Is Nelson Chamisa Right on Chinese Vs Zim Investors?
11 June 2018
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MDC T leader Nelson Chamisa has said the current Chinese business delegation visiting Zimbabwe to explore business opportunities is a venture that could be equally be exploited by young Zimbabwean entrepreneurs if given access to capital. Is Chamisa right? Can Zimbabwe young entrepreneurs deliver major projects. Should we trust the likes of Wicknell Chivayo to deliver multi million dollar projects.

Chamisa statement comes as president Mnangagwa this morning met with 60 Chinese business people visiting Zimbabwe to explore investment opportunities and to attend the China-Zimbabwe business forum.

Posting on twitter Chamisa said: ‘If our entrepreneurs had access to capital they would be exploiting these opportunities. For banks to thrive and lend to our young people we need a credible and predictable monetary policy.’

Zimbabwe has relied on China through its difficult years under western sanctions, and in the process signing a number of mega deals: The expansion of Victoria Falls Airport, which recently opened, was the recipient of a $150 million Chinese loan, as was Harare’s $144 million rehabilitation of its municipal water supply and sewage treatment, along with the $319.5 million expansion of Kariba’s hydropower plant. The state-owned fixed line telecommunications firm TelOne also recently received a loan of $98 million to improve its fibre optic network.

There are many more deals waiting for financing. In 2012 the government announced that China Railway would invest $1.2 billion to develop a high-speed train route between Harare and Bulawayo. The National Matabeleland Zambezi Water Supply Project requires a $1.2 billion loan and along with the $1.3 billion expansion of the Beitbridge-Chirundu Highway is also waiting for confirmation of financing. Additionally, China Africa Sunlight Energy Limited has said that it plans to invest $2.1 billion developing coal mines and building two 100-megawatt coal fired plants, although work is yet to begin.

-additional businessreport