Byo hosts trade, investment indaba

Bianca Mlilo, Business Reporter
THE Zimbabwe National Chamber of Commerce (ZNCC) today hosts its annual Trade and Investment Opportunities Conference in Bulawayo with a focus on increasing synergies between local and foreign investors.

The crucial event is expected to culminate in the signing of the ZNCC-Zimbabwe business connection memorandum of agreement.

The conference, which is in its fourth edition, will focus on synergies with Zimbabweans in South Africa who seek to invest in Zimbabwe through the South Africa Zimbabwe Business Connection.

ZNCC is pushing for synergies with its regional partners and is opposed to borrowing for recapitalisation of Zimbabwean firms.

“We are promoting recapitalisation of Zimbabwean firms through equity as opposed to debt. We believe that debt is an expensive form of capital, which Zimbabweans cannot afford at present.

“As such we are encouraging mergers and acquisitions as a means of recapitalising and reviving our local firms,” said ZNCC in a statement.

“It is our hope that this initiative will yield the desired dividend and that the wheels of industrial reform will commence henceforth.”

The one-day conference will run under the theme “Regional Synergies for Investment Success”.

Industry and Commerce Minister Dr Mike Bimha would grace the occasion. Youth, Indigenisation and Economic Empowerment Minister Patrick Zhuwao and Dr Obert Mpofu who heads the Ministry of Macro-Economic Planning and Investment Promotion would also attend.

The president of the South Africa-Zimbabwe Business Connection, Mr Justice Maphosa, will give the keynote address while Dr Khuphukile Mlambo, the deputy governor of the Reserve Bank of Zimbabwe, will make a presentation on Zimbabwe’s economic outlook, post- bond notes introduction.

Also officials from the Zambia Development Agency, Botswana Investment Trade Centre, Johannesburg Chamber of Commerce and Industry would attend.

Zimbabwe Investment Authority chief executive officer Mr Richard Mbaiwa will present on the investment climate in Zimbabwe. — @BiancaMlilo