South Africa’s president Zuma is reported to have told Zimbabwe’s president Mugabe that South African businesses are ready to partner and invest in Zimbabwe. The catch, however, is that Zimbabwe is expected to clean up its “murky” investment policy.
According to reports, the statement was made at the Bi-National Commission (BNC) which launched in Harare on Thursday.
NewsDay reported that President Zuma requested more transparency on Zimbabwe’s investment policy.
President Zuma’s skepticism of Zimbabwe’s investment policy revolves around an indigenization policy that requires all foreign investors to hand over 51% of their shares into the hands of black Zimbabwean groups.
“Our business community stands ready to play their part if, as government, you improve the ease of doing business and policy certainty,” Zuma was quoted as saying.
Western countries have overtime suggested an investment policy change to the Zimbabwean government, but President Mugabe has always dismissed it as part of a grand scheme to have him removed from power.
Other sources such as the Herald reported that President Mugabe assured President Zuma that South African investments are secure in Zimbabwe.
“I want to assure South African businesspeople that their investments are safe here in Zimbabwe. We wish to see more South African investments here as much as we wish to also see more Zimbabwean investment in South Africa.
“The empowerment programmes we are implementing in our respective countries have graduated to a new class of businesspersons who should be empowered for the national and regional market.”
“Our thrust towards industrialisation through value addition and beneficiation of available resources offers vast opportunities for joint ventures and investment partnerships. We wish to see more South African investment here as much as we wish to see more Zimbabwean investment in South Africa. Let us work together to improve the flow of investments in both directions…” President Mugabe said.