Zimpapers Logo

A local firm has come up with a web-based concept that can be used to entice foreign investors to finance specific key projects such as Shabani-Mashava Mines

Business Reporter
Invest Zimbabwe, a local investment promotion company has developed a web-based concept to attract Foreign Direct Investment through marketing specific investable projects to foreigners who want to invest in the country’s socio-economic sectors.
Though its web-portal, the company will feature detailed information on projects that require fresh capital.

Other marketing platforms generalise investment information without providing specific details for each particular investable project.

The concept has since been endorsed by Cabinet which said “the web-portal will be useful in addressing some concerns by investors and provide another channel for updating would be investors on efforts being made to improve the business climate”.

Concept promoter Mr Ton Chirango told The Herald Business that little effort had been put on reaching out to investors with specific bankable projects as in most cases, potential investors were the ones approaching authorities seeking business opportunities. Through the initiative, Invest Zimbabwe will invite and identify investable project proposals that require equity funding. These projects will be posted on the web-portal in a summarised format with details such as amount needed for specific projects and their viability.

“Before promoting any project, we must be satisfied about its feasibility and viability,” said Mr Chirango.

Specific projects that Invest Zimbabwe seeks to commercialise include infrastructural projects that the Government intends to undertake, projects owned by private companies and individuals and projects that local authorities are planning to undertake.

The company will pursue all marketing methodologies and techniques to expose the portal to the international community through advertising the portal in international newspapers and magazines in targeted capital cities worldwide, said Mr Chirango.

Invitations will be made to international business correspondents to cover opportunities available in Zimbabwe. Invest Zimbabwe will also target specific equity funds with a focus on emerging markets while forging linkages with foreign business grouping.

In addition, the portal will be advertised through billboards in selected capitals and arranging guest appearances on international TV’s and radio programmes with focus on Africa.

Further, the company will organise outward and inward investor missions as well as publishing a Zimbabwe Investment Magazine that will be distributed at global investment summits.

The company will also develop downloadable apps on investment opportunities in Zimbabwe.

Mr Chirango believes there is lack of substantial information in regards to the projects wherein investment can be readily made. “There is no outreach to lure investors,” Mr Chirango said.

“As Invest Zimbabwe, we therefore, seek to commercialise opportunities that are available in various sectors of the economy and attract equity investment into them.

“While it is undisputed that, as a nation, we need a cognitive paradigm realignment of our investments discourse, we believe there is need for us to go to the capitals of the world to tell the true story about Zimbabwean story which has been massively distorted and negatively exaggerated by the international media thereby curtailing out ability to attract foreign direct investment. As it stands, we are attracting investments but in trickles, not sufficient enough to sustain the aspiration of ZimAsset.”