SA summit to explore Zimbabwe investment prospects

by AKANI CHAUKE
JOHANNESBURG, (CAJ News) – SOUTH Africa will this week host the Zimbabwe Investment Summit to highlight the latter’s economic prospects, attract investments and promote networking.

The event will be held on Thursday and Friday, themed, “People you can invest in.”

Prominent local and global economists, investors, government representatives and academics will gather in Johannesburg to discuss Zimbabwe’s current economic climate and investment opportunities.

Zunaid Moti is a prominent South African businessman and Chairman of African Chrome Fields (ACF). ACF is one of the largest investors in Zimbabwe, and sponsors for the event.

“Zimbabwe’s economy is ripe for growth and expansion, with a wealth of untapped potential and significant competitive advantages, including a rich commodities sector. Investors who enter now stand to benefit enormously over the next few decades,” he explained.

ACF and Moti will be key figures at the summit.

ACF’s six wash plants currently produce an average of 850 tonnes of chrome concentrate daily with a high-quality grade of between 48 percent and 51 percent, with a total estimated production capacity of 24 000 tonnes per month.

The company has invested over R1,2 billion into Zimbabwe since its founding, including launching an R800 million beneficiation plant last year . It employs over 600 people throughout its operations.

Zimbabwe has drawn increasing attention among international investors, as many of its industries have experienced considerable growth over the past few years.

Tourism, mining, and agriculture in particular continue to demonstrate strong prospects, with the latter two having played a sizable role in growing the country’s real GDP by 5,5 percent in 2023. Notably, the country boasts a rich store of platinum group metals (PGM), and the world’s second-largest deposit of high-grade chromium.

According to the United Nations Conference on Trade and Development’s latest World Investment Report, Zimbabwe’s foreign direct investment (FDI) has grown more than five times over the past two decades.

– CAJ News