Economy

UAE to play a lead role in investing in Zimbabwe

Bloomberg/Waldo Swiegers

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The UAE is already one of Zimbabwe’s leading trading partner, having registered a trade surplus of $307.6 million with the Emirates in 2017.

Sunday 18, August 2019 BY MUZORIWA KUDAKWASHE

The UAE Ambassador to Zimbabwe, Mahash Saeed Salem Mahash Al Hameli, said that his country will play a leading role in investing in the Sub Saharan African nation as part of the Emirates’ Africa investment strategy.

The former breadbasket of Africa recently invited UAE companies to invest in sectors such as mining, information and communications technology as well as agriculture, renewable energy technologies and infrastructure development.

The investment is also expected to enable the country to reach its goal of providing universal health coverage by 2030, as promised by the Zimbabwean President Emmerson Mnangagwa’s administration, and it will also assist Zimbabwe to fulfil an ongoing mission to return the former breadbasket of Africa to prosperity.

The UAE intends to establish a local pharmaceutical plant in Zimbabwe which will help improve the delivery of medicines and medical supplies over the long term. 

“Our commitment to Zimbabwean investment is long-term, not only in the provision of aid, but in supporting the Zimbabwean economy, investing in trade opportunities, and working alongside Zimbabwean leadership to empower its communities,” said Al Hameli.

Zimbabwe’s exports to the UAE have previously been underpinned by mineral resources such as gold and diamonds. The Southern Africa nation is reported to have more than 13 million tonnes of gold reserves, one of the largest reserves of diamonds in the world and the world’s second-largest reserve of platinum, along with other mineral resources.

TAGS : Mahash Saeed Salem Mahash Al Hameli, information and communications technology, renewable energy technologies, foreign investment , President Emmerson Mnangagwa

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