Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Outrage over Zim's 1st draft constitution

Zimbabwe's first draft constitution has sparked outrage with legal experts equating it to an orchestrated attack on the country's moral, cultural and revolutionary pillars, a report says.

Cape Town

Sunday 15-23°C

Mostly sunny. Cool.

7 day forecast

Monday	16-22°c	Sunny. Cool.
Tuesday	17-22°c	More sun than clouds. Cool.
Wednesday	17-23°c	Sunny. Cool.
Thursday	17-23°c	Sunny. Mild.
Friday	18-24°c	Sunny. Mild.
Saturday	19-26°c	Sunny. Mild.

More weather from Weather24 >

Brought to
you by:

Zim rivals in investor appeal

2010-05-06 14:47

Special Report

Typhoid shuts Zimbabwe courts

Zimbabwe has shut down the capital's main courthouse after a suspected outbreak of typhoid affected magistrates and court officials.

War vets battle dispair

A dusty road leads to the village of Wedza, where veterans of Zimbabwe's liberation war eke out a meagre living on their farm cooperative, which after a promising start now brings only despair.

Dar es Salaam - Zimbabwe's President Robert Mugabe made a surprise showing at Africa's biggest business meeting on Thursday to appeal for investment alongside other members of the fractious coalition government.

Mugabe dismissed investor worries over new ownership laws which are designed to ensure that black Zimbabweans hold a stake of at least 51% in all companies and which have strained the unity government.

"People have said it will drive away investment. We say it won't," Mugabe said at the World Economic Forum for Africa.

"Companies have been forthcoming ... I don't think it's a painful thing for them. Forty-nine percent is a lot," he told reporters.

Mugabe took the stage at the World Economic Forum for Africa with Prime Minister Morgan Tsvangirai, an old rival who joined him in a unity government last year, and Arthur Mutambara, the third member of the coalition.

Zimbabwe's economy grew last year for the first time in a decade after the scrapping of a near worthless local currency and the political agreement.

In Harare, Zimbabwe's Industry and Commerce Minister Welshman Ncube told Reuters in an interview Mugabe had rejected bids by foreign steel firms wanting to take over the country's grounded state-owned steelmaker because they were "too big".

No major inflow of foreign investment

Ncube said Mugabe preferred to deal with medium-sized firms.

Western countries are withholding aid to push for faster political reform and there has been no major inflow of foreign investment because of the continuing uncertainty over the government and its policies.

"Zimbabwe is ready to do business. If Africa's time has come for investment, then Zimbabwe cannot miss the boat," Tsvangirai said at the meeting, which has highlighted Africa's relatively rapid emergence from the global downturn.

"The political crisis does no longer exist. The country is making progress and it's time that investors started looking at Zimbabwe from a different perspective. So that is the message we have been communicating."

Tsvangirai stressed that discussion was continuing on the empowerment law and its application.

Both Mugabe and Tsvangirai reiterated appeals for an end to Western sanctions targeting the 86-year-old leader and his closest aides. He has ruled since independence in 1980 and is accused by critics of ruining the country.

"It doesn't make sense that people from the same government are not able to travel because of the travel ban," Tsvangirai said.

- Reuters

Read more on: morgan tsvangirai | robert mugabe | zimbabwe | southern africa

inside news24

Racy in red

Audi's new flagship - the TT RS plus - has been boosted to 265kW.
Parliament Fashion 2012

We look at our MPs style choices & lament some really bad choices.
Quiz: Country pet names

See if you can match the country to its nickname.
10 modern miracles

Can you imagine your life without any of these 10 things?
Reaction to Zuma's speech

Watch politicians mixed reactions to the State of the Nation address.
Two worlds

Opel has two major models up its sleeve for March's Geneva show.
Valentine's specials

The top restaurants are pulling out all the stops this year!
2012 Grammy picks

Who's going to walk a away with a Grammy?

Hello

Create Profile

Please provide a username for your profile page:

Hello

Choose a display name:

Edit your avatar:

Tell us a bit about yourself:

Saving your profile

Settings

Saving your settings

Facebook Sign-In

Sunday 15-23°C

Zim rivals in investor appeal

Special Report

Other Stories in Zimbabwe...

inside news24

Welcome to News24

News in your area

Latest comment in Africa

Travel - Look, Book, Go!

Kalahari.com - shop online today

Sponsored links

Egreat R6B Full HD Media Player

I'm shopping for:

featuredprofile

featuredgallery

featuredvideo

services