Mnangagwa says plenty investors flocking in, hotels flooded

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PRESIDENT Emmerson Mnangagwa has said Harare is flooded with investors from all over the world and hotel space is now insufficient to accommodate them all.

He was speaking at the official opening of the $40 million giant cooking oil processing plant at Willowton Group of Companies in the eastern border city of Mutare Friday.

“Harare is flooded with investors coming from all over the world that even the hotel space is insufficient,” said Mnangagwa.

He said it was no longer business as usual in his government, adding his ministers were now working long hours to accommodate the investors.

“No more working from 8am-4pm, its work, work and work. One evening when one of my ministers was busy, because when an investor comes we channel them to appropriate ministers, phoned me and said: President you said Zimbabwe is open for business but I am not able to cope with the backlog can we announce that Zimbabwe is temporary closed for business until we clear the backlog,” said Mnangagwa.

“But I told him that Zimbabwe is now more open for business,” he added.

President Mnangagwa said the new dispensation thrust is poised for economic growth and liberation of ease of doing business, adding that in less than four months the country has managed $7 billion worth of investment commitments.

“In the past, we would have done well if we managed to achieve $400 million a year,” he said, adding that this capital inflow is expected to contribute 20 percent to the Gross Domestic Product (GDP).

“Furthermore, this will contribute towards our vision to become a middle income country with increased income, decent jobs, free from corruption by 2030,” he said.

He said government will continue to eliminate all forms of investment impediments, bottlenecks, public sector lethargy, deliberate in-efficiency and corruption.

“When we say Zimbabwe is ready for business, indeed investors must come and see that we are indeed ready for business.

“For example, I was in Kigali and had a private chat with President Kagame and he told me that if an investor comes to open a business there in six hours the investor will have succeeded in acquiring a certificate and registration of the company,” said Mnangagwa.

Willowton Zimbabwe Chief Executive Officer, Bruce Henderson, said their plant in Mutare produces 6000 tonnes of oil per month, 5 000 tonnes green bar and 1 000 tonnes of beauty soap.