Germans 'keen to invest in Zim, but want security and policy clarity', says envoy

2017-05-20 14:00


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Harare – Germany's ambassador to Zimbabwe has reportedly said that German businesses are playing a "wait-and-see game" before they can invest in the southern African country.

According to New, Thorsten Hutter said that Germans were keen to invest in Zimbabwe, but wanted assurances about the security of their investment as well as clarity on policy.

"One of the issues that has been raised by both Germany and Zimbabwean CEOs is that they want a reliable policy context; they want to know what the rules and regulations are between now and say for the next four years," Hutter was quoted as saying. 

Zimbabwe was trying to re-establish ties with the West, more than a decade after the EU imposed sanctions on President Robert Mugabe in protest against rights abuses and flawed democratic processes.  

Reports during the week indicated that Germany was demanding compensation for land seized from its citizens during Zimbabwe's controversial land reforms.

Hutter was quoted as saying that the issue of compensation was "an urgent and important" one as it was part of the re-engagement dialogue between the southern African country and the European Union. 

"We have a number of German nationals who invested here in Zimbabwe after independence who are not here anymore… I did not discuss the issue [compensation] with the Speaker of Parliament today but what I can say is that this issue is important," Hutter was quoted as saying. 

Mugabe and his ruling Zanu-PF party launched the land reforms in 2000, taking over white-owned farms to resettle landless blacks.

Reports in 2016 indicated that Zimbabwe had plans to compensate white farmers for their lost land and that the government had begun evaluating the properties.

Read more on:    zanu-pf  |  robert mugabe  |  germany  |  zimbabwe  |  southern africa

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