The Ministry of Finance and Economic Development has started rolling out its global business roadshow programme meant to attract increased investment into Zimbabwe and showcasing the comprehensive economic policy reforms being implemented by the Second Republic.
Guided by the National Development Strategy (NDS1 2021-2025), a successor blue-print to the Transitional Stabilisation Programme (TSP-2018-2020), the Government is working on transforming the economy towards an upper middle-income status by 2030.
Revitalising domestic and foreign investments is critical under this drive, as the country seeks to widen job opportunity and foster inclusive growth in line with the global sustainable development goals.
“Zimbabwe Global Investor Roadshow kicked off today (Wednesday) in Cape Town. Here I am with the investment team at Allan Gray, one of the largest portfolio investors into Zimbabwe and African markets.
“We marketed Victoria Falls Stock Exchange as a hard currency investment platform,” said Prof Ncube in an update on his official Twitter account late Wednesday.
The minister said the Global Roadshow was aimed at positioning Zimbabwe as an economy and attractive investment destination in recovery.
The positive outlook on economic performance for 2021, on the back of successful economic reforms and good rainfall season, said Prof Ncube, speaks strongly to recovery.
Already the country’s expects huge impetus from the anticipated bumper harvest and the projected positive gains from the mining sector. Revitalising domestic industrial value chains and enhancing more value addition and beneficiation are expected be a game changer for Zimbabwe. The interventions include energising financial markets investments and unlocking savings for key development projects.
“In the Global Investor Roadshow, we positioned the Victoria Falls Stock Exchange (VFEX) as an attractive platform for investors aiming to raise capital in hard currency for investment into Zimbabwe and Africa in general,” said Prof Ncube.
“Government will also issue bonds on VFEX to raise capital.”
The Government launched the Victoria Falls Stock Exchange (VFEX) last year in October.
And to complement this drive, Victoria Falls has been accorded a Special Economic Zone status and is likely to attract higher investor interest through the VFEX and lead to industrial growth.
The move buttresses the Second Republic’s mantra “Zimbabwe is open for business” and locals need to grab the opportunity and be part of the transformation.
Earlier Prof Ncube had said the local investor campaigns were expected to dispel scepticism among citizens who have lost hope in investing in the stock market and retail products such as exchange traded funds (ETFs) and relisted investment trusts (RITS).
The past hyper-inflationary experience saw many people losing savings over the years hence the need to rebuild confidence.
Meanwhile, Zimbabwe Stock Exchange (ZSE) chief executive officer, Mr Justin Bgoni, told Bloomberg that the global investor roadshows would help ensure that investors understand recent macroeconomic developments, including its currency reforms.
He said plans were also underway to take the roadshow to London and New York where Zimbabwean officials will also meet counterparts from Johannesburg-based lender Investec Plc.a