Zimind birthes Investor Forum – The Zimbabwe Independent

0

IN an economic environment thirsty for fresh capital, the diversified media group Alpha Media Holdings (AMH), publisher of NewsDay, Zimbabwe Independent and Standardfound innovative ways to drive positive change.

Defended by the leading economic weekly, the Independent from Zimbabwe, in partnership with PiggyBank Advisor, the Zimbabwe Investor Forum will go live on Thursday next week at the Harare International Conference Center (HICC) under the theme “Long Term Sustainable Investment Options”. This is part of our contribution to nation building by creating new platforms to stimulate debate between the state and other key actors such as businesses and citizens.

Beneath the target is a huge market of policymakers, parastatals, insurance companies, individuals, development finance institutions and financial service providers. Others are private equity investors, lawyers, property developers, regulators, academics, diplomats and investors.

From the indaba lineup, we aim to make this the largest annual event with tangible results, as the conference provides leverage on networking and showcasing investment opportunities in Zimbabwe.

Thursday next week will be a busy day as experts discuss interesting topics relating to the economy and investment outlook, reform of Zimbabwe’s parastatals and state-owned enterprises, and innovative investment options in utilities. Other key areas to discuss are corruption and corporate governance issues in the public sector, derivatives and cryptocurrencies. Companies will also have the opportunity to present products and investment opportunities.

The day will end with a glamorous event. Individuals and companies who have been instrumental in promoting domestic and international investment flows will be honored at the awards night.

“To that end, as Alpha Media Holdings, we want to organize a serious investment conference that examines our state-owned enterprises (public enterprises) with a view to attracting long-term sustainable investment,” said the general manager of AMH, Kenias Mafukidze.

“The intention is to engage not just internationally, but to tap into our local investors so they think long term. We have a vibrant insurance industry that should be encouraged to pour resources into investments long-term.

At the height of the mid-1990s, parastatals contributed 40% ($4.5 billion) to Zimbabwe’s gross domestic product (GDP) of $9 billion. In 2021, the Ministry of Finance said the figure had dropped to 12% due to poor management and under-capitalisation.

In 2017, 38 of the then 93 state-owned enterprises were estimated to have suffered a combined loss of US$270 million in one year. Many more were bleeding and technically insolvent. It was a disaster. Under normal circumstances, public companies provide cheaper services to the public, and due to their size, they must benefit the economy because private companies are forced to reduce their prices. The investors’ conference comes at an opportune time given that Zimbabwe has only received a quarter of the approximately US$2 billion paid to regional peers such as Mozambique.

According to the Zimbabwe Investment and Development Agency (Zida), 126 new investment projects were approved in 2021, with an investment value of $557.7 million. These new investments exclude projects that required renewals.

According to the United Nations Conference on Trade and Development (UNCTAD) World Investment Report 2021, foreign direct investment (FDI) in Africa fell by 16% in 2020, from $47 billion. US to US$40 billion in 2019.

Investment, whether local or foreign, is an important factor in economic growth.

But for the country to attract and grow investment, the government needs to address the following issues raised by potential investors: currency uncertainty and volatility, interpretation or application of existing regulations, legal system, tax regime, infrastructure issues and barriers commercial. Consistency in policy reporting and implementation is key to building investor confidence. As we have repeatedly said, the government must implement long-term monetary policies that keep businesses safe.

The conference will dissect these questions. Above all, the indaba will provide an opportunity for the government and businesses to present the country as a safe and quality investment destination.

As Zimbabwe Independent, we continue to evolve and introduce new premium products tailored to business leaders, policy makers, investors and administrators.

  • For registrations, sponsorships and exhibits, email [email protected] or call +263 773 417 267.


Source link

Share.

Comments are closed.