New Zimbabwe.com

Mnangagwa to investors: Your money is safe in Zimbabwe

By Matabeleland North Correspondent


PRESIDENT Emmerson Mnangagwa on Wednesday, assured foreign investors that they will have access to their dividends if they invest in the country’s economic sectors.

Dangling a carrot to mining experts and potential investors who attended the 35th International Chromium Development Association (ICDA) currently underway in Victoria Falls, Mnangagwa said Zimbabwe is the safest investment destination in the world as the country enjoys peace.

“We are a country endowed with vast natural resources and have a huge growth potential particularly in the chrome and platinum group of metals mining sub-sectors. As our country accelerates its modernisation and industrialisation agenda, the development of these mining sectors will be given greater attention in our bid to accelerate economic growth.

“My government is continuously implementing comprehensive economic reforms towards ensuring that Zimbabwe is a safe, favorable and competitive investment destination with a thriving and open economy,” he said.

Since coming to power a year ago, Mnangagwa has been on a global charm offensive presenting himself as a reformer and ready to take Zimbabwe on a different trajectory from his predecessor former President Robert Mugabe.

He said testimony to this is the implementation of amendment of the Indigenisation and Economic Empowerment Act which forced foreign investors to cede 51% shareholding to locals as part of a policy to push previously marginalised blacks into the mainstream economy.

Mnangagwa added that his administration has liberalised investment conditions by removing restrictions on shareholding in the mining sector.

“In response to market expectations and global best practices, we continue to make responsive laws to reform our business operating environment through policies that are transparent, consistent and predictable.

“ All investors are free to repatriate their dividends in accordance with our laws and are also free to choose to partner with locals on mutually beneficial and agreed conditions,” then President said.

Zimbabwe is deemed to have the second largest chrome reserves in the world.

Mnangagwa said Zimbabwe under his watch, will work to increase national productivity and total output contribution to the global market. This he said will be made possible through partnership with foreign investors.

“To achieve this, Zimbabwe’s chromium sector is open for the injection of new capital and investment inflows.

“We have a skilled disciplined human resource and I therefore invite you to commit your investments in our chromium sector and explore possible investments in any or our wide range of exciting mineral resources some of which are not yet explored,” he added.

The conference ends Thursday.