Foreign investor interest in Zimbabwe has picked up eturbonews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from eturbonews.com Daily Mail and Mail on Sunday newspapers.
DUMISANI NYONI
According to a Monetary Policy Statement released by Reserve Bank of Zimbabwe (RBZ) governor John Mangudya last week, foreign investment declined from US$53.47 million to US$40.06 million in 2020 while international and diaspora remittances increased by 57.6% to US$1.002 billion.
Loan proceeds registered 42.5% growth to US$845.21 million whereas income receipts and non-governmental organisations contributed US$56.85 million and US$647.75 million, respectively.
In total, foreign currency receipts for 2020 increased by 14.9% to US$6.288 billion.
Economic analysts attributed the decline in foreign investment to the outbreak of the Covid-19 pandemic which heightened the risks.
“The decline in foreign investment is because of the risks associated with the Covid-19. No one was actually going to be investing. But already the crisis before was associated with declining foreign direct investment (FDI),” economic analyst Godfrey Kanyenze said.
The Short, but Long History of Zida
January 6, 2021
Right at the end of last year, on December 17 to be precise, President Mnangagwa performed the final rite that completed the setting up of a fully-fledged Zimbabwe Investment and Development Agency (ZIDA).
He officially launched the agency in the presence of his two Vice Presidents Constantino Chiwenga and Kembo Mohadi and several Government and ZIDA officials.
It was a grand finale following months of several other steps in the build-up.
ZIDA effectively creates a One-Stop Investment Service Centre for investors, raising hope that those with capital will soon find it much easier to bring it for investment in Zimbabwe.
ZIDA: Conduit for free flow of investment, NDS1 success herald.co.zw - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from herald.co.zw Daily Mail and Mail on Sunday newspapers.