UK firms eye US$1 billion in Zimbabwe investments

BRITISH companies are lining up nearly US$1 billion in investments across key sectors including dairy, mining and renewable energy, underlining renewed confidence in the country’s economic potential.

This development signals a major step forward in trade and investment relations between Zimbabwe and the United Kingdom, as diplomatic ties continue to thaw under President Mnangagwa’s “Zimbabwe is open for business” mantra.

Speaking on the sidelines of the recently concluded Zimbabwe International Trade Fair (ZITF) in Bulawayo, Mr Martin Alsop, a representative of the British Embassy in Harare, said the embassy is actively supporting a robust pipeline of investment projects by British firms.

“On the investment side, we have a pipeline of close to a billion dollars from what we are working on from British companies covering the dairy sector, mining and solar renewable energy.

“These are deals that we, as the British Embassy, are supporting to ensure they are completed and operational in Zimbabwe. It’s a win-win situation. It’s good for the UK and good for Zimbabwe,” he said.

Under the Second Republic, Zimbabwe has pursued a vigorous engagement and re-engagement policy, aimed at attracting foreign direct investment and restoring its standing in the international community.

The UK’s deepening economic engagement is widely seen as a key endorsement of the ongoing economic reforms and a vote of confidence in the country’s investment climate.

President Mnangagwa has consistently reiterated Zimbabwe’s commitment to fostering a conducive business environment, anchored on the principle of being “a friend to all and an enemy to none.”

Ends-herald