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Britain invests US$1.9 billion to Zimbabwe

by Mandla Ndlovu
17 Feb 2020 at 05:40hrs | Views
United Kingdom Ambassador to Zimbabwe Melanie Robinson says companies from the former colonial power have invested about US$1.9 Billion into Zimbabwe.

Robinson however, said the laws of Zimbabwe were making it difficult for the companies to fully do business.

Said the Ambassador, "We have $1.9bn existing investments. But British companies repeatedly say the impediments to more investment are FX/exchange rate issues, lack of investible 99-year leases and weak confidence in the rule of law. Sanctions play no role."

Robinson was responding to France  Ambassador to Zimbabwe, Richard Boidin who said the restrictive measures imposed against the southern Africa nation should not affect the country's growth.

Speaking in Harare last week, Boidin said, "That a company like Saint-Gobain decided to invest in Zimbabwe, is a strong message alongside other French companies and brands like Lafarge Lessafre, AGS and Total operating locally.

The Harare Administration has been blaming the sanctions as the reason behind the economic collapse of the country.

The African Union and SADC have adopted resolution that seek to lobby for the removal of sanctions against Zimbabwe.

Harare has hired lobbyists in the United States of America to lobby Congress.

Source - Byo24News