A notable increase in inquiries from German investors interested in setting up operations in Zimbabwe indicates a fresh and unprecedented enthusiasm for business in the country, according to an official.
Ms. Victorine Boke, who assists German investors in finding opportunities in Africa, highlighted that the re-engagement efforts led by President Mnangagwa and his administration are delivering positive outcomes.
Recently in Zimbabwe for the second time, Ms. Boke brought a delegation seeking business ventures in the country. In an interview, she remarked that the government’s pro-business policies have sparked a rise in interest from German investors.
“The renewed interest from German companies to engage with Zimbabwe is at an all-time high,” said Ms. Boke.
“We are receiving increasing requests from German companies looking to facilitate business engagements in Zimbabwe.”
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She credited the success of the re-engagement initiative, led by President Mnangagwa and his government, for these positive developments.
Zimbabwe has been working to re-establish ties with the international community, including the European Union (EU), of which Germany is a member, aiming to enhance economic relations and attract foreign investment.
The delegation engaged with several stakeholders, including the Zimbabwe Investment and Development Agency, the Ministry of Mines and Mining Development, the Ministry of Lands, Agriculture, Fisheries, Water and Rural Development, the University of Zimbabwe, and other private sector players.
Ms. Boke emphasized that these meetings conveyed to the German delegation that Zimbabwe is indeed “open for business.” She praised Zimbabwe’s Ambassador to Germany, Alice Mashingaidze, for her role in making the trip a success.
During both visits, the German Embassy provided investors with a comprehensive overview of investment opportunities across all sectors in Zimbabwe. The latest visit focused on mining and agriculture, areas of particular interest for different groups of investors.
“The ambassador, along with the Zimbabwean Ministry of Foreign Affairs, played a vital role in coordinating various meetings with local institutions such as the Ministry of Mines, the Ministry of Agriculture, and the University of Zimbabwe,” Ms. Boke noted.
A meeting with University of Zimbabwe officials explored potential partnerships, including a Memorandum of Understanding (MoU) with Freiberg University of Mining and Technology to facilitate student and faculty exchanges, training for university administrators and mining companies, scholarships for Zimbabwean students, and joint research, technology transfer, and project development initiatives.
“The German delegation was impressed with the warm welcome and professionalism of the Ministry of Foreign Affairs and International Trade, from our arrival at the airport to the various meetings,” Ms. Boke added.
She also acknowledged the efforts of Chamirayi Memory Mutasa and Mr. Knowledge Hofisi from Aurifin Capital for their key role in organizing the meetings with the private sector.
Ms. Boke noted that there has been a widespread misunderstanding of Africa outside the continent, and it is time for Africans to reclaim their narrative, transform the continent, and tell their own stories.
Next year, she said, Zimbabwe will be in the spotlight, showcasing not only its investment potential to the world, particularly to Germany, but also its rich culture and vibrant people.
She encouraged the Zimbabwean business community to “think big,” strive for excellence in every sector, create wealth and job opportunities for the youth, and envision a future where “brain gain replaces brain drain.”
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