Online Reporter
More than 60 EU companies and more than 150 local companies are gathered in Harare for the inaugural EU-Zim Business Forum.
The EU-Zimbabwe Business Forum aims to catalyse trade and investment between the European Union and Zimbabwe, leveraging the Economic Partnership Agreement (EPA) and the Global Gateway initiative to unlock new opportunities for economic growth and cooperation.
Our Business Reporter Michael Tome is at a Harare hotel and will provide live coverage of the forum.
A rare opportunity to engage
Representing the Minister of Foreign Affairs and International Trade, Professor Amon Murwira, Permanent Secretary Ambassador Albert Chimbindi said the forum provides a platform for Zimbabwean and European businesses to engage in direct dialogue and networking, promoting mutual understanding and trust.
“This forum is an opportunity to facilitate direct dialogue and networking between Zimbabwean businesses and their European counterparts, fostering understanding and building trust.
“We are particularly encouraged and energised by the overwhelming response to this forum, evidenced by the impressive registration of 200 companies from across Europe and Zimbabwe in the first quarter of 2025,” he said.
European Ambassador to Zimbabwe Jobst von Kirchmann said the EU sees substantial potential for collaboration with Zimbabwe, particularly in value chains such as mining, horticulture, agriculture, and renewable energy.
“The European and Zimbabwean private sector are here to open doors and make sure that they stay open. We would like all the businesses participating here to get a clear picture of available opportunities.
“We believe there are significant opportunities, including value chains in mining, horticulture, agriculture, and renewable energy. We believe there is a good opportunity for cooperation with Zimbabwe,” said the EU Ambassador.
The forum is running under the theme “Unlocking Sustainable Trade and Investment under the Global Gateway”.
Re-engagement bears fruit as EU companies converge in Harare
Companies participating in the forum are from European countries, including France, Germany, Austria, Finland, Poland, the Netherlands, Italy, Sweden, Belgium, Spain, Portugal, and the Czech Republic, a development that has not occurred in many years.
This signals the dividends being realised from the engagement and re-engagement drive spearheaded by the Second Republic under the leadership of President Mnangagwa.
RBZ assures European investors of easy profit repatriation
The Reserve Bank of Zimbabwe (RBZ) has assured European investors that if they set up their businesses in Zimbabwe, they can easily repatriate their profits and dividends back to their home countries.
This commitment aims to alleviate concerns about foreign exchange controls and provide a secure environment for European investors to operate in Zimbabwe.
By offering this guarantee, the RBZ seeks to boost investor confidence and attract more foreign direct investment into the country.
Deputy Governor Dr Innocent Matshe said foreign companies must properly register their investments before seeking repatriation of funds.
Reserve Bank of Zimbabwe Deputy Governor Dr Innocent Matshe
He emphasised the RBZ’s strict stance on this issue, given the need to build and promote confidence in local financial systems.
Zimbabwe praised for timely loan repayments
EU Ambassador to Zimbabwe Jobst von Kirchmann has praised Zimbabwe’s private sector for timely loan repayments.
This positive assessment highlights Zimbabwe’s commitment to honouring its financial obligations, which is likely to enhance the country’s credibility and attract more investment from the European Union and other international partners.
The ambassador’s remarks underscore the strengthening relationship between Zimbabwe and the EU, which is built on trust and cooperation.
European Union Ambassador to Zimbabwe Jobst von Kirchmann
The European Investment Bank and PROPARCO (a development finance institution partly owned by the French Development Agency and private shareholders from developed countries) have provided close to $100 million to four local banks, with more facilities under consideration.
NMB received $39 million, First Capital Bank ($14 million), CABS ($17 million), and Stanbic ($28 million).
Much of the loans were directed towards agriculture, the food industry, and renewable energy.
