Zimbabwean President Dr. Emerson Mnangagwa has called on investors to realize the massive investment opportunities in his country and shun negative perceptions of risk.
Mnangagwa spoke on Thursday at a special event on the margins of the Africa Investment Forum Market Days 2022 in Abidjan, Côte d’Ivoire.
The event was centred on the broad range of investment opportunities in Zimbabwe. Several cabinet ministers accompanied the president, namely Foreign Affairs Minister Frederick Shava, Finance and Economic Development Minister Mthuli Mcube, Agriculture Minister Anxious Masuka and Industry and Commerce Minister Sekai Nzenza.
“The focus is to persuade global capital assembled in this city to realize that there are opportunities for investment in Zimbabwe,” President Mnangagwa said.
The Zimbabwean President noted that the African Development Bank President Dr. Adesina invited him to the forum when he visited Zimbabwe earlier this year. Adesina agreed to champion Zimbabwe’s debt clearance strategy as it has been severely hurt by sanctions imposed by the European Union and other Western countries.
“Our mission here is to explain ourselves, assure investors that Zimbabwe is a safe investment destination,” Mnangagwa added.
Adesina assured that Zimbabwe could count on the African Development Bank’s strong support. He confirmed the bank’s approval of a $4 million grant to support the development of a secretariat to move the country’s debt arrears clearance issue forward.
“I know the story of Zimbabwe, the opportunities and potential of Zimbabwe,” Adesina highlighted. “I think Zimbabwe is not as risky as you think…Private sector opportunities are limitless.”
Adesina outlined the country’s many potential areas for investment, including steel, agriculture and information technology. He said the bank was lending support in these and other sectors.