- Southern Africa
Zimbabwe gold-rush begins as investors flock in
There has been a upsurge in inquiries into investing in Zimbabwe since September 15 when a yet to be effected power sharing agreemmt was signed.
Zimbabwe Investment Authority CEO Richard Mbaiwa says foreign investors are seeking investment opportunities in the country mostly from South Africa.
"Although it’s too early to see a definite trend on the investment inquiries, there has been an increase in the number of investors making inquiries about the country following the agreement - and it cannot be coincidence," Mbaiwa said.
The uncertanity in to the political sistiation since 2000 turned away hordes of investors.
However, major financial global financial players are takign a wait and see approach.
Despite promises of significant aid from the European Union and the United States once a deal was signed, they are now cautious about committing themselves.
Political players in Zimbabwe have discussed the sourcing of credit on global financial markets but, given the current world market turmoil, there is limited appetite for new risk.
The International Monetary Fund’s Dominique Strauss-Kahn said last week said the fund was ready to talk to Zimbabwe, but aid from this quarter will be slow in coming.
But indications are that once the political stalemate stabulises they would return.
Mbaiwa added that most inquiries were coming from South Africans interested in investing in the mining sector.
"The interest from South African companies could be because of their proximity to our country, but we are also continuing with our Look East Policy in the investment drive," he said.