Zim eyes north African market

By Rungano Dzikira

The exports trade body, Zimtrade has challenged captains of industry to tap into the African market in-line with Government’s re-engagement policy, following the just ended Intra-African Trade Fair (IAFT) held in Cairo, where Egypt, among other African countries expressed interest to invest and trade with Zimbabwe.

Speaking on a feedback indaba in the capital, Zimtrade chief executive Allan Majuru, said that investment opportunities in the local market had interested a number of African investors.

“A number of African countries expressed keenness to invest in the country at the just ended intra- Africa trade conference in Egypt. As such the Zimbabwean industry can leverage from this renewed interest to then generate the much needed foreign currency from Foreign Direct Investment (FDI) from within the region.  

“Whilst emphasise on marketing brand Zimbabwe, and Zimbabwe being open for business has been taken to the international scene, and Southern Africa, the Northern African region remains an untapped market,” he said.

Majuru told delegates at the indaba that as captains of the Zimbabwean industry, “there is thus need to map way forward on ways to lure and avail opportunities to these willing investors.”

He  also added that Egypt was currently seized with putting together a slew of proposals in the energy and manufacturing sector worth over USD $3, 5 million which would see a fact finding business delegation in the country by March next year.

He also urged industry to align companies with regional demands in order to increase their foothold on the continent as this could drive and increase foreign direct investment in the country.

Areas which had caught investors’ interest included the manufacturing and energy sector which the Government has been currently working on to scale efforts in arresting commodity artificial shortages on the domestic market.