South African Businesses Urged To Invest In Zimbabwe

27 March 2012 16:30 - Mark Maffia

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South African Businesses Urged To Invest In Zimbabwe

Elizabeth Thabethe, Deputy Trade and Industry Minister has encouraged South African firms to take advantage of the improving situation in Zimbabwe and invest. Thabethe said, “Zimbabwe has been carrying out economic and structural reforms, which have improved economic performance and sustained growth.” She added, “Since 2009 Zimbabwe has had positive growth rates above 5% per annum, reaching 5.9% in 2010.” Investment in infrastructure development in Zimbabwe would have a high rate of return and lead to an increase in demand for manufactured and capital equipment.

Thabethe concluded that, “There are enormous opportunities in the development of the continent’s vast resources, and the creation of critical infrastructure in roads, railways, ports and utilities.” She said that trade between the two countries stood at R20 billion in 2011. Since 2003, South African companies had invested more than R10 billion in Zimbabwe in development projects. These projects had contributed to the creation of more than 2,000 jobs in the country’s metals, minerals, tourism and financial service industries.

Thabethe also stressed that India and South Africa should seize the opportunities presented by the global economy. The South Africa-India Investment and Trade Initiative, stressed on the need to develop close collaborative relation between the two countries.

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