Swiss billionaire and owner of Dolder Grand Hotel in
Zurich, Mr URs Ernst Schwarzenbach, has expressed interest in investing in
Zimbabwe, in a development that could bring an ultra-luxury, 7- Star hotel
here.
Mr Schwarzenbach made public his interest during the
Zimbabwe Investment Forum (ZIF) he hosted at his hotel in Switzerland last week
attended by Zimbabwean officials and businesspeople as part of the engagements
around the World Economic Forum (WEF), the annual business pilgrimage in Davos.
The ZIF fixture was also attended by over 80 investors,
private wealth management advisory firms that serve ultra-high-net-worth
investors also known as family offices, Swiss corporations, commodity
brokerages, investment banks, pharmaceutical companies, construction and
property firms, among others.
Harare commercial lawyer Mr Edwin Manikai, who was in
Switzerland, told The Herald yesterday that although the deal was still in its
initial stages, it had prospects of success.
He also outlined the massive prospects for Zimbabwe set to
be unlocked via Zimbabwe’s “open for business” approach.
This year’s engagements built on President Mnangagwa’s
appearance at Davos last year. And the grand hotel could be one of the early
fruits to pick from the engagements.
Mr Manikai said the billionaire brought with him four
business colleagues to meet the forum.
“We are working on the preliminary aspects for such
investment, ahead of detailed feasibility, leading to the more technical
aspects of investment of such magnitude and paperwork. Although the deal is
still in the initial stages, the investor shows much capacity and interest. My
estimation is that the family offices at the Zurich Forum represented over $20
billion worth,” said Mr Manikai.
He was among Zimbabwean businesspeople who travelled to
Davos for the WEF.
“Last year President Mnangagwa wowed the World Economic
Forum, and left an indelible mark on the event, on the International Monetary
Fund.
“This year the meeting was more business oriented and the
Minister of Finance and Economic Development Professor Mthuli Ncube was the
leader of team Zimbabwe and supported by a strong business team comprised of
Messrs Herbert Nkala, Gift Simwaka Edwin Manikai, Glynn Cohen and Credit Suisse
Derivatives managing director, Ross Mtangi. Ms Natalie Jabangwe and Mr Tatenda
Mutizwa, Mr Temba Mliswa, Mr Chido Munyati and McKenzie Institute president, Mr
James Manyika, who gave valuable insights into the agenda,” he said.
Mr Manikai said Zimbabwe got the support of South African
president, Cyril Ramaphosa and his Minister of Finance Tito Mboweni on the
removal of sanctions and possible financial package.
Meanwhile, Mr Manikai, who is part of the Presidential
Advisory Council (PAC) announced by President Mnangagwa this week, said the
idea of a PAC embodied global best practice.
“Most successful economies have adopted this model and
structure to harness some of the talent and resources not tapped through the
public sector. The PAC enhances the interface between Government and the
private sector, the engine room for economic growth and well-being.
“The economic theme of the Second Republic can only succeed
based on a partnership between Government and business, and this platform is an
obvious springboard,” he said.
Mr Manikai said there was need for transparency when
conducting business.
“All transactions of whatever nature and size, must go
through the basic verification processes and transaction flow. We should know
that investors are looking for a return, and learn to leave value for everyone
on the table and in a legitimate way.
“We should reduce the cost of doing business and cut out
corruption. Corruption, currency and certainty are the evils undoing business
in Africa. The PAC will assist us verify big deals, and to ensure that there is
integrity in all deals Zimbabwe,” he said.
Please note that in our edition yesterday, we erroneously
published a picture of Mr Herbert Nkala captioned Mr Edwin Manikai. The error
is sincerely regretted. Herald
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