Zimbabwe: Country to Re-engage Investors

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German-African Business Association and International law firm, Pinsent Masons this week announced that President Emmerson Mnangagwa has shown signs of willingness to re-engage international investors to boost the economy.

At a forum held in Johannesburg, Mnangagwa, who was sworn in late last year made encouraging commitments, including dealing with Zimbabwe’s land tenure problems, and largely scrapping a controversial “indigenisation” law compelling foreign companies to sell majority shares to locals.

Mnangagwa, who will steer the country ahead of elections later this year, has the difficult task of trying to kickstart the country’s economy.

Businessman George Manyere, the founder and CEO of MHMK Infratech and vice-chairman of JSE-listed Ecsponent Limited said Mnangagwa’s government had to make radical changes and put in place policies that were legally sound in order to sustainably grow the economy

“A regulatory backed economic turnaround will resonate with foreign investors,” Manyere told the forum.