Investors ready to flock into Zimbabwe

Investors are going to flock into Zimbabwe once the elections, which should be held before31 July, are over, regardless of who wins.

This was the common sentiment after a four-day investor conference organised by Imara which was attended by about 140 investors.

According to a report by Iafrica- entitled: Zimbabwe: a hot investor destination -Zimbabwe will see an economic recovery within months.

Investor interest has been buoyed by the rapid growth of the Zimbabwe Stock Exchange which has surged 59 percent in the first five months of this year.

Although investors are said to be concerned about the country’s indigenisation laws, one United States fund manager said: “It doesn’t matter what the policies are. If we know what we’re dealing with, we can work around it. As it stands now it’s a moving target.”

Some of the investors are, however, still holding on to the forlorn hope that the indigenisation programme will be reversed by a new government including a Zimbabwe African National Union-Patriotic Front government.

But everyone admits that Zimbabwe has immense potential.

“There is a massive output gap between the size of Zimbabwe’s economy and its productive potential,” another United States fund manager said.

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