Online Reporter
Business Reporter
A SENIOR Zimbabwean finance executive has described the upcoming trade mission to Mauritius, organised by the Zimbabwe National Chamber of Commerce, as a “strategic effort” rather than a mere trade show.
Old Mutual Investment Group Zimbabwe managing director Ms Marjorie Mayida remarked ahead of a high-level mission to Port Louis organised by the Zimbabwe National Chamber of Commerce (ZNCC) in partnership with the Mauritius Chamber of Commerce and Industry (MCCI).
The delegation, scheduled to depart on August 18 for a five-day visit, comes as fresh data for June underscores the pressing need for Zimbabwean businesses to look beyond domestic markets.
Ms Mayida said that economic diversification is no longer a long-term aspiration but an immediate necessity amid intensifying continental competition.
“This mission is not just a trade show; it is a strategic effort,” Ms Mayida said in an interview.
“With the coming in of the African Free Continental Trade Area, competition is increasing and diversification becomes key. Mauritius is one gateway through which local businesses can explore foreign markets.”
The mission, first announced earlier this year, has taken on renewed significance as Zimbabwe confronts the reality of its modest bilateral trade with Mauritius. Official figures for 2024 put Zimbabwe’s exports to the island nation at roughly US$7 million, predominantly comprising tobacco — a figure that officials believe represents only a fraction of the untapped potential.
The delegation, expected to comprise some 40 business representatives including investors, exporters and industrial firms, will participate in a high-level business forum on August 19. This will be followed by strategic site visits to the Economic Development Board, the Stock Exchange of Mauritius, and industrial hubs including Ebene Cybercity and the Jin Fei Economic and Trade Cooperation Zone.
For Ms Mayida, whose company is one of Zimbabwe’s largest financial services players, the visit to the Stock Exchange of Mauritius is of significant importance.
“The Stock Exchange of Mauritius visit is quite critical for us. It puts on the ground engagement, which is very key, and it will give us a deeper understanding of the capital markets ecosystem and the regulatory environment in Mauritius,” she said.
“We can also learn what we can replicate here. So we’re looking forward to getting a first-hand understanding of the mechanics of listings, capital raising and any asset management activities and this will also inform our strategies back home.
“The financial services executive outlined a dual strategy for the mission: forging partnerships with Mauritian institutions to channel capital into Zimbabwe, while simultaneously enabling domestic investors to access offshore markets.
She also highlighted the potential for knowledge transfer to Zimbabwe’s recently launched Victoria Falls International Financial Services Centre.
“So basically we are looking at sharpening our financial structuring capabilities to look at cross-border deals that we can also structure for our investors in Zimbabwe,” she added.
“Mauritius, widely acknowledged as Africa’s most developed international financial centre, offers a stable regulatory environment, robust investor protection, and a proven track record as a bridge for foreign portfolio inflows — attributes that make it an ideal partner for regional investment integration, Ms Mayida said.
A key deliverable of the mission will be the signing of a Memorandum of Understanding (MoU) between the ZNCC and the MCCI, intended to cement institutional cooperation and streamline future cross-border investment.
The agreement is expected to provide a framework for regular trade delegations, information sharing on market opportunities and joint efforts to reduce non-tariff barriers that have historically constrained bilateral commerce.
Beyond financial services, the mission is targeting priority sectors including agribusiness, manufacturing, ICT, renewable energy and tourism — areas where Zimbabwe has demonstrated capacity but lacks sustained market access.
Ms Mayida framed the mission as a direct contributor to Zimbabwe’s broader economic recovery, arguing that unlocking investment through what she described as the “Mauritian corridor” would open a wave of foreign inflows while supporting export diversification and foreign currency generation.
“Unlocking investments through this Mauritian corridor, I think it will open up a wave of foreign investors and inflows coming into Zimbabwe, directly supporting Zimbabwe’s gross-investment growth,” she said.
“As I said earlier, it also provides an opportunity to explore offshore markets for local businesses, which will support exports, diversification and also support foreign currency inflows. Furthermore, I think the participation does strengthen financial corridors supporting regional integration, and it does cause Zimbabwean businesses to dominate the value chains within the COMESA and African Free Continental Trade Area.
“So I think it’s an opportunity that will feed into economic growth through improved exports as well as improved markets for local businesses, and also entrench Zimbabwe’s position in the COMESA and the continental free trade area.
“When asked what advice she would offer to fellow business owners hesitant to participate, Ms Mayida was unequivocal: “I think to my fellow business leaders, this mission is not just a trade show; it’s a strategic effort. With the coming in of the African Free Continental Trade Area, competition is increasing and diversification becomes key.
“And Mauritius is one gateway through which local businesses can explore foreign markets. So I think it’s very critical that businesses participate to explore opportunities for exports to diversify their markets from the domestic markets.
“Preliminary discussions have already been initiated with the Stock Exchange of Mauritius, while the delegation is also looking to engage investment bankers and a range of asset managers.
Further institutional partners are in the process of being identified.
The delegation is scheduled to depart on 18 August, with organisers expressing confidence that the engagements will yield tangible outcomes for both participating firms and the wider Zimbabwean economy.
