Zim economy 'offers many opportunities'

2011-08-28 10:11

Johannesburg - The remarkable recovery of the Zimbabwean economy offers many opportunities, says Imara, a company specialising in investments in South Africa's neighbouring countries.

This has been confirmed by some South African companies operating in that country.

The recovery has taken place since the country's February 2009 acceptance of the American dollar as currency.

At Victoria Falls tourism group Tourvest recently opened a new lodge, which is fully booked up to November, said executive director Khehla Mthembu. “Zimbabwe has been good to us in recent months.”

The group is currently on the lookout for opportunities in the environs of the Hwange National Park, which is about two hours’ drive from Victoria Falls.

Pretoria Portland Cement [JSE:PPC] chief executive Paul Stuiver said cement sales had been particularly poor two years ago, but had improved to such a degree that the group cannot keep ahead of production in Zimbabwe.

Construction group Group Five recently entered into a R1.4bn partnership with the Zimbabwean National Roads Agency for the planning, design and construction of the first phase of a new road network for the country. Funding is being supplied by the Development Bank of South Africa (DBSA).

From the network’s completion early next year until 2031 the group's toll operator, Intertoll, will operate toll roads on the roads stretching from Plumtree to Harare and from Harare to Mutare (780km in all).

The fact that the DBSA is funding the project limits the risk, says Group Five.