Tinaye Agere
Emmanuel Kafe
ZIMBABWE is among the top 10 attractive investment destinations in Sub-Saharan Africa being considered by a select group of global investors, it has been learnt.
A recent report by multinational accounting firm KPMG titled “Doing Deals in Sub-Saharan Africa” has ranked Zimbabwe 10th on the list of African countries to watch for future investments.
The country, which is considered one of the fastest-growing economies in the region, is listed 10th after South Africa, Nigeria, Tanzania, Ghana, Kenya, Mauritius, Zambia, Uganda and Mozambique.
According to the report, 6 percent of the respondents to its survey said they would definitely consider investing in Zimbabwe over the next two years.
The major drawcards for investors in the region, particularly in Zimbabwe, were identified as “abundant natural resources, including oil, minerals and agricultural produce”.
“In fact, just under three-quarters of respondents (74 percent) say they are considering an acquisition or investment in SSA (Sub-Saharan Africa) in the next two years, including 71 percent of international investors who report this,” reads part of the report.
“Additionally, 77 percent of all respondents are considering injecting more capital into existing acquisitions, indicating a commitment to expanding their presence in the region.
“More developed African markets are expected to benefit the most from this positive trend.
“The top destinations for future investment in SSA are South Africa, favoured by 50 percent of respondents, followed by Nigeria at 30 percent.
“These are the largest economies in Africa, offering substantial market opportunities and, in the case of Nigeria, a significant consumer base, with the country boasting a population of more than 220 million.”
The report states that at least 1 percent of the major investment acquisitions recorded in the region last year were made in Zimbabwe, with 9 percent of the investments headquartered in the country.
These investment deals were estimated to be valued at between US$150 million and US$250 million, signalling significant confidence in Zimbabwe’s economic prospects.
Sub-Saharan Africa has long been recognised as a region of immense potential, with 46 of Africa’s 55 countries classified as part of this vibrant economic zone.
Over the past year, the country, through economic diplomacy, has been on a charm offensive to woo investors from across the globe.
Online Reporter