Mnangagwa courts investors

President Emmerson Mnangagwa held a meeting with top business executives attending the African edition of the World Economic Forum (WEF) on Wednesday and urged them to invest in "a Zimbabwe, which guarantees safety of investments".

He told the executives at a Zimbabwe country dinner that the government was carrying out deep economic reforms, both legislative and structural, to remove hurdles to economic growth and investment, and improve appeal to business.

"I'm aware that investors often inquire on whether they will be able to remit their investment proceeds. My answer is yes, the protection of private property rights is guaranteed and foreign investors are free to remit their investment proceeds, in accordance with our laws," said the President.

"I want to assure you that my administration is unwavering in its commitment to a safe, open, predictable and transparent investment and business environment," he said.

The President said there were opportunities for investment in all sectors of the economy.

"There is huge potential for investment opportunities in the entire agriculture value chain. Private investments are equally encouraged for modern commercial livestock breeding and processing.

"We are open to investments and businesses towards increasing our tourism products and leisure infrastructure, which can be jointly marketed with similar products in the region," he said.  

Zimbabwe is currently in the process of upgrading and modernising its transport infrastructure, which includes road and rail networks.

"We are open to investors along the joint venture partnerships and private public partnership models in the development of the road and rail infrastructure along major trade routes linking the North-South and East and West transport corridors," said President Mnangagwa.  

The country is currently facing power shortages, which see consumers going for several hours without electricity. But the President said government had put in place strategies, which will see the country transcending from being a net importer to a net exporter of energy in the near future.

"In view of the need to mitigate climate change and reduce carbon emissions, the development of green energy solutions, provide additional business opportunities," said President Mnangagwa.

President Mnangagwa is in South Africa attending the 28th WEF for Africa, aimed at boosting intra-African trade.