Strengthening financial linkages key to Zim-Rwanda ties

By Owen Mandovha

ZIMBABWE and Rwanda have underscored the need to solidify financial frameworks in order to upscale trade and investment between the two countries.

The Second day of the ongoing Zimbabwe – Rwanda Trade and Investment Summit which predominantly took the form of business to business meetings saw the Financial Centre’s Chief Executive Officer Nick Barigye giving an insight into how the institution can be of use to prospective Zimbabwe investors.

“The Kigali International Finance Center’s role is to create a conducive framework that nurtures investment. We have partners who are useful in developing and growing foreign investment by making it easier to set shop in Rwanda,” he said.

On the opening day of the Conference, Finance and Economic Development Minister Professor Mthuli noted how Zimbabwe’s financial jurisdiction can foster incoming Rwandese investment as the two countries seek to harness financial linkages.

“Zimbabwe’s tax regime is very flexible to allow foreign entities to thrive and we have several tax incentives to allow companies to make quick returns,” noted Mthuli.

It also came out clear that Africa can no longer depend on Western offshore capital markets to finance its growth but rather mobilise internal funds by simply creating sound linkages, hence Zimbabwe and Rwanda are keen on financial collaborations.