Britain is playing its part to encourage investment and to identify investment opportunities in Zimbabwe, according to Minister of Minister of State, Department for International Development, Lord Bates.
He was responding to a question from the Bishop of Southwark, Christopher Chessun who wanted to know how the British government was planning to respond to the preponderance of Chinese investment both in Zimbabwe and other African countries.
“I do not think that we see investment in Africa by any country as a problem,” Lord Bates responded.
Britain and Zimbabwe have been at loggerheads with Zimbabwe accusing its former coloniser of orchestrating European Union sanctions on Harare.
The sanctions have since been lifted except on President Robert Mugabe, his wife and the Zimbabwe Defence Industries.
Britain has also not been providing its aid directly to the Zimbabwean government.
Lord Bates went on: “We see a significant gap in finance and investment, which Africa needs.
“The gap to meet the global goals is some $2.5 trillion per year whereas aid flows amount to only some $150 billion.
“The gap has to be filled by private investors.
“We welcome them from wherever they come.
“As the right reverend Prelate will know, we are certainly playing our part in Zimbabwe to encourage investment and to identify investment opportunities in both directions.”
Q &A
The Bishop of Southwark – The Minister may know that I am a regular visitor to Zimbabwe, where my diocese has links with four of the five Anglican dioceses there. How do Her Majesty’s Government propose to respond to the preponderance of Chinese investment both there and in other African nations, both in infrastructure and major economic undertakings?
Lord Bates The Minister of State, Department for International Development- I do not think that we see investment in Africa by any country as a problem. We see a significant gap in finance and investment, which Africa needs. The gap to meet the global goals is some $2.5 trillion per year whereas aid flows amount to only some $150 billion. The gap has to be filled by private investors. We welcome them from wherever they come. As the right reverend Prelate will know, we are certainly playing our part in Zimbabwe to encourage investment and to identify investment opportunities in both directions.
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