ZIMBABWE has urged South African and other investors to take advantage of opportunities which have opened up in the face to company closures and the economic challenges that Zimbabwe is going through, which nevertheless offer new business possibilities.
Addressing a South Africa trade mission team in Harare recently, Industry and Commerce minister Mike Bimha said that although the country was going through challenges, there were companies like cement manufacturers PPC which were thriving.
“I, therefore, take my hat off to companies like Pretoria Portland Cement (PPC) who still see the light. I encourage all investors to take advantage of the opportunities made available by company closures and operational challenges due to economic challenges in the country,” Bimha said.
Trade mission members in overalls and hard hats toured Shamva Mine, a subsidiary of Zimbabwe’s largest gold mining group Metallon Corporation.
“I urge South African investors to come and take a leaf from PPC and come to invest in Zimbabwe. Despite what has been said by foreign media, Zimbabwe remains open to investment from abroad, as you have seen.”
Bimha said there was urgent need for investment in the construction of dams, highways and bridges, among others, adding that the investment by PPC would go a long way to support development in the country.
PPC, a South African company, is in the process of building a new plant in Harare worth $86.1 million and has capacity to produce 100 tonnes of cement per hour, making 780,000 tonnes per year.
PPC project leader Craig Belstead said the group was now at the stage of ramping up the civil constructions and that all the foundation works were in place. He said the new plant would be commissioned in September 2016.
The trade mission also toured Shamva Mine, a subsidiary of Zimbabwe’s largest gold mining group Metallon Corporation.
The visit by the South African trade mission was a follow-up to the Zimbabwe Trade and Investment Forum hosted in Johannesburg last month by the Zimbabwean Embassy in South Africa, the Mail & Guardian Africa and South Africa’s Department of Trade and Industry.