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Africa Moyo
SOUTH Africa-based property magnate, Timothy Mncube, who recently expressed interest to invest in Zimbabwe, has obtained a certificate of incorporation from the Registrar of Companies, as he steps up efforts to start operating locally.

Mr Mncube – who has been operating in South Africa for the past 27 years – wants to set up a business in Zimbabwe to take advantage of opportunities arising following the coming in of a new administration led by President Mnangagwa.

President Mnangagwa made an impassioned plea during a business conference attended largely by Zimbabwean businesspeople on December 21 last year in Pretoria, South Africa for them to invest in Zimbabwe.

Mr Mncube told The Herald Property yesterday that he is in the final stages of preparing to start a company in Zimbabwe.

“I can confirm that I have now obtained a certificate of incorporation. We are just working on one or two issues before we start operating in Zimbabwe.

“Last weekend, I was in Zimbabwe to meet at least two ministers but I couldn’t because they ended up getting committed and I should be back on Wednesday (tomorrow).

“I think it is important for all businesspeople based in other countries to come back home and set up companies in Zimbabwe so as to develop the economy,” said Mr Mncube.

Mr Mncube – who is into construction of houses, shopping complexes, blocks of flats, soccer stadia, roads, and the provision medical drugs, medical apparatus and ambulances – said he was happy that the culture of doing business is slowly but surely changing in Zimbabwe.

He said it took five days for his company, ALW Team Investments (Private) Limited, to get the certificate of incorporation.

“I am happy that efforts are being made to improve the ease of doing business in Zimbabwe. Getting a company registered in five days is quite an improvement in a country where it took many days in the past.

“The ease for doing business reforms in the country are beginning to bear fruit,” said Mr Mncube.

Government, through the Rapid Results Initiative led by the Office of the President and Cabinet, has slashed the number of days it takes to register a company.

It used to take 90 days, but that has since been reduced to five days. Efforts are underway to reduce the number of days to three in the near future.

Mr Mncube’s South African company – ALW Investments – has a net worth of R100 million (US$8,1 million) and employs 150 people directly.

ALW Team Investments intends to focus on road construction and development of other infrastructure linked to the transport network for public efficiency.

Apart from constructing new roads, the firm can repair old and ravaged roads in urban areas and highways.

Mr Mncube said his firm has the funds and can access more funds to initiate the construction of roads.

“We wish to see Zimbabwe becoming great again. Through our works, we are hoping to help rebuild Zimbabwe so that it becomes a centre for economic development and tourist attraction centre,” said Mr Mncube.