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Business Reporter

A delegation of German investors who have been exploring business opportunities in Zimbabwe since Monday has expressed optimism about the country as a potential investment destination.

Based on their engagements with various stakeholders, the delegation believes Zimbabwe is a promising destination for investment.

The visit to Zimbabwe followed recommendations from the Germany government and some business organisations based in the European country who have endorsed Zimbabwe as a good investment destination. The delegation consists of mining and agricultural experts.

“We are very happy with all the (engagements) we have (had) and we have (made) real progress in (our) consultations,” Prof Carsten Drebenstedt said in an interview on behalf of the delegation yesterday.

Other delegation members are Mr Henry Herold of Herold Consulting and Dr Steffen Kaubisch of Kunstoffetecnik Kichach.

Mr Herold

“In business, the most important thing is recommendation and we got recommendations from the Germany government and from some (business) chamber of commerce that Zimbabwe is a good target.

“Education (levels are) very high and from these recommendations, we say lets us start and up to now we have a good feeling that it was a right choice.” Zimbabwe has actively engaged with German businesses in recent years, participating in various international trade events.

Notable examples include the 2022 Africa and Trade Investment Conference organised by Afriks-Verein, a German business association, attended by Foreign Affairs and International Trade Minister Frederick Shava, the International Tourism Bourse in Berlin as well as the Fruit Logistica and Ambiente trade fairs. Prof Drebenstedt said his delegation was primarily interested in the agricultural sector, especially the production of crop nutrients derived from bio-gas, the mining sector and distressed companies.

He stressed that the delegation was exploring two potential areas of collaboration; agricultural production of compost from bio-gas and mining.

He also noted that there were potential areas of collaboration with the University of Zimbabwe in research and education, particularly in the field of mining.

Prof Drebenstedt expressed satisfaction with the professionalism displayed by various stakeholders throughout their engagements.

The delegation met with representatives from the Zimbabwe Investment and Development Agency (ZIDA), as well as the ministries of Lands, Agriculture, Fisheries, Water and Rural Development, and Mines and Mining Development. Late yesterday afternoon, they were scheduled to meet with the University of Zimbabwe.

Prof Drebenstedt emphasised the importance of a gradual approach, beginning with building trust through transparency and collaboration while stressing the need for reliable business partners.

“We want to go step by step; the first (being) to create trust…what we are doing and who we are and (then) have a partner Arufin Capital managing director, Mr Knowledge Hofisi said his organisation facilitated in bringing the delegation to Zimbabwe in response to the growing recognition of investment opportunities in Zimbabwe.

“There is some growing realisation that there are investment opportunities in the country so we are trying to identify investors exploring investment opportunities; so we have managed to identify the German investors Mr Hofisi said the investment mission was a work in progress and part of a broader effort by the Government to re-engage with the international community.

“One thing that we need to appreciate is that this is work in progress,” he said.

Zimbabwe’s re-engagement efforts continue, with the goal of attracting foreign investment, improving economic growth, and enhancing its international standing.