SA to Host Zimbabwean Summit to Spotlight Investment Opportunities

South Africa will play host to the 2024 Zimbabwe Investment Summit this week at the Radisson Hotel in Kempton Park, where prominent local and global economists, investors, government representatives, and academics will gather to discuss the country’s current economic climate and investment opportunities.

Themed “People you can invest in”, the summit will take place over two days from Thursday, 02 May to Friday, 03 May, aiming to highlight the country’s economic prospects, attract investments, and promote networking.

Zimbabwe has drawn increasing attention among international investors, as many of its industries have experienced considerable growth over the past few years. Tourism, mining, and agriculture in particular continue to demonstrate strong prospects, with the latter two having played a sizeable role in growing the country’s real GDP by 5.5% in 2023. Notably, the country boasts a rich store of platinum group metals (PGM), and the world’s second-largest deposit of high-grade chromium.

According to the United Nations Conference on Trade and Development’s (UNCTAD) latest World Investment Report, Zimbabwe’s foreign direct investment (FDI) has grown more than five times over the past two decades.

But this is only the beginning, notes Zunaid Moti, a prominent South African businessman and Chairman of African Chrome Fields (ACF). ACF is one of the largest investors in Zimbabwe, and sponsor for the event.

“Zimbabwe’s economy is ripe for growth and expansion, with a wealth of untapped potential and significant competitive advantages, including a rich commodities sector. Investors who enter now stand to benefit enormously over the next few decades,” he explains.

Driving Zimbabwe’s investment potential

ACF and Moti will be key figures at the summit, with Moti set to participate in a panel discussion exploring Zimbabwe’s current and future investment prospects. ACF’s will showcase the company’s operations, its innovations and advancements in the industry, and the various opportunities it’s creating in the area for other investors.

“Since entering the country, we have seen the value of our investment soar thanks to strategic collaborations and support from the public sector, as well as our strong relationships with the surrounding community. It’s clear that Zimbabwe is open for business, and that the country is at the beginnings of a phenomenal growth trajectory. As a result, there’s been a major uptick in interest recently from external markets and investors,” says Moti.

ACF’s six active wash plants currently produce an average of 850 tonnes of chrome concentrate every day with an exceptional high-quality grade of between 48% and 51%, with a total estimated production capacity of 24,000 tonnes per month. The company has invested in excess of R1.2 billion into Zimbabwe since its founding, including launching an R800 million cutting-edge beneficiation plant last year, and currently employs over 600 people throughout its operations.

Moti believes that ACF’s success in the country will motivate other investors present at the summit to invest in launching new ventures in Zimbabwe themselves.

Other panel discussions at the summit will also feature influential government and economic figures from both Zimbabwe and South Africa on the country’s mining, agriculture, agri-processing, manufacturing, infrastructure, automotive, information communication technology, and finance industries, as well as current opportunities.

“The summit will ultimately serve as a forum through which investors, entrepreneurs, various industry leaders and decision makers, and government representatives can come together to discuss the future of the country, share their insights, and hopefully initiate mutually beneficial partnerships.

“It makes good commercial sense to invest into a fast-developing country such as Zimbabwe, which is rich in mineral resources with substantial labour potential, but at the end of the day, it’s also about helping people and contributing towards African development,” Moti concludes.

On behalf of Zunaid Moti, Chairman of African Chrome Fields (ACF)
Distributed by Sasha-Lee Taylor / PR Worx

Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of One Africa News Today. This content is provided for informational and discussion purposes only and is not intended as an endorsement of any specific viewpoint.