ZNCC/SA-Zim Business Connection sign MoU

THE Zimbabwe National Chamber of Commerce ( ZNCC) and the South Africa Business Connection have signed a Memorandum of Understanding to pave way for collaboration in promoting business investments between the two countries.

SA-Zim Business Connection was launched in August 2009 to encourage South African businesses to explore business opportunities in Zimbabwe with a long-term view of revitalising the economy.

ZNCC Bulawayo chapter chairperson Mr Tjidzanani Malaba and president of the SA-Zim Business Connection Mr Justice Maphosa signed the MoU document on behalf of their entities in Bulawayo last week.

Mr Maphosa is Zimbabwean based in South Africa. He is one of South Africa’s biggest information technology (IT) sector entrepreneurs, whose IT company, Big Time Strategic Group, is reportedly worth R5 billion.

Speaking during the signing of the MoU, ZNCC marketing manager Mr Velile Dube said as a starting point, ZNCC was compiling an investee directory, which would list all the companies that need investment.

“We are compiling the list of companies that need or seek investment. South Africa will be coming up with a list of potential investors and then the harmonious lending of the two will take place. This is the beginning of that journey,” said Mr Dube.

Mr Maphosa described the MoU as a relationship of goodwill, adding that Zimbabwe’s products should give back to the country because it (the country) really needs them.

“We are not here to grandstand but we are here because Zimbabwe needs us. There are lots of opportunities for investment here from South African businesses and we are here to get the necessary information needed as there are concerns about issues of land rights, the bond notes and the indigenisation policy,” said Mr Maphosa. — @BiancaMlilo