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South African Business Delegation Visits Bulawayo

Bulawayo central business district
A South African business delegation is in the country to hold meetings with their Zimbabwean counterparts as the nation struggles to lure the much-needed foreign investors after the disputed July elections.

The delegation Wednesday held a conference in Bulawayo in an attempt to create business deals between the two countries.

Investment inflow figures compiled by the United Nations Conference on Trade and Development last year show that Zimbabwe attracted only $400 million worth of investment and neighbours Zambia and Mozambique drew in between $1 billion and $2 billion in foreign direct investment.

Government sources tell VOA Studio 7 that panic is now creeping in as potential investors are still skeptical about investing in the country.

Business leaders confirm that they have been holding a series of meetings with the government to find ways to attract investment.

Zanu-PF spokesman Rugare Gumbo told Studio 7 that the ruling party has changed its confrontational and top down strategy and is now engaging all stakeholders.

The party promised in the run-up to the election that it will create two million jobs within the next five years. But the gloom in industry has forced some Zimbabweans to leave the country and make an exodus to neighbouring nations.

Zimbabwe Investment Authority chairman, Nigel Chanakira, said a lot still needs to be done to attract foreign investors.
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