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Mthuli Ncube goes on investment roadshow

by Staff reporter
16 May 2021 at 09:44hrs | Views
FINANCE and Economic Development Minister Professor Mthuli Ncube is preparing to take his global investment roadshow to Western capitals in a drive geared to publicise investment opportunities in the country and raise funding for local companies.

Prof Ncube, who was in Cape Town, South Africa on a similar mission a fortnight ago, told The Sunday Mail that the tour was in line with the National Development Strategy (NDS1 2021-2025) which places investment promotion at the centre of the country's development agenda.

"I embarked on a global roadshow to Cape Town a few weeks ago and investors were very enthusiastic about it and I will be doing the same thing on a roadshow to London, Paris, Frankfurt, New York, Tokyo, and Beijing in the Far East," he said.

"So this is a journey we will embark on to raise awareness about the opportunities in Zimbabwe."

Ministry of Finance chief director of communication Mr Clive Mphambela said consultations with the host nations were underway.

"We are ready, but the actual date will be determined by the Covid-19 situation in host countries," said Mr Mphambela.

"To cut costs we will have an itinerary which will cover a number of countries all at once rather than flying in and out of the country.

"So we are having consultations with these countries and we expect to begin soon."

Prof Ncube said the tour would also help raise awareness about the Victoria Falls Stock Exchange.

He said several mining companies are expected to list on the VFX soon.

"There is one company in the mining sector that wishes to list anytime from now as well as others in other sectors that have shown genuine interest," Prof Ncube said.

"So, we expect more companies coming on board. We really want to urge companies that are export-oriented to take advantage of the platform and list on the exchange or register on the Offshore Financial Centre.

"They will find that there are enormous benefits in doing that in the way they do business, in the way they can be able to raise capital globally. This is a Pan African Regional Forum for companies that truly wish to go international, that wish to go global."

In a recent statement, Prof Ncube said Government had put in place export and investment incentives to promote economic growth through driving exports growth.

"In order to encourage gold production and deliveries to Fidelity Printers and Refiners (FPR), gold producers who deliver gold quantities above their average monthly deliveries shall be entitled to a retention level of 80 percent on the incremental portion of the gold delivered to FPR," he said.

"Those companies listed on the Victoria Falls Stock Exchange will be entitled to a 100 percent retention level of their incremental exports."

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Source - sundaymail

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