Russia to invest in Zimbabwe

The delegation held meetings with the Reserve Bank of Zimbabwe, Zimbabwe Investment Authority officials and Zimbabwe Chess Federation officials.
Head of delegation Mr Robert Hersov said his team was looking for investment opportunities in Zimbabwe in all aspects of the economy.

“Zimbabwe has potential for investment because it has a lot of resources. We are interested in the food, real estate, energy and mining sectors.
“Our visit is, therefore, motivated by this desire and that is why we have embarked on this tour of Africa as we seek to consolidate on other investments that we have on the continent,” he said.

ZIA chief executive Mr Richard Mbaiwa expressed optimism that the visit will result in deals being sealed with locals.
He added that the visit was a welcome development as it shows the confidence the delegation had in the country.

“This is welcome because as ZIA we strive to harness investment by ensuring we offer a conducive environment for potential investors, so when visitors show interest in our economic activities we encourage them to look at all sectors as they all present investment opportunities,” he said.

Mr Mbaiwa said Zimbabwe had been cast in the limelight through this visit due to the influence and resources that Kasparov has.
He said it was critical that the country leveraged on this to showcase opportunities that it has to offer.

Mr Kasparov was also making a follow-up on the progress of the Kasparov Chess Foundation Africa that was officially launched in March last year in South Africa.
The foundation seeks to bring educational benefits of chess to both children and adults throughout the African continent.

The delegation later left for South Africa. Prior to its arrival in the country it had been to Kenya, Uganda, Malawi and the DRC.
Zimbabwe has received inquiries from various countries including Mauritius, India, South Africa and China, a sign of the confidence that investors have in the country’s resources.

The country’s economy has been growing steadily at an average of 7,3 percent since 2009 while this year it is projected to grow by 5,2 percent.
Government has also taken the bold decision towards resolving the country’s external debt that stands at just above US$10 billion through the adoption of an IMF staff-monitored programme.