African-American Investors Target Zimbabwe for Business Expansion

Zimbabwe may soon experience an economic boost as a collective of African-American investors have expressed interest in infusing over US$500 million into its economy. These businesses, spanning various sectors, are poised to explore the commercial prospects within the nation.

American Delegation in Zimbabwe

A team from the Atlanta Black Chambers' Global Opportunity Committee is currently on a week-long visit to Zimbabwe. The objective is to enhance trade, investment, and cultural ties between Zimbabwe and the United States. This group is not only looking at Zimbabwe but has also included South Africa and Zambia as part of their broader exploratory mission.

Prospective Partnerships and MoUs

Diverse sectors like agriculture, real estate, manufacturing, mining, and biotechnology will likely be affected by these potential investments. Anticipation is high for the signing of several MoUs between the visiting delegation and local Zimbabwean companies and business associations.

Promoting Economic Ties

Ricardo Berris, the chairman of the aforementioned committee, highlighted the group's intent to establish relationships and successful businesses in Zimbabwe. His sentiments were echoed by Shaquana Teasley, an international trade expert, who emphasized the importance of ensuring that the impending ventures would profit both American and Zimbabwean businesses.

The ambassador of Zimbabwe to the U.S., Tadeous Chifamba, conveyed an optimistic view of the initiative, expecting it to amend the often unfavorable perception of Zimbabwe held by the global business community. This could be a stark contrast to what's often reported on international media outlets.

Local Support and Strategic Initiatives

The CEO Africa Roundtable has also welcomed the visit, aligning it with its goals of nurturing collaboration and propelling economic growth. This mission also dovetails with Zimbabwe's 'Open for Business' policy, which seeks to draw in international investment.

Moreover, the ABC delegation is accompanied by the IMPI Inc consortium, with plans to build a biotechnological hub in Zimbabwe, which might see an initial investment of up to US$100 million. This is part of a strategic initiative to position Zimbabwe - and by extension, the global African diaspora - as key players in crucial economic sectors.

investment, Zimbabwe, economy