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Monday, May 27, 2024
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UK lines up more investments in Zimbabwe

Story by Stanley James, Business Editor

RELATIONS between Harare and London are set to further strengthen, with the UK Embassy revealing in a statement that it is seeking a trade and investment advisor to identify business and trade opportunities in Zimbabwe.

The adviser is also expected to provide interface between the British business people and investors targeting to establish projects in Zimbabwe.

The United Kingdom says it is keen to increase investments in Zimbabwe after being charmed by the government’s pro-business policies.

UK Ambassador to Zimbabwe His Excellency Pete Vowles revealed on micro-blogging platform X that there is commitment to increase investments to facilitate job creation and deepen partnerships.

The business community says interest by the British government to further scale up ties with Zimbabwe is an indication of thawing relations between Harare and London, setting the tone for increased socio-economic ties.

Economist, Dr Zack Murerwa said, “It is something that is highly appreciated given the historical matrix that determines the level of cooperation between the two countries, therefore it sends positive signals relating to the government’s engagement and the re-engagement drive. The trend will even enable Zimbabwe to reap more benefits in terms of trade while consolidating bilateral ties that have a positive element in facilitating more cooperation.”

Pan African Chamber of Commerce Board Member Mr Langton Mabhanga said, “The search for the adviser indicates how committed the British government is working towards enhancing ties with Zimbabwe because such an adviser will also play an important role in providing updates on key areas of cooperation, identifying viable local business opportunities and addressing some of the constraints affecting investment inflows.”

The Zimbabwe Investment and Development Agency statistics show that at least four British projects with an estimated value of more than US$70 million were approved during the course of this year.

British investment portfolios in Zimbabwe are currently within the fields of solar energy, horticulture, dairy, beef and financial services, among others.

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