eBusiness Weekly
Enacy Mapakame
Global investors in the mining sector will soon head for Zimbabwe to follow up on business negotiations made in London as appetite for opportunities in the country increase across the globe.
This follows the successful holding of the third Arab and Africa Mining Conference and Exhibition in London last week, co-hosted by Financial Markets Indaba (FMI), where Zimbabwe participated.
The two-day conference that was over-subscribed by executives from global mining giants, Government officials and potential investors saw Zimbabwe articulate the mining investment opportunities available, the current business environment and steps being implemented to improve ease of doing business.
This resulted in investors suggesting follow up meetings in Harare to finalise on the business deals in the pipeline.
Representatives from the Republic of Iraq, Mali, Niger Republic, Nigeria, Rwanda, Guinea, Zambia, Zimbabwe and European Union participated at the conference.
FMI business development executive Patrick Muzondo, indicated several other mining companies from across the globe expressed interest in Zimbabwe, but failed to engage with Zimbabwean delegates due to time constraints.
“There is a huge appetite for mining opportunities in Zimbabwe with most investor companies present at the conference showing interest to invest in the mining sector.
“There are more mining investor companies that would have wanted to have meetings with the Zimbabwe delegation but because of time they could not be accommodated. A follow up arrangement has been put in place and most of them are willing to travel to Harare to have meetings,” he said.
At the conference, FMI organised closed door meetings with Government officials and other stakeholders where they discussed new mining developments in the country and why Zimbabwe is the most promising destination for mining investment and business in Africa.
“These meetings are one-on-one closed door intimate sessions which provides for specific discussions which lead to quick results by the decision makers.
“The main focus for FMI is to conduct closed door B2B (Business to Business) meetings because the participants in the meetings are decision makers, the sittings are more intimate, specific, direct and produce immediate results without wasting time for both parties,” said Muzondo.
Among other topics also discussed at the conference include the investment opportunities in Zimbabwe’s mining sector, policy framework, currency clarifications and repatriation of profits by foreign investors.
The conference also tackled political stability and other factors that affect ease of doing business for instance acquiring a business license, its cost and duration.
Mining is one of the key economic drivers for Zimbabwe and is expected to further buoy the economy going forward.
Global think tank, Fitch solutions, has projected Zimbabwe to become a mining giant in the Southern African region on the back of its vast mineral deposits and huge investments that favours the sector’s growth. Zimbabwe has vast mineral deposits ranging from gold, platinum, diamonds, nickel and chrome. The country is home to the world’s second largest known platinum deposits after South Africa, while its gold reserves are one of the largest in Africa.
Diamond reserves are also estimated to be the second largest after Russia.
The Arab and Africa Mining Conference and Exhibition is a highly-focused Project Presentation Conference, designed to support Arab and African nations in marketing new mining projects to high-ranking industry professionals from the UK and Europe.
It was established to encourage international investment into overlooked mining jurisdictions within Africa and the Middle East, and with a strong focus on the Sahelian countries of West Africa, the Horn of Africa, the Arabian Nubian Shield and Sub-Sahara.
