Welshman Ncube, Biti to grace the ZimInvest London 2013 fair

Published: 10 June 2013

THE Minister of Industry and Commerce Welshman Ncube and his Finance counterpart Tendai Biti will on Friday address business executives in London where they will pitch Zimbabwe as a safe investment destination.

The two are among several banking and industry bureaucrats invited to speak at the ZimInvest London 2013 fair - a platform to promote business opportunities in Zimbabwe across all sectors of the economy.

Organisers say the forum will "showcase over US$30 billion worth of infrastructure, mining and investment projects, some with regional potential such as the power projects."

The event will be held at the Intercontinental Hotel, Plaza Lane, London under the theme, "Why Zimbabwe Matters."

"This will be an excellent high-level networking platform for attaining a first -hand account of business in Zimbabwe, its potential and regional potential, as well as promoting Zimbabwe as a safe and attractive destination for investors," ZimInvest said.

The organisation is targeting investors interested in Zimbabwe partnerships in various sectors of the economy including energy, mining, agriculture, infrastructure, banking and manufacturing among others.

Some 120 foreign investors are expected to attend, and a limited number of complimentary tickets will be issued to a few Zimbabwean entrepreneurs as well as other nationals wishing to attend.

Zimbabwe has struggled to attract any direct foreign investment in the past decade due to a myriad of factors such as political instability and radical policies pushed by the Zanu PF government including the land reform program.

Western sanctions have also worsened the investment drought, forcing the unity government partners to campaign for their removal to aid economic growth.

Ncube and Biti are some of the MDC officials who continue to push forcefully for the Western nations, especially the US and Britain to lift the restrictions.

The indigenization policy that compels foreign entities to cede a majority stake to foreigners has also been cited as another factor repelling investors.

The ZimInvest lineup of speakers include Chamber of Mines president Winston Chitando, Britain-Zimbabwe Society chairman Knox Chitiyo, Falcon Gold non-executive director Roy Pitchford, London Stock Exchange's Richard Webster Smith as well as Net One managing director Reward Kangai among others.
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