A former business partner of billionaire George Soros says if anyone is looking for something to buy that person should think about Zimbabwe.
But he lamented that though Zimbabweans leaders were travelling across the world saying Zimbabwe is open for business, the climate was not right in the country.
Jim Rogers, who worked with Soros at investment bank Arnhold and S. Bleichroder in 1970 then founded the Quantum Fund with Soros in 1973, said he was buying Zimbabwe.
He told Kitco News almost three months ago: “I am buying Zimbabwe. Zimbabwe was ruined for 40 years by a crazy dictator. There’s a new guy, he may be worse, he may be better, but he’s certainly different, so you should think about Zimbabwe if you are looking for something to buy.”
The interview was re-run last week and when asked by The Insider yesterday if he still held the same views, Rogers and American currently based in Singapore, said he was not so upbeat now.
“Zimbabwe is going around the world seeking investors to put money into Zimbabwe, but they make it almost impossible,” he said.
Rogers who is chairman of Rogers Holdings and Beeland Interests and had a networth of $300 million says he was the first foreigner to invest in Zimbabwe in the early 1990s when the Zimbabwe Stock Exchange opened up for foreign investors, but now brokers had made it impossible for him to invest more.
“It is bizarre and astonishing,” he said.
Asked to explain who was blocking his investment, Rogers replied: “The government has been in New York et al asking international investors to invest in the new Zimbabwe.
“I was the first foreigner to buy shares there in the early 1990s when it became legal.
“I went back to my broker recently, but they said I could not invest anymore even though the account was still there and they remembered me. They said the bureaucracy does not allow it now. The Embassy where I live was also astonished. I wrote the new head of government. But was ignored.”
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This is very weird. First, i have had zero to do with Soros for over 40 years. Second, i have had a account there over 30 years which still has assets in it. Zimbabwe says they want investors yet will nor let me invest. All the broker has to do is change the account over. This is 2020 — not 1990. May i urge you to publicize the correct facts that Zimbabwe is an absurd bureaucracy that does not help investors? I have been investing around the world for decades so i am aware this is bizarre and lunacy. Someone should enter the 21st century. Thanks.
Unbelievable. I try to comment yet your site will not allow it. Bizarre.