Business / Economy
Corporate Zimbabwe planning mega charm offensive - Imara
23 May 2012 at 08:53hrs | Views
Corporate Zimbabwe is gearing up for one of the biggest 'charm offensives' since the dollarisation of the country's economy, according to Imara, the pan-African investment banking and asset management company.
The corporates will be looking to impress the many visiting international investors, fund managers and deal-makers who have confirmed their attendance at the Zimbabwe Investor Conference organised by Imara for May 23-24.
"Zimbabwean corporates have a compelling story to tell," says Tino Kambasha, head of sales and trading at Imara Zimbabwe, co-conference organisers with its Botswana-based parent, Imara Holdings.
Many of the incoming conference delegates are only too happy to listen.
Kambasha explained: "Some are jetting in from a Eurozone that this week reported zero first-quarter growth. They arrive at a time when Zimbabwe is looking forward to 2012 growth of 9,4%.
"This projection, made recently by Economic Planning minister Tapiwa Mashakada in the macro-economic framework for 2012, comes on top of 9,3% growth in 2011.
"Obviously, the Zimbabwean base is much smaller, but the stark difference in growth prospects will have a big impact nevertheless."
The corporates will look to build on the favourable macro picture by pointing to their own improved earnings and volumes, said Kambasha.
He added: "Many local companies have achieved impressive momentum since the return of currency stability. In the last week two substantial companies have reported full-year earnings growth of 20% and 38%.
"Double-digit earnings growth is a distant memory in some developed markets, suggesting that some conference attendees will be highly receptive to a message like this."
International investors from North America, Europe and the Middle and Far East also bring something tangible to the table â€" the prospect of direct investment and new partnerships.
"It takes two to form a relationship," noted Kambasha, "and some local corporates will also be eager to consider new partners as they are looking to recapitalise ahead of further expansion.
"So one party is looking for better returns while the other is extremely keen to attract growth funding. Our conference is a high-level forum for industry and company-specific information-sharing, but in view of special factors in 2012 it also has the potential to develop into the investment industry equivalent of a dating service."
Imara organised the first in-country investor conference in Zimbabwe following the creation of an inclusive government and has organised follow-up conferences every year since.
Up to 100 investors are expected at the 2012 event, including fund managers representing many different equity funds.
Corporate presentations will be made by senior executives from organisations across the Zimbabwean economy, including BAT Zimbabwe, the Chamber of Mines, New Dawn, Padenga, Zimplats, Dairibord Zimbabwe, Aico/Seedco, Mashonaland Holdings, Masawara Plc, Rio Zimbabwe, TA Holdings, OK Zimbabwe, Edgars Stores and Econet Wireless Zimbabwe.
The corporates will be looking to impress the many visiting international investors, fund managers and deal-makers who have confirmed their attendance at the Zimbabwe Investor Conference organised by Imara for May 23-24.
"Zimbabwean corporates have a compelling story to tell," says Tino Kambasha, head of sales and trading at Imara Zimbabwe, co-conference organisers with its Botswana-based parent, Imara Holdings.
Many of the incoming conference delegates are only too happy to listen.
Kambasha explained: "Some are jetting in from a Eurozone that this week reported zero first-quarter growth. They arrive at a time when Zimbabwe is looking forward to 2012 growth of 9,4%.
"This projection, made recently by Economic Planning minister Tapiwa Mashakada in the macro-economic framework for 2012, comes on top of 9,3% growth in 2011.
"Obviously, the Zimbabwean base is much smaller, but the stark difference in growth prospects will have a big impact nevertheless."
The corporates will look to build on the favourable macro picture by pointing to their own improved earnings and volumes, said Kambasha.
He added: "Many local companies have achieved impressive momentum since the return of currency stability. In the last week two substantial companies have reported full-year earnings growth of 20% and 38%.
"Double-digit earnings growth is a distant memory in some developed markets, suggesting that some conference attendees will be highly receptive to a message like this."
International investors from North America, Europe and the Middle and Far East also bring something tangible to the table â€" the prospect of direct investment and new partnerships.
"It takes two to form a relationship," noted Kambasha, "and some local corporates will also be eager to consider new partners as they are looking to recapitalise ahead of further expansion.
"So one party is looking for better returns while the other is extremely keen to attract growth funding. Our conference is a high-level forum for industry and company-specific information-sharing, but in view of special factors in 2012 it also has the potential to develop into the investment industry equivalent of a dating service."
Imara organised the first in-country investor conference in Zimbabwe following the creation of an inclusive government and has organised follow-up conferences every year since.
Up to 100 investors are expected at the 2012 event, including fund managers representing many different equity funds.
Corporate presentations will be made by senior executives from organisations across the Zimbabwean economy, including BAT Zimbabwe, the Chamber of Mines, New Dawn, Padenga, Zimplats, Dairibord Zimbabwe, Aico/Seedco, Mashonaland Holdings, Masawara Plc, Rio Zimbabwe, TA Holdings, OK Zimbabwe, Edgars Stores and Econet Wireless Zimbabwe.
Source - Business
