Harare, Zimbabwe — 03 May 2013 – The government of Zimbabwe has revealed that South African investors are considering investing at least US$1.6 billion (R13.37 billion) in capital projects in various sectors of the Zimbabwean economy, including beneficiation projects in the mining industry.
Fin24 reports that Zimbabwean minister of economic planning and investment promotion Tapiwa Mashakada said his country had received various project proposals since it held a high-level trade and investment conference in South Africa earlier this month. He was addressing delegates attending the Zimbabwe-South Africa Trade and Investment Conference at the Zimbabwe International Trade Fair.
The minister revealed that among the projects which had drawn interest from South African investors were the establishment of a diamond cutting and polishing centre, as well as a gold refinery.
Speaking at the same conference South African deputy minister of trade and industry Elizabeth Thebethe urged Zimbabwe to create strong trade synergies with her country, as it was the continent’s biggest economy. She added that with the right policies, Zimbabwe was bound to fully recover.
Thabethe also mentioned that two-way trade between the two countries in 2012 stood at R18.8 billion compared to R18.5 billion in 2011 and R16.5 billion in 2010.
Source: Fin24. For more information, click here.