WATCH: US investors 'showing interest in Zimbabwe', says finance minister

2018-09-25 11:18
Zimbabwean Finance Minister Mthuli Ncube (File: AFP)

Zimbabwean Finance Minister Mthuli Ncube (File: AFP)

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Zimbabwe's finance minister Mthuli Ncube has reportedly said that American investors are showing interest in the southern African country, following a meeting with them in New York.

According to Daily News, Zimbabwean officials met with at least 100 international investors and institutions on the sidelines of the ongoing United Nations General Assembly in the Big Apple.

The meeting, which included the Bank of America, Morgan Stanley, Merill Lynch, JP Morgan at the Zimbabwe Investor Forum, was led by President Emmerson Mnangagwa, the report said.

"At the oversubscribed Zimbabwe investor forum, over 100 American investors, including Morgan Stanley, Bank of America, Merill Lynch, JP Morgan showed interest in bringing capital to the newly-reformed Zimbabwe," Ncube was quoted as saying.

Watch Mthuli Ncube as he makes his presentation to the investors below

Ncube said that Mnangagwa reassured the investors that their investment was going to be safe, as the country was undergoing reforms under his administration.

The investment would likely help unlock much needed cash for the southern African country which must clear $1.8bn arrears with the World Bank, and the African Development Bank.

The European Union and the United States imposed sanctions against Zimbabwe in 2000, after they accused ex-president Robert Mugabe of trampling on human rights, rigging elections and repression of press freedom - accusations that the nonagenarian denied. 

The sanctions led to devastating economic challenges, with the country reportedly now sitting with about 85% unemployment.

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Read more on:    emmerson mnangagwa  |  mthuli ncube  |  zimbabwe  |  southern africa

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