A delegation of members of the Global Opportunity Committee
of the Atlanta Black Chambers (ABC), is in the country for a week on a visit
which seeks to foster trade, investment, economic and cultural exchange between
Zimbabwe and the United States.
The ABC team, which is comprised of investors and experts
in fields that include agriculture, real estate, manufacturing, mining and
biotechnology, is part of a broader mission that includes visits to South
Africa and Zambia.
Several memorandums of understanding between ABC and
Zimbabwe companies and business associations, are expected to be signed during
the mission.
Speaking at a press conference in Harare yesterday,
chairman of the Global Opportunity Committee Mr Ricardo Berris, said their
major goal was to build relationships and to do business in Zimbabwe.
“Please understand that as we meet you throughout the next
few days, we want you to ensure that as we go back, we are going back with a
story, with a message to tell to our members that Zimbabwe is open for
business. That the new Zimbabwe is ready to receive their business. And this is
something that we are just getting started with.
“It is amazing what you have here in this country and I
hope you see the value in that because we also see that value and that is the
big part of the reason we are here.”
He said the ABC had a vision to generate US$100 billion in
transactions for its members and Zimbabwean businesses could also benefit from
this trade opportunity.
International trade expert Ms Shaquana Teasley, who is also
part of the American delegation, said it was important for the business that
would be generated during the visit to be mutually beneficial for both the
American and Zimbabwean businesses.
“We can come to Zimbabwe and we can make good relationships
but what we want to see is business that is successful and this happens through
positive trade initiatives. It is important to have a trade expert to make sure
that both parties are getting the true benefit of import and export so that we
can see the growth and development for our chamber and the mutual relationships
that we are building throughout Zimbabwe,” she said.
Ms Teasley expressed hope that the subsequent partnerships
would not be hindered by bureaucracy and red tape.
The engagements between the ABC and CEO Africa Roundtable,
who are cohosting the mission with the Zimbabwe Investment and Development
Agency and the Confederation of Zimbabwe Industries, was facilitated by the
Zimbabwe Embassy in the US when staff visited Atlanta in May last year.
Besides putting into action President Mnangagwa’s mantra
that Zimbabwe is “Open for Business”, the mission will also leverage on ABC’s
experience to change the narrative about Zimbabwe as an investment destination
for American businesses.
Zimbabwean Ambassador to the US Tadeous Chifamba said this
engagement was part of Government’s engagement with the diaspora community
initiative.
“Our message was that Zimbabwe’s future is not dependent on
aid but on mutually beneficial partnerships and we highlighted the many
investment opportunities that Zimbabwe has to offer. Beyond our natural
resources, our flora and fauna and our human capital is among the best and it
is highly adaptive and efficient.
“It is important that as you are here, you begin to
appreciate the difference between what you hear on cable news and the actual
reality of Zimbabwe. We have been receiving very hostile press for a long time
and this opportunity, I , will create a new understanding, a new perception of
Zimbabwe which I hope you will be able to share with the global membership of
the Chamber,” he said.
CEO Africa Roundtable chairman Mr Oswel Binha said the ABC
mission aligned perfectly with CEO Africa Roundtable’s commitment to fostering
collaboration and driving sustainable economic growth and development in
Africa.
“The visit by the Atlanta Black Chambers serves as a
testament to the growing interest in Zimbabwe’s business landscape and the
recognition of its potential as a vibrant market for international cooperation.
Thus, this serves as an opportunity to improve on the current low volumes of
trade in goods, which have failed to reach US$1 billion for the past 5 years,
between the US and Zimbabwe,” he said.
“We believe that initiatives like this play a crucial role
in promoting inclusivity, diversity, and economic empowerment. By connecting
African diaspora communities with their countries of origin, we can leverage
their expertise, resources, and networks to drive sustainable development and
create shared prosperity.”
He commended Government for its role in facilitating the
visit by the American mission, which he said was the beginning of a fruitful
and enduring relationship between Atlanta and Zimbabwe.
The ABC delegation is also accompanied by the Investments
in Manufacturing Production and Infrastructure (IMPI Inc) consortium of
Zimbabwe scientists who are seeking to construct a biotechnology city in
Zimbabwe
The IMPI group met President Mnangagwa on the sidelines of
the 78th United National General Assembly in New York in September last year,
and he assured them of full Government support.
Since then, the group has been successfully registered in
Zimbabwe as IMPI Biotechnology Consortium (Pvt) Ltd and applied for an
investment licence, which is currently being processed by ZIDA. They are also
looking towards the finalisation of the land offer, signalling the start of the
project.
IMPI Inc has also identified the nucleus companies based in
the US ready to set up subsidiaries in the Biotechnology City under the first
phase of the project which will have an investment of about U$100 million.
IMPI board chairman Dr Tawanda Gumbo said: “We are actually
raising about US$70 million to put into that city. We would love for most of
that investment to be from black people. As we learnt during the Covid-19
pandemic, those who control medications, control life, and it is a life and
death situation but it is also an incredible economic opportunity and an
incredible way to think of black people at large the whole world in control of
one of the major sectors of wealth in the future,” he said.
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