye
