Story by Farai Gwaze
ZIMBABWE’s mining sector is drawing favourable attention from international investors attending the African Mining Indaba in Cape Town, with policy consistency and improved ease of doing business cited as key factors enhancing the country’s appeal.
Engagements with investors on the sidelines of the global mining forum indicate growing confidence in Zimbabwe’s regulatory environment under the Second Republic, particularly when compared with other regional jurisdictions.
Prospective investor Humphrey Mpilo, a chrome miner with interests in Zimbabwe, highlighted the comparative advantage offered by the country’s mineral endowment and access to concessions.
“I am a chrome miner doing chrome in Zimbabwe and the opportunities are vast. We got ourselves mining concessions we can only dream of in South Africa,” he said.
Other investors pointed to reforms aimed at improving investor confidence and reducing barriers to entry.
“A lot of effort has been put in for investors to come into Zimbabwe. I think a lot of changes make it look attractive for us to make an investment into the country,” said Alex Dowly, another prospective investor.
Beyond policy, Zimbabwe’s high-level representation at the Indaba was also cited as a positive signal.
“The presence of senior officials here from Zimbabwe in the Reserve Bank and the Ministry of Mines in a relatively informal environment was well attended and much better attendance than expected,” said investor Mark Rawlings.
Government officials attending the Indaba said the feedback from investors reflected the impact of ongoing reforms and sustained engagement with the international mining community.
Permanent Secretary in the Ministry of Mines and Mining Development, Mr Pfungwa Kunaka, said investors were responding positively to Zimbabwe’s regulatory framework and accessibility of government institutions.
“The investors are speaking highly about Zimbabwe. They are also looking for comfort in our regulatory framework and interaction with government which is quite positive,Some of them are open to compare Zimbabwe and other jurisdictions, and for Zimbabwe they are saying business is quite easy,” he said.
The Ministry of Finance and Investment Promotion reaffirmed the Government’s commitment to investor protection and capital mobility, a key concern for international financiers.
“We operate on a very clear policy of capital in, capital out. You invest in Zimbabwe, you make profits and are very much free to repatriate your profits to any country at any point in time. Whereas other countries are looking at nationalising mining assets, in Zimbabwe we are looking at making sure that there is a fair distribution of our wealth,” the Ministry of Finance and Investment Promotion, Permanent Secretary, Mr George Guvamatanga noted.
This combination of positive investor sentiment and policy clarity further strengthens Zimbabwe’s case as a safe and viable investment destination.
