adminconglomerates that indigenisation should not be misconstrued as nationalisation as is the suspicion lately as most potential foreign investors developed a wait-and-see attitude regarding investing in Zimbabwe.
“The most talked about 51 percent is for the holding of land by indigenous people partnering foreigners in this business while the 49 percent is the profit generated from the business deal for foreigners.
“We realised that foreigners alone cannot afford to improve our people’s standards of living hence involving the indigenous people,” said Mr Mupazviriho during a presentation titled, “How to Identify Opportunities in Southern African Region”.
He invited foreign companies interested in investing in Zimbabwe to take the opportunities that have been unlocked in platinum, diamond, coal and gas around the country.
In an interview with CAJ News, chief executive for Exporien Zimbabwe Mr Sam Chikowore said the delegation corrected the misconception about Zimbabwe’s mining sector following numerous inquiries about the “real issues” happening.
“We also corrected misconceptions where there was a strong belief that investment in Zimbabwe was being corrected in the so-called big office, a development most
African countries and the conglomerates understood well,” said Mr Chikowore.
He said there had been some inquiries as to the tenure of the prospects, legal instruments when one is applying for mining and the serious issue of concern about severe energy shortage in the country.
“We explained how investors could play their role, for example, in energy development since we boast (large) coal and gas reserves in the country,” said Mr Chikowore.
He said various Independent Power Producers were encouraged to explore the energy investment opportunity in order to revive the country’s power supply.
“For any economy to do well, it requires a stable energy supply hence we’re calling upon investors to come and make business in the energy sector.”
Zimbabwe has in recent years embarked on plans to empower indigenous Zimbabweans through the country’s vast mineral wealth.
This is also aimed at correcting colonial imbalances where the mineral-rich country’s wealth is controlled by the minority. — CAJ News.
Online Reporter