Mugabe meets French investors, clarifies indigenisation

A French business delegation that is the country has acknowledged that lack of clarity regarding Zimbabwe's 51/49 percent indigenisation policy was scaring away potential investors.

The delegation held a meeting with President Robert Mugabe at State House in Harare and applauded him for fully explaining that the policy only relates to resource based operations.

The French delegation comprising representatives of major global companies was accompanied by the French Ambassador to Zimbabwe, Mr Laurent Delahousse and Zimbabwe's Finance Minister, Patrick Chinamasa when they met President Mugabe.

Head of the delegation, Mr Gerard Wolf, who is also the Vice Chairperson of the Africa Committee of Medef, said French investors have expressed willingness to invest in Zimbabwe, adding that clarification proffered by Mugabe will go a long way in boosting investor confidence.

Ambassador Delahousse promised President Mugabe in 2013 when he presented his credentials that France will kickstart a new relationship with Zimbabwe and today's meeting was in fulfillment of that promise.

Mugabe said Harare's standoff with London is a bilateral issue and Zimbabwe has remained open to France.

Speaking to journalists after the meeting, Chinamasa said the clarification made by President Mugabe relating to the 51/49 policy is set to attract meaningful foreign direct investment that supports sustained economic growth and development.

Medef represents French private sector at the international level and has over 800 000 companies across the globe affiliated to the organisation.

The investors have expressed interest in a coal project in Binga which will be a joint venture with the Chinese.