Investors heed ‘Zimbabwe is open for business’ mantra

By Calvin Manika

A Zimbabwean international organisation, Africa Grain and Seed (AGS) with investments in food security worldwide is seeking to grow the Zimbabwean economy by bringing agricultural investors into the country. Working through collaborations and international partnerships can turn around the economy of Zimbabwe. This was said by the President and Founder of Africa Grain and Seed (AGS) Mr. Anthony Denga last week at a Thought Leaders Round Table meeting at Meikles Hotel in Harare where they were hosted.

Speaking at the round table Thought Leaders Investment Conversation which ran from 10-11 February, Mrs. Zandile Matiwaza-Denga (Vice -President and Co-Founder) noted the importance of investing in Zimbabwe and bringing potential investors to have a feel of the environment and meeting key government stakeholders.

“As an extension of our conversation, we have taken key steps of bringing our investors into Zimbabwe. This round table Thought Leaders Investment Conversation is a pre-cursor to the investment portfolio targeted at Zimbabwe, the strategy aims to realise and refine narratives around security and investment in Zimbabwe,” said Matiwaza-Denga.

Zimbabwe investments are coordinated through the Zimbabwe Investment Development Agency (ZIDA). The agency is an investment agency responsible for promoting and facilitation of both local and foreign investment in the country.

While briefing the roundtable conservation ZIDA representative said ZIDA came up as an integration of three investment authorities, which were previously housed in different Government Ministries and Departments.

“The promulgation of the ZIDA Act, which repealed the Zimbabwe Investment Authority, the Zimbabwe Special Economic Zones Authority, and the Joint Ventures Act, provides a clear, comprehensive, and binding legal and regulatory framework for conducting investment activities, by both domestic and foreign investors in the country. ZIDA operates a One-Stop Investment Services Centre (OSISC), which provides investment services ranging from investment analysis, company registration, tax registration, and clearance, licensing, connecting to all necessary utilities, investment promotions, public relations, and aftercare services,” explained the ZIDA official.

The investors and Africa Grain and Seed (AGS) partners who have shown commitment to investing in Zimbabwe have interests in the critical sectors of the economy which include among others agriculture – seed and cannabis, banking, trade and industry which include investing in a wheat facility, fishery, moringa manufacturing and technology. The investments will drive gender inclusion and community upliftment.

The round table conservation was attended by AGS key partners including prominent investors, Dr. Lennox Xolile Mtshagi (President of Black Farmers Association of South Africa), Dr. Chris Cleverly – via zoom (CEO Kampay & President of Tingo), Mr. Allan Marais (Managing director of Pathfinder Projects Africa (PTY) Ltd), Mr. Dakshesh Patel – via zoom (Founder and CEO of Zympay & Tingo Group Chief Financial Officer), Chantel Oppelt (Executive director of the Institute for Applied Alchemy), Mrs. Shirneal Damons (Executive Director of Feel to Heal) and Mr. Rohan Persadh (Managing Director of Three-D Agencies). Also represented was Humble Smiles (Pvt) (Ltd).

Zimbabwe’s foreign policy in the Second Republic has shifted from focusing on the political towards the economic. It has been designed to aid economic recovery, facilitate economic growth, create employment and encourage a climate conducive for attracting investors to the country. The foreign policy in Zimbabwe also identifies the patterns of change and continuity over both space and time analysing Zimbabwe’s relations with Africa. It is also mindful of the need for new alliances and investment partners as well as the necessity to reintegrate into global society.

Many committed investors are coming to Zimbabwe as they seek to do business and grow the economy both of Zimbabwe and back in their homes. The Institute for Applied Alchemy, Kampay, BFASA, Zympay, Stellenbosch University, Pathfinder Projects Africa (PTY) has heeded the call from its strategic partner Africa Grain and Seed. All the organisations have been highly successful at showcasing and encapsulating the essence of what is required, at a business level, to create systemic and meaningful change towards the Pan African vision of growth and sustainability. Their strategic alignment directly addresses the barriers, to access and the exploitation that have been imposed onto Africa. Their partnership plays a pivotal role in articulating the problems of poverty alleviation, human progression, growth opportunities in macro-micro economics, and social policy.

Africa Grain and Seed Vice President said as AGS they heeded a call by President Emmerson Mnangagwa so they wanted the roundtable discussion to give investors confidence in the conducive climate that Zimbabwe is open for business towards its economic recovery, facilitates economic growth, upskilling, and creating employment.

“Our foreign investors would like to reiterate that not all African leadership purports to the dichotomous and normative narratives assigned to African countries like Zimbabwe in the form of trade. That as Africans we are faced with an opportune time to engage in enabling national conversations pertaining to investment security, product to market expansion, gender inclusion, and strategic partnerships,” said Matiwaza – Denga

“Realizing the pan African vision relies on both implicit and explicit tools and structures that exist within Africa. Structures such as these play a critical role in enabling Africans to organize and re-establish a global identity that reaffirms their humanity and socio-economic position in the global arena. Establishing such economic performance, inclusivity and structural transformation must have strong economic growth through well-executed investment security strategies, product-to-market expansion, and partnerships,” Mr. Owen Sher CEO of Goldstone & Co told this publication.

One of the AGS partners, Kampay’s mission is to democratise opportunity giving everyone a fair chance by reducing the legacy barriers to entry that exist between us and the successes experienced in the rest of the world.

Kampay Chief Executive Officer and Group President of Tingo Dr. Chris Cleverly said that is why Africa must embrace this as its chance to level up with the other continents and even exceed them in this new millennium.

“We do this through blockchain. Blockchain does not discriminate. Smart contracts are digits and smart contacts. The ledger does not care about race, sex, or religion. And so, it distributes fortune without prejudice. Since it is decentralised, it does not seek control but only sustainable growth.”

“KamPay is right now working with top collaborators to create microloans for farmers in Africa. Until recently, there was no safe way to finance agriculture in Africa because of corruptness and limitation of the technology. This caused a major increase in interest rates and today the common rate for a 4-month loan for farmers is 30-40% only for these 4 months! Today, through our partners African Grain and Seed, KamPay will be able to bring the financing opportunity to farmers in Zimbabwe. We are here for the long term with solutions that change lives today,” said Cleverly.

Speaking to Spiked Online Media on the sidelines of the Thought leaders forum, the Executive Director of the Institute for Applied Alchemy (IAA) Chantel Oppelt said as an institute they have interests in agriculture and the growth of the African economy.

“In Africa, there is a willingness by people to work and cooperate. We are here in Zimbabwe to see how best we can invest, at the same time help people like women. We can’t say out the exact worth of our investments but we want to engage our business partners in as many sectors as we can,” said Oppelt.