Zimbabwe still a magnet for long-term investors

Zimbabwe remains an attractive investment destination for long-term investors with a focus on sub-Saharan Africa despite its mounting economic woes, according to a local advisory firm.

“Foreign investors and portfolio managers with an interest in the region tend to be long-term strategists and value investors. They are looking five or 10 years down the line. Some take a 30-year view,” said Imara Edwards Securities executive director, Tino Kambasha.

Imara is an independent, Botswana-listed investment banking group with offices in Angola, Botswana, South Africa and the UK and associate offices in Malawi, Mauritius, Zambia and Zimbabwe.

The group is an active participant in Africa’s financial markets and maintains extensive research coverage of regional equities.

Kambasha said despite negative reports about retrenchments, company closures and the challenges facing the mining and agricultural sectors, the country had potential.

“They (investors) are well acquainted with current difficulties and market risks, but they also see value opportunities,” he said.

Imara is set to host its annual investor conference from May 21 to 22 in Harare which is expected to attract fund managers and investors from Europe, the Middle East, Asia and America.

The conference, which seeks to provide investors with information on opportunities in the country, will include presentations from the mining, agri-business, hotels and tourism, retailing, beverages, construction and manufacturing sectors.- The Source

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