Zimbabwe-USA talk sanctions
“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.