Articles tagged 'fdi'

Mnangagwa's $3bn FDI yet to be earned 7 March 2018 HARARE - President Emmerson Emmerson Mnangagwa's claims that Zimbabwe has earned foreign direct investment (FDI) commitments totalling $3 billion over the past 100 days, must be properly put into perspective, analysts have said. Financial research firm Equity Axis said in terms of actual numbe...
Zim FDI continues to fall 12 June 2017 HARARE - Zimbabwe attracted $319 million in foreign direct investment (FDI) last year compared to $421 million in 2015, the World Investment Report has shown. The annual report, compiled by the United Nations Conference on Trade and Development (Unctad), southern African country’s FDI has been...
More reforms needed: Chanakira 1 November 2016 HARARE - Zimbabwe needs to introduce comprehensive reforms to meet its $5,5 billion ZimAsset annual investment target, after investment traffic tumbled 70 percent in the period to July on the back of policy uncertainty, a Zimbabwe Investment Authority (Zia) official said. Zia chairman, Nigel C...
Zim bourse hits seven-year low 17 June 2016 HARARE - As the country’s economy continues to die, the Zimbabwe Stock Exchange (ZSE) hit a seven-year low on Wednesday, as foreign investors flee the market as if it’s infected with the deadly Ebola virus. Although the ZSE once ranked among the biggest and best performing bourses in Africa, i...
'Australia could boost Zim investment' 19 May 2016 HARARE - A stable business environment in Zimbabwe could see a rise in Australian investments in the southern African nation, according to Canberra's envoy here, following an exodus of investors in recent years. This comes as Zimbabwe's empowerment policy that aims to redress colonial-era imba...
Zhuwao tosses tax loophole to Chinamasa 4 April 2016 HARARE - Indigenisation minister Patrick Zhuwao says his ministry has approached Treasury after it emerged that amendments to Zimbabwe's black empowerment laws would, in the long run, force empowered employees to sell off their shares to meet tax obligations. Speaking on the sidelines of a mee...
AAG to Zhuwao's defence 4 April 2016 BULAWAYO - The Affirmative Action Group (AAG) has leapt to the defence of Indigenisation minister Patrick Zhuwao over his threats to sue foreign companies that will not comply with the controversial empowerment law. Zhuwao recently threatened to close non-compliant firms, warning that he would...
Zhuwao's indigenisation stance worrying 31 March 2016 HARARE - Indigenisation minister Patrick Zhuwao's combative stance on foreign firms that are yet to comply with the controversial indigenisation policy is very worrying to say the least. Yesterday, President Robert Mugabe's nephew was at it again but this time not only threatening to close all...
Threats against foreign firms 'fascist' 27 March 2016 HARARE - Thousands will be jobless if government goes ahead with its Indigenisation and Empowerment Act directive, economic experts have warned. This follows Wednesday's announcement by Indigenisation minister Patrick Zhuwao that all foreign-owned companies face closure unless they sell or giv...
'Zhuwao playing Russian roulette with economy' 26 March 2016 HARARE - The Welshman Ncube-led MDC has accused government of playing Russian roulette with the economy after government gave foreign businesses until April 1 to comply with controversial equity laws that compel them to cede majority stakes to locals or risk closure. Empowerment minister Patri...
Zim threatens to shut down non-compliant foreign firms 24 March 2016 HARARE - Government yesterday threatened to shut down foreign-owned firms that do not comply with its indigenisation law by April 1. “Cabinet has directed that on April 1 all line ministers invoke Section 5 of the Indigenisation and Economic Empowerment Act Chapter 14:33 and act against all no...
2013 poll lies haunt Mugabe's Zanu PF 22 March 2016 HARARE - With a mere two years to go to Zimbabwe's next national elections, Zanu PF's pie-in-the-sky 2013 election promises are coming back to bite the governing party, with the economy continuing to tank and bleed tens of thousands of badly-needed jobs every new year. This comes as analysts s...
French investors committed to Zimbabwe — Envoy 10 February 2016 HARARE - French Ambassador to Zimbabwe Laurent Delahousse says French investors are willing to increase the investments in the country following the introduction of new amendments to the Indigenisation Act. The envoy told the businessdaily at the unveiling of Total Zimbabwe's state-of-the-art ...
Zhuwao, Chinamasa agree on indigenisation 5 January 2016 HARARE - President Robert Mugabe's Cabinet ministers yesterday agreed on the implementation of the Indigenisation Act in a move aimed at clarifying the controversial policy to attract foreign investors. Finance minister Patrick Chinamasa and Indigenisation minister Patrick Zhuwao — who have be...
Chinese business delegation expected tomorrow 4 January 2016 HARARE - An investment delegation from Qingdao Province, China is expected in the country tomorrow, as more companies from the Asian giant continue to scout for investment opportunities in Zimbabwe. Information from the ministry of Macro-Economic Planning and Investment Promotion indicates tha...
Zhuwao, Chinamasa brawl over indigenisation laws 27 December 2015 HARARE - Damaging discord has once again emerged in President Robert Mugabe's Cabinet, with two ministers Patrick Chinamasa and Patrick Zhuwao reading from entirely different scripts on the country's contentious indigenisation framework. So wide has the gulf between the two bigwigs become that...
“High Zim taxes scare away investors” 17 December 2015 HARARE - Zimbabwe's high taxes and a cocktail of statutory levies are pushing investors away from the country's energy sector, Parliament has warned. Parliamentary portfolio committee on Energy chairperson Nomsa Mhlanga on Tuesday told the National Assembly that mandatory levies being imposed ...
'Zim must craft clear, cohesive FDI policies' 16 December 2015 HARARE - Zimbabwe must improve its business environment in order to attract more foreign direct investments (FDI) into the country and ensure economic and sustainable development, an investment authority top executive has said. The Zimbabwe Investment Authority (Zia) chairman, Nigel Chanakira,...
Zim to clarify indigenisation policy 11 December 2015 HARARE - Zimbabwe is working on announcing and gazetting the Indigenisation Law’s updated framework templates and procedures aimed at clarifying the controversial policy, a Cabinet minister has said. Indigenisation and Empowerment minister Patrick Zhuwao said the new frameworks are meant at br...
Scrap tax incentives, Zim urged 10 December 2015 HARARE - Lobby group African Forum and Network on Debt Development (Afrodad) says government must scrap a coterie of tax incentives on investors to boost its depleting coffers. In its draft research report on the cost of investment incentives in Zimbabwe released yesterday, Afrodad said the ex...
Depoliticise FDI: Chinamasa 30 November 2015 HARARE - Finance minister Patrick Chinamasa has called on Zimbabweans to depoliticise foreign direct investment (FDI). He told delegates at a post-budget meeting in Harare last Friday that FDI inflows into the country must not be classified by origin but by the development being brought into the...
China is Zimbabwe's largest investor 26 November 2015 HARARE - China has become the largest foreign investor in Zimbabwe after the emerging Asian giant poured more than $200 million into the country in 2014, latest figures show. This comes as the southern African country attracted a total of $545 million last year in foreign direct investments — ...
Zim targets new capital 13 October 2015 HARARE - Finance minister Patrick Chinamasa says the agreement between Zimbabwe and international lenders on the repayment of the country's $1,8 billion arrears will pave way for long-term financing to Zimbabwe. The Treasury chief, who attended the IMF convention in Lima, Peru which ended yest...
Dangote omits Zim 11 October 2015 HARARE - Africa's richest man Aliko Dangote has curiously omitted Zimbabwe from the countries he named as investment destinations only a few weeks after purportedly striking a mega deal with the southern African country. During his visit to Zimbabwe last month, where he met President Robert Mu...
Mugabe sweats as economy dies 28 September 2015 HARARE - With Zimbabwe's economy continuing to implode amidst rising poverty levels, heightened job redundancies and crippling power cuts, Zanu PF insiders say President Robert Mugabe is caught “between a rock and a hard place” as he battles to control the deadly infighting within his party and r...