Zim fallen off investors' radar - Biti

WASHINGTON - Former Finance minister Tendai Biti says foreign investors are willing to open businesses in Zimbabwe if the political situation improves.

Biti, who is currently in Washington DC as a visiting fellow at the Centre for Global Development, said investors are watching the unfolding political drama in the country where a Zanu PF faction allegedly led by new Vice President Emmerson Mnangagwa is now in charge of the ruling party.

He said, “I had a group of investors yesterday and I was actually urging them to put their money back home … The bottom line is that Zimbabwe has fallen off the radar completely and people have written us off as a basket case.

“There is hardly any interest in Zimbabwe and people are tired of our noise, conflicts, stolen elections, violence, repository politics and politics of exclusion.”

The Zimbabwe economy has been sliding since the 2013 general election won resoundingly by President Robert Mugabe’s Zanu PF, which has been of late locked in a political dispute over the control of the former liberation party.

The country owes the World Bank $1 billion and the International Monetary Fund about $124 million. Zimbabwe is currently struggling to settle a $10 billion external debt.

Meanwhile, as the economy struggles, Tobacco Marketing Board chief Andrew Matibiri said Zimbabwe is facing critical shortages of tobacco transplants ahead of the forthcoming crop season.

Comments (27)

Investors do not need Tendai Biti to carry out any due diligence!!! Biti stop lying that you met would-be investors. You are just trying to stay in the lime light. There are better markets somewhere in the world where there is rule of law and where investors can make money...not in Zimbabwe with her prevailing economic and political environment.

Garikayi - 22 December 2014

Biti you are a failure.Just be a visitor there and stop lying to us.

Fambirachimwe - 22 December 2014

Mati Biti naMangoma vaita sei?Vanyora zveimwe tsamba?

manu - 22 December 2014

Biti of all the people attracting investment for Zimbabwe ? Hameno. Why does he concentrate on his new baby the UMDC ?If we are a basket case as Zimbabwe, what then do we call BITI, MANGOMA and Company ? Zimbabwe under Zanu Pf remains better than UMDC. Investors from the East are jostling for opportunities in Zimbabwe and we wonder where Biti is getting his information. Wait while we make ZIMASSET operational tozosangana 2018.

Zanu we - 22 December 2014

Biti of all the people attracting investment for Zimbabwe ? Hameno. Why does he concentrate on his new baby the UMDC ?If we are a basket case as Zimbabwe, what then do we call BITI, MANGOMA and Company ? Zimbabwe under Zanu Pf remains better than UMDC. Investors from the East are jostling for opportunities in Zimbabwe and we wonder where Biti is getting his information. Wait while we make ZIMASSET operational tozosangana 2018.

Zanu we - 22 December 2014

I do not know in which Zimbabwe ZANU we lives as I do not see any meaningful and actual investments from the east as claimed. Chinamasa himself said the Chinese want to see bankable projects and I do not know of one at the moment. Like Biti or not but what he has seen are facts!

Okech - 22 December 2014

Who is Biti? Is this the same guy who negotiated a Unity Government pact with ZANU Pf and later blamed Tsvangirai for signing the agreement?

Da Vinci - 22 December 2014

Biti's imaginary investors behave the way he has prescribed. Real investors will plough their monies where returns are good, e.g. in those countries like Kenya & Nigeria with serious security threats from Al Shabab & Boko Haram respectively. Our politics in Zim are no different from politics in other Third World countries.

mageja siziba - 22 December 2014

One thing is for certain, all these choreographed Zanu PF rantings against Biti will not attract investment. If Biti is so wrong where are the investors. I am a business person currently travelling oversees searching and the responses towards Zim are in line with what Biti says. No amount of sloganeering or irresponsible propaganda will change the reality.

connie - 22 December 2014

Reality is Real & SOLID Concrete Real no matter who says it. You might hurt the "sayer" but take heed of the WORDS.

springboard - 22 December 2014

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chiremba - 23 December 2014

Biti, so when you are in America you agree that that elections where stolen and when in Zimbabwe you blame Tsvangirayi for loosing the same. How genuine?

Samaita - 23 December 2014

Whether we elect to side with what Biti said or not, the stark stubborn reality is that there hasn't been any meaningful investment in Zimbabwe, particularly after the year 2000. Without policy reforms and re engagement with the outside world, we might as well forget about attracting any Investor to such a Banana republic which is run by people who imposed themselves against the people's will when they stole their vote. What our leaders need to keep in mind is that the resources we so much boast about are also found in surrounding countries like South Africa, Mozambique, Zambia and Namibia. We are not that very special and unique if you take a real closer look. We need to be competing with those countries to lure investors, not spitting in their faces.

Dr Know - 23 December 2014

True that Dr Know!!

Zuruvi - 23 December 2014

There are quite a few forum bloggers who write plain common sense about how to get the nation up and running and what needs to corrected. How come there is no one in government with plain common sense?

Righteous Justice - 23 December 2014

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flixcom solutions - 23 December 2014

Whatever mBiti is sound and true but the reality is him and all in UMDC will never wish to test the raging waters of a free and fair vote plus the environment for a number of meaningful investors is porous since 2000 plus whose authority and constituent is mBiti speaking for, at least Mtambara could be termed wise as he zipped his beak since end of the GNU????

LTMMMMayhem - 23 December 2014

Biti which is which were elections stolen or mdc t lost them because of mt and his blueprint u are confused bro

e manual zinhu - 24 December 2014

Anybody who invests in Zimbabwe is either STUPID; INSANE; A ZANU PF BOOTLICKER; or SERIOUSLY CORRUPT. Imagine putting your money in a bank, and if you are lucky you MIGHT get half of it back - if the kleptomaniac Zanoids actually let you live.

Agostinho Zacarias - 24 December 2014

I really used to admire, read and listen to Biti, until he lost it by further splitting MDC. Now imagine where you guys could be now if you had remained united!

Dr Tapera - 24 December 2014

Dr Tapera, you have a short sight

vamutumburanzou - 24 December 2014

Mageja Siziba 's comment confused me, why do investors including China put money in Kenya and Nigeria more than Zim? There is gun fire in these two countries and only rantings of an old man in Zim.

Zvakaoma - 24 December 2014

Guy's we are okay with our zimbabwe

moses - 25 December 2014

All these comments are personalizing issues. We should be offering suggestions on the way forward and not attacking each other, please. My comments: the country needs investment; we have to agree the current investment is not adequate to create employment and improve livelihoods. Second we must have a consensus on what's stopping this investment. What's we are clear on these 2 then we will easily have consensus on solutions.

J Shoniwa - 27 December 2014

More and more jobs is what we want!

Goal Worth Global Network Employment Agency - 27 December 2014

Meanwhile, as the economy struggles, Tobacco Marketing Board chief Andrew Matibiri said Zimbabwe is facing critical shortages of tobacco transplants ahead of the forthcoming crop season........ am sure the reporting needs to be improved. Which season is Dr Matibiri talking about. Check recommended seeding dates and report properly. We have already harvested the September crop. In a couple of weeks we will harvest our rain fed. Seed beds in Zimbabwe are done in the winter months. There are also dead periods. Please consult Dr Matibiri before you use his name. I have respect for him because he earned his doctorate.I doubt the sincerity of the reporter. The whole report is infuriating.

Prof. Fatso - 29 December 2014

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