Foreigners Shun Zimbabwe Mine Entra

The Law forces foreign-owned companies to cede 51 percent shareholding to locals among other things.

“Germany companies through the German Chamber of Commerce and Industry had indicated their desire to explore mining opportunities at this year’s exhibition but they cancelled bookings last week. Most of the companies have indicated that they will only exhibit when they are satisfied that their investments will be safe in the country “said a Zimbabwe Chamber of Mines source.

According to a survey carried out by Radio VOP news crew at the Zimbabwe International Trade Fair Grounds (ZITF) where the show is being held, only six out of the expected 10 direct  and 15 indirect foreign exhibitors were participating at this year ‘s event, which will be officially opened by Mines and Mining Development Minister  Obert Mpofu.

The premier mining show case will run for three days under the theme: “Exploring Our Hidden Depths“.

Some of the foreign companies, mainly from South Africa, which are exhibiting include Ritz pumps and LVSA.

Most of the exhibition space in hall four, the venue of the exhibition has been taken up mainly by small scale miners and safety and footwear manufacturers and suppliers.

ZITF company chairman Bhekimpilo Nkomo refused to comment on the low turnout at this year’s specialised exhibition.