The vice-president of Zimbabwe, His Excellency Mr. Kembo Mohadi, calls for investment from Spanish companies during his visit to the country.

Madrid, 13th March 2018

Today at midday the vice-president of the Republic of Zimbabwe, his Excellency Mr. Kembo Mohadi, and the Zimbabwean Ambassador to France, Spain and the Vatican City, her Excellency Rudo Chitiga, took part in a working lunch entitled, Opportunities in Zimbabwe, organized jointly by Lupicinio International Law Firm and the office of the Honorary Consul of Zimbabwe, Mr. José María Viñals Camallonga. During the event, which took place in the offices of Lupicinio International Law Firm, opportunities for investment in Zimbabwe were discussed.

Mr. Lupicinio Rodríguez, Executive Director of Lupicinio International Law Firm, opened the event, with his welcome accompanied by an historical eulogy of the past of Great Zimbabwe, at its time the most sophisticated city on the continent. He also criticized what has come to be known as Global Apartheid, a phenomenon which accompanies globalization and sees large companies and service providers intervening in local markets to the detriment of local businesspeople. He emphasized his company’s commitment to the preservation of the values, culture and identity of local colleagues through collaborations that aim to strengthen their position in the market rather than compete with them.

Mr. Kembo Mohadi, who met this morning with the Minister of Foreign Affairs, Mr. Alfonso María Dastis Quecedo, encouraged businesses to invest in Zimbabwe. Amongst the reasons he offered in favour of Zimbabwe as an attractive prospect for foreign investment, he included:

  • The advent of legislative changes such as the abolition of indigenization laws, the bureaucratic simplification of the processing of new businesses, and the creation of a free zone with attractive taxation.
  • The commitment of the current Zimbabwean government to comply with their debts to financial institutions, for which investments that allow an increase in local production in strategic sectors would move the country’s trade balance significantly.
  • The potential for development in a country with vast natural resources and a significant growth forecast for 2018.
  • The geographically strategic location of Zimbabwe as regards international business.

 

Mr. Mohadi did not hesitate to note that corruption in Zimbabwe is an obstacle to growth, and he confirmed that it will be necessary to battle corrupt practices in order to create opportunities for prosperity. He also commented on the character of Zimbabweans, who are renowned for their ability to resolve problems. Moreover, the new government has stressed the importance of increasing competitiveness through improvements in education and the creation of a business culture that facilitates the arrival of new investors. Finally, he highlighted the importance of the protection of private property, as has been seen in the campaign for the return of expropriated lands to farmers which was started last year by the Mnangagwa government.

 

The lunch counted with numerous distinguished attendees, with representatives from leading Spanish businesses with an interest in investing in Zimbabwe at this stage in its development. There was a brief question and answer session, in which the growing interest of Spanish companies in Africa, which is seen as being on the brink of a social and economic renaissance, was apparent.

The event also welcomed various diplomatic representatives from other African nations, amongst them his Excellency Mr. Lulama, Ambassador of South Africa in Spain, as well as other representatives from Zimbabwe who formed part of the diplomatic contingent of the Vice-President and Ambassador. This event followed the January visit of the Minister for Tourism of Zimbabwe, Prisca Mupfumira, as part of her presence at FITUR, and it is a further example of the increasing diplomatic effort being made in the past months by Ambassador Chitiga.

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