American investors express massive interest in Zim: Ncube

HARARE - Having long written off Zimbabwe as one of the world’s least appealing economies, international investors are beginning to show signs of interest in Zimbabwe, newly appointed Finance minister Mthuli Ncube has said.

Zimbabwean officials met with investors in New York in search of cash that would clear about $1,8 billion in arrears with the World Bank and the African Development Bank (AfDB).

Repayment would unlock more cash from the AfDB and is necessary to tap into other sources of development financing.

Some 100 international investors and institutions attended the meeting led by President Emmerson Mnangagwa and held on the side-lines of the United Nations General Assembly in the Big Apple.

Ncube is also accompanied by Reserve Bank of Zimbabwe governor John Mangudya.

Ncube, a former banker, said in a social media post after the investor conference in New York on Friday that  investors’ interest in Zimbabwe is overwhelming as quite a number of them expressed an interest.

“At the oversubscribed Zimbabwe Investor Forum, over 100 American investors including Morgan Stanley, Bank of America, Merill Lynch, JP Morgan showed interest in bringing capital to the newly-reformed Zimbabwe,” Ncube said.

“His Excellency ... Mnangagwa assured the American investors that their investments will be safe in Zimbabwe. Zimbabwe will never be the same again.”

Zimbabwe became a pariah in the West after former leader Robert Mugabe’s government was accused of rigging elections and abusing human rights, and over the years it has turned to China for investment to help an economy desperate for new infrastructure.

The new president has declared that Zimbabwe is now “open for business” and said his government will create an environment where capital feels safe and business can thrive and create jobs for Zimbabweans, with an improved standard of life for all.

Comments (6)

yes this is it now....thank you our President for a job well-done....rise and shine Zimbabwe

ED PFEE - 23 September 2018

When Morgan Stanley and J P Morgan and Bank of America and Merill Lynch open offices in Harare that will be the day to invest in ZW and not a day before. This talk is of course cheap and even Comrade RG Mugabe promised investors that their money would be safe !! And you all know what happened - law and order went out the window !

ace mukadota - 23 September 2018

Chero ndine pangu pekugara ndichizviitira twangu pandinowana mvura yakachena isina zvinouraya uye ndichirima chikafu chinehutabo ,i care not. Mari yakakonzera nhamo dzese pasirese...kuurayana vamwe zvirema nhasi Uno. Vanhu vamurikuda havana rugare....kwavo inzara yega yega. Vanhu vazhinji vasina chekudya vanopihwa sadza nema chechi uye ma food banks -ukatarira vara iroro unodzidza zvakawanda. Kunedzimwe nyika vanotono hura vanhu vechikadzi ivava varungu kuti vabatsire mhuri , havambodhuri zvakanyanya , 10 dhorazi inoiwana ravhu. Musha urinani , ivhu ndoupenyu uye ndiro basa , zvimwe zvese kurasika.

Nhodo mu nyc - 23 September 2018

It is rather unfortunate that Mthuli Ncube is already singing from the zanupf hymn book. There is a huge difference between interest and actualisation until the later has surfaced don't be so excited, by naming those few possible investors you have jumped the gun chances are they will be negatively affected. And your person will be left with egg on your face unless if you have already fitted well in the zanupf jacket of lying without remorse...promises..promises and more promises.

Sinyo - 24 September 2018

Zimbabweans! Lets rally behind our president. Whatever the criticism he has from other quarters working together and united behind him will make Zimbabwe as great as was before. Zimbabwe FIRST>

Dr Vincent Gwarazimba - 24 September 2018

Results not talk

Strategy - 30 October 2018

Post a comment

Readers are kindly requested to refrain from using abusive, vulgar, racist, tribalistic, sexist, discriminatory and hurtful language when posting their comments on the Daily News website.
Those who transgress this civilised etiquette will be barred from contributing to our online discussions.
- Editor

Your email address will not be shared.