United Kingdom: Minister Mupfumira leads Zim delegation at London investment forum



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By Nkosana Dlamini


The Tourism and Hospitality Minister, Prisca Mupfumira, heads a Zimbabwean delegation to an important investment forum in London on Thursday, hoping to persuade a hesitant foreign investor base to enter and establish business in the country.

The day-long Indaba, to be held at the London Hilton Canary Wharf in central London, will bring together government officials, key decision-makers and potential investors under one roof.

A key event arising in the wake of the renewed economic turmoil in the troubled Southern African country, the forum is endorsed by the Zimbabwe Investment and Development Agency.

"Senior government officials, industry experts and international leaders will gather in London tomorrow, November 8, for a forum on investment opportunities in Zimbabwe and to meet the challenges of operating and entering the African country," a press release said. of Zimbabwe. Agency for Investment and Development.

"The event will include ministerial talks, a question and answer session in open forums with the Zimbabwe Investment and Development Agency, corporate presentations and networking."

The top-level indaba theme is "Unlocking Value through New Perspectives".

Minister of Tourism Prisca Mupfumira

Among those addressing the meeting are Minister Mupfumira, Kupukile Mlambo (deputy governor of the Reserve Bank of Zimbabwe); Richard Mbaiwa (CEO of the Zimbabwe Investment Authority); and P Masvikeni (director of operations of the National Petroleum Infrastructure Company).

Topics to be discussed include Public-Private Partnerships and funding models, reassessing political risk in Zimbabwe, infrastructure needs for the development of heavy industries, ease of doing business and local content, and indigenization.

Based on the choice of topics and those forming the Zimbabwean delegation, it is clear that the Emmerson Mnangagwa government is interested in renewing ties with foreign investors in a country that has seen its share of crises in the last two decades.

Since assuming the lead of the country a year ago, Mnangagwa has chosen to abandon the combative policy of his predecessor, Robert Mugabe, largely attributed to the flight of foreign capital over the past 20 years.

Mnangagwa extended an olive branch to Zimbabwe's former but powerful opponents in EU countries and had the opportunity to court an indifferent American side in their meticulous reengagement efforts.

The London meeting, to be held about three months after his election as Zimbabwe's substantial leader, could convince some skeptics within Zimbabwe's diaspora and the foreign component of potential investors.

In the recent past, the country was hit by a cash crisis that extended to basic commodities, including fuel.

Authorities have shifted to dispel fears that this could be a return to 2008, as Zimbabwe recorded record levels of inflation and a shortage of goods.

Army deaths in six civilians during the August 1 post-election violence in Harare have contributed to negative perceptions about Zimbabwe as a secure investment destination.

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