The Africa Investment Forum is an opportunity for Zimbabwe to attract investments into the country, the country’s Minister of Finance and Economic Development, Mthuli Ncube, told Daily News Egypt.
“We had a very successful visit communicating our message that Zimbabwe is open for business, as Zimbabwean President Emerson Mnangagwa said.”
Recently, Mnangagwa called on investors to realise the massive investment opportunities in Zimbabwe and shun negative perceptions of risk.
Ncube explained that Zimbabwe has three projects that were showcased in the forum, the first of which is in the steel sector, which received noticeable support from investors.
He added that the second is in the dairy sector and the third is developing a border post in the country’s east.
Egypt and Zimbabwe have a long history dating back to the 1960s, as most Zimbabwean liberation fighters lived and trained in Egypt, he affirmed.
“It is a very special relationship that is ongoing, and we look forward to upscaling it on the economic front. When it comes to tourism, we would like to learn a lot from Egypt’s expertise in this regard and see Egyptian investors in this sector.”
Moreover, he communicated an interest in medical tourism and boosting trade exchange, especially within the context of the African Continental Free Trade Area (AfCFTA).
“Zimbabwe will be taking part in the COP27 in Sharm El-Sheikh, and we look forward to be able to work with Egypt and the rest of the world to maximise opportunities around climate finance and tackle climate change,” he affirmed.
The Africa Investment Forum platform is an initiative of the African Development Bank and seven other development institutions, including Africa 50, the Africa Finance Corporation, African Export-Import Bank, Development Bank of Southern Africa, Trade and Development Bank, European Investment Bank, and the Islamic Development Bank.