‘French firms in Zim for long haul’

Oliver Kazunga Senior Business Reporter
FRENCH companies are planning long-term investment in Zimbabwe as relations between Harare and the European Union (EU) improve, France Ambassador to Zimbabwe Laurent Delahousse has said. He said the country’s re-engagement efforts with the West have enhanced investor confidence between the two parties after years of frosty relations.

“Relations between Zimbabwe and the EU are improving because the situation inside Zimbabwe has improved a lot and French companies look at Zimbabwe for long-term investment,” said Delahousse. “They aren’t into hit and run short-term deals, they’re looking at Zimbabwe to sign long-term win-win business relationships. A long term relationship takes time to establish and that’s what some of these French companies are working on and we’ll announce the results of the discussions when they come.”

A number of French firms have shown keen interest in setting up business in the country. A few months ago a delegation from 10 French companies visited Zimbabwe to explore investment opportunities in various economic sectors. “There’re also companies looking at the water and energy sectors, so I hope and I’m confident that they’ll be French presence in Zimbabwe by major French companies in all infrastructural sectors, which are so important for Zimbabwe,” said the envoy.

“Energy for instance, will be a bottleneck for the development of Zimbabwe especially in the face of climate change. The production capacity of Kariba Dam is unfortunately not what it should be. I hope it would be possible very soon to launch projects that will bring additional power generation to Zimbabwe.”

Delahousse said Zimbabwe was endowed with vast coal reserves, which French companies could tap into. He said his country was also working around the development of renewable energy projects in Zimbabwe using modern technologies. “The main realisation in the last few years by the authorities of Zimbabwe is that this country needs investment from all over the world. Zimbabwe has very active friends in the East but that isn’t enough, you need technologies, projects and ideas coming from everywhere,” he said.

Delahousse commended the government for engaging in a very positive manner concerning reforms on attracting businesses. “Some changes in the implementation of the indigenisation policy have been brought forward to make it more transparent and understandable by from investors. “We’re already starting to see the results in these economic policy evolutions,” he said.