American investors eye Zimbabwe | Business Times

PHILLIMON MHLANGA

A delegation of Atlanta Black Chambers (ABC) members is in Zimbabwe on a visit which seeks  to foster trade, investment, economic and cultural exchange between Zimbabwe and the United States, Business Times can report.

The team is made up of investors and experts in various industries, including agriculture, real estate, manufacturing, mining and biotechnology.

 

The visit to Zimbabwe is a component of a broader expedition that  also includes trips to South Africa and Zambia. During the mission, several memorandums of understanding between ABC and business associations and companies in Zimbabwe are anticipated to be inked.
The Zimbabwe Embassy in the US arranged the engagements between the ABC and CEO Africa Roundtable, who are cohosting the mission with the Zimbabwe Investment and Development Agency and the Confederation of Zimbabwe Industries, during a visit to Atlanta in May of last year.

Speaking at a press conference on Sunday, CEO Africa Roundtable chairman Oswell Binha stated that the ABC’s purpose was in perfect alignment with the group’s dedication to promoting cooperation and advancing sustainable economic growth and development in Africa.

“We applaud their efforts to foster trade, investment, economic cooperation and cultural exchange between the US and Zimbabwe,” Binha said.

 

He added: “This mission aligns perfectly with the CEO Africa Roundtable’s commitment to fostering collaboration and driving sustainable economic growth and development in Africa.

“The visit by the Atlanta Black Chambers serves as a testament to the growing interest in Zimbabwe’s business landscape and the recognition of its potential as a vibrant market for international cooperation. Thus, this serves as an opportunity to improve on the current low volumes of trade in goods, which have failed to reach US$1bn for the past 5 years, between the US and Zimbabwe.

“We believe that initiatives like this play a crucial role in promoting inclusivity, diversity, and economic empowerment. By connecting African diaspora communities with their countries of origin, we can leverage their expertise, resources, and networks to drive sustainable development and create shared prosperity.”

 

Speaking at the same event, the Atlanta Black Chambers head of delegation, Ricardo Berris said: “It is amazing what you have here in this country and I hope you see the value in that because we also see that value and that is the big part of the reason we are here.”

Tadeous Chifamba, the Zimbabwean ambassador to the US, stated that this interaction was a part of the government’s outreach to the diaspora community initiative.

 

“Our message was that Zimbabwe’s future is not dependent on aid but on mutually beneficial partnerships and we highlighted the many investment opportunities that Zimbabwe has to offer. Beyond our natural resources, our flora and fauna and our human capital is among the best and it is highly adaptive and efficient.

“It is important that as you are here, you begin to appreciate the difference between what you hear on cable news and the actual reality of Zimbabwe. We have been receiving very hostile press for a long time and this opportunity will create a new understanding, a new perception of Zimbabwe which I hope you will be able to share with the global membership of the Chamber,” he said.

The ABC group was joined by the Investments in Manufacturing Production and Infrastructure (IMPI Inc) , a consortium of Zimbabwe scientists which aims to construct   a biotechnology city in Zimbabwe

In addition, IMPI Inc has also identified US businesses  that are ready to set up subsidiaries in the Biotechnology City under the first phase of the project which will have an investment of about U$100m.

Dr. Tawanda Gumbo, the chairman of the IMPI board, stated that the consortium was raising  roughly US$70m  to invest in the  new city in Zimbabwe.

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