SA investors jostle for Zim

conference in South Africa earlier this month.

“Ever since that conference in South Africa I will tell you that we have received investment proposals worth around US$1,5 billion to US$1,6 billion from investors in South Africa,” he said, adding one of the investors wanted to set up a five-star hotel in the country.

Minister Mashakada was addressing delegates attending the Zimbabwe-South Africa Trade and Investment Conference held at the 54th edition of the Zimbabwe International Trade Fair.

He said other investors wanted to set up projects including a diamond cutting and polishing centre, while another one was interested in a gold refinery.
“We also have another one who has shown huge interest in the National Railways of Zimbabwe and yet another one who wants to set up a sugar refinery plant in the Lowveld,” he said.

The minister said the country offered a lot of investment opportunities in various sectors.
Speaking at the same occasion, South African Ambassador to Zimbabwe Mr Vusi Mavimbela reiterated his country’s commitment to improving Zimbabwe’s economy.

Ambassador Mavimbela said this was being done through providing funding for infrastructure projects as well as unveiling budgetary support to Zimbabwe.
“There are a lot of efforts happening at many levels. We have provided credit lines and budgetary support through Treasury and the Reserve Bank of Zimbabwe and we are going to continue doing that,” he said.

South African Deputy Minister of Trade and Industry Ms Elizabeth Thebethe told the same gathering that, with the right trade policies, Zimbabwe was bound to fully recover.
Deputy Minister Thebethe urged Zimbabwe to create strong trade synergies with Sadc countries and South Africa in particular as it was the continent’s biggest economy.

“Zimbabwe is a country with vast potential for growth, investors can leverage on the resources, high skills base and high literacy rate found in Zimbabwe.
“I believe our two countries have the potential to be at the forefront of reclaiming Africa’s position in the global economy,” she said.

South Africa is Zimbabwe’s largest trading partner with imports including food, ICT products and textiles while it exports mostly minerals like platinum down south.
Official data shows that total trade volumes between Zimbabwe and South Africa reached US$5,8 billion last year from US$4,6 billion in 2011.- New Ziana.