Zimbabwe eyes global capital markets to grow economy

Zimbabwe, which has been starved of loans from major international lenders for years, is seeking to tap into the global capital markets to mobilize private capital to grow the economy.

Zimbabwean Finance Minister Mthuli Ncube is currently attending a two-day Zimbabwe capital markets conference in London, the United Kingdom, to woo capital from both foreign investors and Zimbabweans in the diaspora.

Addressing a virtual press conference from London on Friday, Ncube said Zimbabwe is showcasing its investment potential with a view to attracting private capital to develop the economy.

Participants from Zimbabwe at the conference are drawn from the Ministry of Finance and Economic Development, the Reserve Bank of Zimbabwe, the Victoria Falls Stock Exchange (VFEX), the Securities and Exchange Commission of Zimbabwe, the Insurance and Pensions Commission of Zimbabwe, and the Zimbabwe Investment and Development Agency, among others.

Several Zimbabwean companies, including those listed on the U.S. dollar-denominated VFEX, also attended the capital conference.

Ncube said the presentations done by companies from the VFEX were well received by the investors, and the response overall was overwhelming.

“We are going to continue today (Friday) with our presentations to investors looking deeper into the investment climate and policy environment, and we will also engage our diaspora who are out here and also wish to invest back home,” Ncube said.

He said the Zimbabwean government should hold regular road shows and conferences to promote investments in the country’s capital markets. Enditem