Zim­babwe-USA talk sanc­tions

Chronicle (Zimbabwe) - - Front Page -

“So what it means is that those ar­eas that are there, we need to deal with them. In fact we are quite happy that some of the ar­eas that are in the Act we have dealt with them.

“There are things like elec­tions, that is now a lit­tle tick that has been done. There are things like pay­ment of arrears to the IMF as recog­nised in the Act, that has been done. The eco­nomic is­sues which are to do with the in­vest­ment cli­mate in Zim­babwe — you are aware that we have amended the Indi­geni­sa­tion Act, so that has been done, and the other ar­eas which are there which are to do with re­forms in the econ­omy.”

Dr Man­gudya went on: “When we say that Zim­babwe is open for busi­ness, we are now walk­ing that talk say­ing what are those ar­eas we need to do be­cause by so do­ing we will also be at­tend­ing to the is­sues that are raised in (Zidera)

“. . . We do be­lieve that we are (tak­ing) the right course of ac­tion to con­tinue ne­go­ti­at­ing with the US govern­ment on the sanc­tions.”

On en­gage­ments with po­ten­tial in­vestors in the United States, Dr Man­gudya said at­tract­ing cap­i­tal was cen­tral to re-tool­ing ex­ist­ing in­dus­tries and open­ing new ones.

“We need pa­tient cap­i­tal to restart our in­dus­tries; we need pa­tient cap­i­tal to in­crease ca­pac­ity util­i­sa­tion in the coun­try, and we need it also for re-equip­ment.

“We have been talk­ing about all those ar­eas, and we are quite happy the meet­ings have been very pro­duc­tive. We have been able to reach some un­der­stand­ing with them in terms of the level we re­quire, in terms of amounts that we need, in terms of the time­line side.

“So, yes, the meet­ings have been very pro­duc­tive. But as you know in fi­nance, it is not an overnight is­sue. It’s about en­gage­ment, it’s about dis­cussing our re­quire­ments, it’s about the ex­e­cu­tion.

“You do not start with ex­e­cu­tion; you start by ne­go­ti­at­ing and talk­ing and then at the end of the day you have term sheets that will come our way and then we will be able to con­tinue dis­cussing and then ex­e­cute later.”

Asked which firms and in­di­vid­u­als they had en­gaged thus far, Dr Man­gudya said: “They are too many to men­tion, but we have met the likes of JP Mor­gan, we have met the likes of the Roth­schilds, we have met the likes of Citi Group…

“We are happy with all that they have said. In fact what we have no­ticed is that their ap­petite for Zim risk has im­proved over the past few months, and more so after the elec­tions.

“They now see Zim­babwe as a good in­vest­ment desti­na­tion. They see that the coun­try risk has been go­ing down, which is one of the things that has al­ways been in­hibit­ing Zim­babwe to get ac­cess to for­eign fi­nance.

“You are aware that with­out for­eign fi­nance it is very dif­fi­cult to man­age the econ­omy; it is also very dif­fi­cult for us to man­age our for­eign cur­rency ex­change mar­ket. So with the type of in­di­ca­tion that we are get­ting, Zim­babwe is ready to go.” GOVERN­MENT will en­sure re­sort ar­eas in Zim­babwe are ac­ces­si­ble to all vis­i­tors tar­get­ing the coun­try as a tourist desti­na­tion, Vice-Pres­i­dent Con­stantino Chi­wenga has said.

Govern­ment is also mak­ing it a pri­or­ity that Kariba Re­sort is ac­ces­si­ble by air and road trans­port.

In an in­ter­view after launch­ing the “African Dream” house boat in Kariba yes­ter­day, VP Chi­wenga said Govern­ment was work­ing on de­vel­op­ing Kariba so that it is ac­ces­si­ble to all tourists com­ing to Zim­babwe.

He said Kariba was ex­pected, un­der the Sec­ond Repub­lic, to grow like the Vic­to­ria Falls.

The launch of the African Dream was hosted by the Zim­pa­pers BoldAds Event Man­age­ment team.

VP Chi­wenga, who was ac­com­pa­nied by his wife, Marry, ap­plauded CroisiEurope in­vestors for in­vest­ing in Zim­babwe.

“CroisiEurope Com­pany op­er­ates ship­ping busi­nesss in 32 other coun­tries across Africa. Zim­babwe be­comes the 33rd coun­try.

“The launch of this African Dream lux­ury ship presents ex­cel­lent op­por­tu­ni­ties to show that Zim­babwe is now ready for busi­ness.

“It is a demon­stra­tion that Zim­babwe has the req­ui­site skilled force, which has made this dream come true,” VP Chi­wenga said.

The cruise ship is a col­lab­o­ra­tion be­tween the Zim­bab­wean and French gov­ern­ments.

“The in­vest­ment, which was done in part­ner­ship with a French-based com­pany, amounts to US$2,5 mil­lion and build­ing of the sec­ond ves­sel is at an ad­vanced stage,” VP Chi­wenga said.

“I am re­li­ably in­formed that build­ing of the sec­ond dream lux­ury ship will be com­pleted by March 2020.”

Ac­cord­ing to the in­vestors, plans are afoot to bring two boats to Lake Kariba.

“The African Dream lux­ury ship has been op­er­at­ing since March, with busi­ness re­ported to be im­pres­sive. Oc­cu­pancy from May to date is re­ported to be be­tween 80 to 100 per­cent.”

VP Chi­wenga said Govern­ment was mak­ing it a pri­or­ity for Kariba to be open to re­gional and in­ter­na­tional tourists.

He said the Govern­ment pro­gramme would be an­chored on en­sur­ing Kariba is ac­ces­si­ble.

“Govern­ment un­der the lead­er­ship of Pres­i­dent Mnan­gagwa will pri­ori­tise mak­ing the re­sort town of Kariba ac­ces­si­ble to the re­gion and the in­ter­na­tional world. This will en­tail that we make sure that the Kariba Air­port be­comes an in­ter­na­tional air­port open to re­gional and in­ter­na­tional mar­ket.

“We also tar­get re­con­struct­ing the HarareChirundu high­way link­ing the Makuti-Kariba high­way,” he said.

VP Chi­wenga how­ever be­moaned the so­cial in­jus­tice where res­i­dents around Lake Kariba were not ben­e­fit­ing from the dam.

In her wel­come ad­dress, newly-ap­pointed Min­is­ter of State for Pro­vin­cial Af­fairs in Mashona­land West Mary Mliswa said the launch of the African Dream proves that Zim­babwe is open for busi­ness.

“We are ex­pect­ing more in­vestors to start tak­ing ad­van­tage of the nat­u­ral re­sources in the prov­ince es­pe­cially in min­ing, agri­cul­ture and tourism,” she said.

Min­is­ter Mliswa said in heed­ing Pres­i­dent Mnan­gag­was’s call for de­vo­lu­tion, Mashona­land West would build its GDP based on agri­cul­ture, min­ing and tourism po­ten­tial.

The launch was at­tended by the mem­bers of the Sh­mit­ter fam­ily, who are the in­vestors.

Tourism, En­vi­ron­ment and Hos­pi­tal­ity In­dus­try Min­is­ter Prisca Mup­fu­mira, Lo­cal Govern­ment Deputy Min­is­ter Jen­nifer Mh­langa, Trans­port and In­fras­truc­tural Devel­op­ment Min­is­ter For­tune Chasi and sev­eral Govern­ment of­fi­cials were also present.


As of Fri­day last week, a to­tal of 7 501 cases had been recorded since the first case of cholera was con­firmed.

Glen View and Budiriro re­mained the epi­cen­tre with iso­lated cases re­ported in other parts of the coun­try.

How­ever, cases of sus­pected cholera are be­gin­ning to de­cline in Harare fol­low­ing mas­sive in­ter­ven­tions put in place by the Govern­ment and its part­ners.

Govern­ment has so far mo­bilised $29 mil­lion out of $64,1 mil­lion re­quired to fight cholera.

Of the $29 mil­lion, Govern­ment had con­trib­uted $15,1 mil­lion while devel­op­ment part­ners and the pri­vate sec­tor had con­trib­uted $13,3 mil­lion.

Last week, Fi­nance and Eco­nomic Devel­op­ment Min­is­ter, Pro­fes­sor Mthuli Ncube, said the fund­ing gap stood at $35,1 mil­lion, $34,9 mil­lion for medium-term in­ter­ven­tions and $3,7 mil­lion for long-term in­ter­ven­tions.

Newspapers in English

Newspapers from Zimbabwe

© PressReader. All rights reserved.