Ishemunyoro Chingwere Business Reporter
The Ambassador of the Caribbean islands of Antigua & Barbuda to Nigeria, Brigadier-General Dr Wallace Williams, has warned businesses to be worry of exploitative partnerships as the country opens up to investment after years of isolation.
Zimbabwe, under the new dispensation, is looking up foreign direct investment to anchor to economic revival and President Mnangagwa is leading an investment charm offensive to bring back foreign capital on the local market.
The offensive has resulted in increased investor traffic both on actual investments, commitments and enquiries.
Addressing the inaugural Pan African Business Summit held in Gweru last week, Dr Wallace said Zimbabwean companies, now than ever, need to ensure they get into business arrangements that are mutually beneficial both to the investor and locals.
“Pick partners that will support your national policy and strategy and will help you to achieve it,” said the envoy.
“So these come in as partners, they are not coming to take the resources, give you a bit of money, bring their own employees and leave you with nothing.
“So this strategy to make sure you benefit must inform your national policy. Also make it a point that you measure (investor) performance, report it, learn from it and build on it,” he said.
President Mnangagwa has persistently implored investors to keep their timelines, particularly in the mining sector and avoid holding on to resources for speculative reasons.
The summit was organised by River Valley Holdings and attended by captains of industry and businesspeople.
Speaking at the same event, River Valley Holdings chairman Mncedisi Dube urged businesses from the Midlands Province to leverage on the summit and grow in line with Government’s devolution strategy.
The summit also saw River Valley Holdings chief executive Dr Smelly Dube being handed the Pan African Leadership and Enterprenueship Development Centre award for business excellency.