Harare, Zimbabwe (News of the South)-Government is stepping up efforts to attract foreign investors by contacting various likely investors such as Ali Dangote so as to meet its target of 25% of the GDP, according to a senior official.
Macro-Investment Minister Obert Mpofu said they were in the process of engaging Dangote, one of Africa’s richest man, to come and invest in the country after he developed cold feet the first time.
Dangote came to Zimbabwe in September 2016 and expressed keen interest to pour millions of dollars into power generation, coal mining and cement manufacturing.
He met the President and the two Vice Presidents, Cabinet ministers and representatives from the corporate sector.
However he later withdrew without any investment for inexplicable reasons according to Mpofu.
“Initially Ali Dangote came to me and said do not try to convince me to invest in Zimbabwe as I have already made up my mind to do so, however he later developed cold feet for reasons I don’t know”.
“We have sent a team to engage Dangote and we are positive that very soon they will be some movement towards actualizing the investment”, he said.
Mpofu added that it wasn’t only Dangote but that government is in the process of talking to various potential investors.
The unwillingness of Dangote to invest in the country was a huge smack upon the government which had touted the move a milestone achievement for the country reeling under the mass exodus of investors.
Mr Dangote had already secured the requisite licences from the Zimbabwe Investment Authority whilst his Nigeria Stock Exchange-listed conglomerate had expressed a desire to set up a cement manufacturing plant that would produce at least 1,5 million metric tonnes per year.
Comments
About Author
