Corruption and lack of confidence in the Zimbabwean banking sector hampering foreign direct investment inflow.
The country has been on a drive to lure foreign investors but capital injection remains depleted as potential suitors from abroad adopt “a wait and see attitude”. South African based political and economic analyst Brian Kagoro told ZiFM Stereo’s Senior News Reporter Martha Mamombe that corruption and lack of confidence in the financial and banking sectors make it almost impossible for investors to have long-term commitments.
The country’s industry is in desperate need of investment to increase capacity utilization. Zimbabwe is home to some of the region’s most impressive mineral reserves and, with its friendly weather- opportunities in agriculture are abundant.