EU firms’ renewed interest on Zimbabwe’s economy excites business community

By Stanley James, Business Editor

The recently-held EU – AU summit in Belgium where President Emmerson Mnangagwa also held talks with representatives of some European based firms has been cited by members of the business community as an important step in improving global confidence on the economy.

Confederation of Zimbabwe Industries Banking and Economics chairman Jimmy Psillos outlined the importance of the renewed interest of some Europe-based companies on Zimbabwe.

“That initiative is welcome as it will unlock vast opportunities remember the EU bloc has also opportunities for local firms to strike joint venture transactions,” Psillos said. 

For University of Zimbabwe Business School chairman, Dr Nyasha Kaseke, it is the economic reforms being instituted by the second republic that has also charmed European Union based firms.

“That they intend to come and set up projects is something of greater interest. It is the right step to set the tone for more business confidence as the economy eyes further growth trajectory this year,” he noted.

Several companies including those from Belgium and Germany have pledged to send representatives to Harare to explore more business opportunities after meeting President Emmerson Mnangagwa in Brussels.