adminIshemunyoro Chingwere
Business Reporter
A global investment catalyst firm, Africa Investors Hub, has predicted an upsurge in foreign direct investment in Zimbabwe and Africa in general due to the coronavirus pandemic that has ravaged first world countries.
The pandemic, which has claimed more than 266 000 lives worldwide, has hit the global economy particularly major capital destinations in Europe and North Africa.
Africa Investors Hub, which prides itself in assisting entrepreneurs to source capital, says Africa which has not been as hit as Europe, could become a prime capital investment centre post the pandemic period.
The firm has to date seen an upsurge on its register as investors seek opportunities in the post Covid-19 period. To this end, the firm is already organising an investment dinner in Zimbabwe that has tentatively been set for August or September depending on the progress in the fight against the pandemic.
Africa Investors Hub works with different private investors around the world and one of its active investors has a hedge fund that manages over US$2, 7 billion. In Zimbabwe, it has the nod of several foreign organisations as well as the embassies of Russia, Spain and Netherlands.
“Covid-19 acts like a major propeller of foreign investments in Africa at the moment since a lot of angel investors, institutional investors and venture capitalists are registering in our data base to fund various investment decks under Africa Investors Hub,” said the investment vehicle in a statement.
“The major rationale of investing in Africa according to the investors is the fact that most European countries have been affected by Covid-19 . . .
“A lot of global capital will come through to fund our hundreds of start ups and some of the investors have already selected our projects for funding.
“We are looking to have an investment dinner in August or September where foreign and local investors, prominent business people, foreign ambassadors in Zimbabwe as well as government top people will come on board,” reads the statement.
Zimbabwe, under the new dispensation, is already running with the “Zimbabwe is open for business” theme that has seen the country restrategising on several fronts in a bid to lure investment.
Online Reporter