Zimbabwe, Cambria Africa, IMF discussed on Business Daily

Business Daily
|

Automatic TRANSCRIPT

Whether you can trust mnangagwa's government. What investors were looking for most substantially is a sense of stability, a sense of transparency, a sense that the investment environment would no longer be as politicized as it has been over the past two decades. And I think events over the past weeks have shaken that confidence. Investors are going to need a lot more reassurance. They're going to see need to see a lot more material demonstrations that the investment environment will not be as politicized that the government will protect foreign investment assets. Foreign investors have perhaps also looking to institutions like the World Bank or the IMF to see if they're going to reestablish ties with Zimbabwe. Have we had any indication from them? There are a lot of rumblings that are positive, and I think this points to one of the most promising aspects for Zimbabwe over the coming months. Whether one on Gagua knows that or not. He has a key up his sleeve and that is the international community does not want some Bob lead to fail. It does not want some Bobby to once again become a pariah state. So you will see a short memory in terms of election violence over the past few weeks. And you'll see institutions like the IMF even in governments like the United States and the British government seeking to wherever they can ensure that some Bobby gets back on its feet. It's in the interests of symboblic and international community that the country becomes the success. Once again, duct child Laurie of maple Croft Samir Shasha is CEO of Cambria Africa and investment company with a number of interest in Zimbabwe, including logistics, business and a hotel. Zimbabweans are very educated. They're extremely hardworking. They're extraordinarily resourceful and Zimbabwe's. One of the most educated countries in Africa. I think it's far. Preferable to Zambia to Mozambique to Malawi, even to Namibia the level of corruption is is far less than let's say, Mozambique level of bureaucracy is far less than Muslim beak, ease of doing business and the standards of doing business are are easier. So in many ways, the business law is far more respected in Zimbabwe than many of the neighboring countries show. Symbolic boy has an abundance of natural resources with diamonds, platinum and gold among the valuable minerals to be found there. He one is the executive chairman of prospect resources and Australian company that's built a lithium mine just outside Harare. He gave me his take on the investment climate in Zimbabwe, nothing its tractive. It's it's obviously Africa, so it has the African risks. But as a small balance shake company, we always go into countries where. Balanced shade is competitive against large companies in terms of Zimbabwe, we lock it down experience over the last five years has been very positive. We found the rule of law works well, we've found the government processes work well and with the new government, we've found a tremendous change in the fact that the process is working very well. We'll find better. We've heard the countries I've been for business, but we've really saying it in in terms of where the ground give us some examples of where you've seen proof that does Imbaba way is in fact open for business most since the new government's been put in place with received national project status for the Katya lithium project, which gives the project of the IT exemption for importation of capital equipment to bring the mine into production. We've also been included in the rapid response initiative way by the government identity. Fide said mining projects and other industry projects that they see will bring a big benefit the economy and say, they've put together a committee to help that project get into production..

Coming up next