German investors interest in Zim rises

A surge in inquiries from German investors seeking to establish operations in Zimbabwe signals a renewed and unprecedented interest in doing business with the country, an official has said.

The re-engagement efforts championed by President Mnangagwa and his administration were clearly yielding positive results, Ms Victorine Boke, who facilitates engagements for German investors seeking opportunities in Africa said.

Ms Boke was recently in Zimbabwe, for the second time, with a delegation seeking business opportunities in the country.

In an interview with this publication, she said the Government’s business-friendly policies had fuelled a surge in inquiries from German investors interested in Zimbabwe.

“The renewed interest by some German companies to do business with Zimbabwe is at its peak,” said Ms Boke.

“We are receiving more and more demands from German companies, to facilitate their business engagements with and in Zimbabwe.

“The re-engagement drive espoused by His Excellency President Mnangagwa and his Government is definitely paying dividends.”

Zimbabwe has been actively seeking to re-engage with the international community, including the European Union (EU), of which Germany is a member.

The re-engagement is driven by a desire to improve economic relations and attract foreign investment.

The delegation held meetings with various stakeholders, including the Zimbabwe Investment and Development Agency, the Ministry of Mines and Mining Development, the Ministry of Lands, Agriculture, Fisheries, Water and Rural Development, the University of Zimbabwe and other private-sector players.

Mr Boke said the meetings conveyed to the German delegation that Zimbabwe was indeed “open for business”.

She applauded the tremendous work by the Zimbabwe’s Ambassador to Germany Alice Mashingaidze who made the trip a success.

During both visits, the Embassy of Germany presented investors with all the investment opportunities in Zimbabwe across all sectors.

The recent trip focused on two areas of interest to different groups of investors, namely mining and agriculture.

“The ambassador as well as the Zimbabwean Ministry of Foreign Affairs, were extremely helpful in facilitating and coordinating the various meetings with local institutions such as the Ministry of Mines, the Ministry of Agriculture as well as the University of Zimbabwe,” said Ms Boke.

The meeting with the UZ officials explored potential collaborations and exchange programmes between the Freiberg University of Mining and Technology and the University of Zimbabwe.

The expected areas of collaboration include establishing a Memorandum of Understanding (MoU) to facilitate student and faculty exchanges, providing training and development opportunities for university administration and mining companies in Zimbabwe, collaborating with the Ministry of Mines and Mining Development to offer scholarships for Zimbabwean students and engaging in joint research projects, technology transfer, innovation development and project development.

“The German delegation was impressed by the warm welcome and professionalism of the Ministry Foreign Affairs and International Trade from the moment we arrived at the airport, right through to the various meetings.

“In regards to meeting with the private sector, our local partners Chamirayi Memory Mutasa and Mr Knowledge Hofisi from Aurifin Capital, did a tremendous amount of work in facilitating the meetings,” she added.

Ms Boke said there had been a pervasive misconception about Africa outside the continent and it was time for Africans to take control of the narrative, transform the continent and tell its own story.

Next year, she said the focus would be on Zimbabwe to showcase not only the investment opportunities it offers to the world, especially Germany, but also its rich culture and vibrant people.

She challenged the Zimbabwe business community “to think big”, to continue to strive for perfection in order to achieve excellence in any sector of activity, to create wealth and job opportunities for the younger generation, and to envision a Zimbabwe where “brain gain takes the place of brain drain”.-herald