Zim-SA to Hold Trade Investment Seminar

The trade and investment seminar seeks co-operation between the two countries which trade anything from heavy industry equipment to agricultural products. South Africa is Zimbabwe’s biggest trading partner in the world.

Two seminars will be held in Harare and Bulawayo respectively. On March 26 the investment seminar will be held at the Rainbow Towers while on March 29 Holiday Inn will host another seminar.

“The renewed partnership between South Africa and Zimbabwe encourages South African and Zimbabwean companies to deepen trade and investment relations,” a notice to the media from the South African embassy read.

“The Investment and Trade Initiative to Zimbabwe will showcase a range of companies boasting international expertise in sectors such as infrastructure, information and communication technology, manufacturing, agro-processing and mining metals, as areas for co-operation.”

Zimbabwe has been the net importer of South African products over the years after its industries collapsed due to the economic meltdown. Investors have been shunning investing in Zimbabwe because of the indigenisation policy to take over 51 percent of shares in all foreign firms to give to locals.

The trade and investment seminars in the country is likely to dwell on the controversial indigenisation and economic empowerment drive in the country which compels all foreign companies to only hold 49 percent maximum number of shares in any company in Zimbabwe.