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Tuesday, May 28, 2024

Saudi investors keen to explore opportunities in Zimbabwe

Story by Josephine Mugiyo

A group of prospective investors, from Saudi Arabia has paid a courtesy call on President Emmerson Mnangagwa who was in Riyadh to attend the Saudi -Africa summit.

The inaugural Saudi – Africa summit which was held this Friday, saw African Leaders and the Saudi government officials focus on possible areas of partnership as Africa seeks to pursue economic growth.

President Mnangagwa was among the heads of the state who attended the summit and this Sunday a group of investors paid a courtesy call on him as they seek to explore opportunities in Zimbabwe.

Speaking to ZBC News after the closed-door meeting held in Riyadh, Zimbabwe’s business ambassador to the Middle East, Mahomed Jassat said Zimbabwe’s presence at the summit was key and focus is now on exploring possible areas of collaboration.

Ambassador Jassat said following a courtesy call by the Saudi minister of investment on Saturday evening, a group of 12 investors held a meeting with President Mnangagwa this Sunday after being impressed with the possibilities of collaboration on the business front.

He said, “We are very fortunate in that the minister of investment paid a courtesy visit of His Excellency last night. This minister is particularly involved in investment and is very keen to ensure that they invest in Zimbabwe. He was impressed by the address of the President last night that he decided to come and bring 10 investors to meet H.E. He was impressed with the opportunities he was told. I can tell everybody back home that Saudi Arabia is coming to invest.”

Ambassador Jassat added that some of the financial institutions in Saudi can partner Zimbabwe through investments in Agriculture and infrastructure.

“We had the CEO of Al Raji bank and obviously they can assist us in terms of finance. They can invest in infrastructure projects and agriculture and are going to work not only with the government of Zimbabwe, but the people,” he added.

Zimbabwe thus continues in its pursuit of economic diplomacy.

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