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General Electric on scouting expedition in Zim

Feb 13 2018 22:00
By Crecey Kuyedzwa

Harare - General Electric South Africa representatives are currently in Zimbabwe to explore investment opportunities following the country's declaration that it is open for business.

The country is currently experiencing an investor rush as business people across the globe jostle for opportunities.

This follows calls by new President Emmerson Mnangagwa that his country is now open for business and will also not tolerate corruption, which has been an impediment to foreign direct investment and development. 

General Electric South Africa (GESA) is the latest company to seek for opportunities in Zimbabwe, with General Electric Africa director project development and investments Reginold Max appearing before Zimbabwe's Parliamentary Portfolio Committee on Mines and Energy on Monday morning.

The GESA team, which also includes risk leader global growth and operations Todd Johnson, expressed interest in the Batoka Hydro Power plant project.

The power generating project will be located near Victoria Falls along the Zambezi River, hundreds of kilometres upstream the Kariba Dam hydropower plant and will generate 2 400 megawatts to be equally split between Zimbabwe and Zambia. Surplus power will be sold to the region.

The GESA representatives said their company is involved in the supply of 73% of power generation in Africa.

Zimbabwe has of late been attracting investors, with Russian billionaire Dmitry Mazepin visiting the country last week and expressing his interests in fertiliser manufacturing.

Mazepin, whose net worth is said to be around $8bn, is the owner of Russia’s largest fertiliser manufacturer, Uralchem. 

Zimbabwean media reported that Africa's richest man, Aliko Dangote, has revived his interest in a cement plant with officials from his company currently in Zimbabwe to spearhead his interests.

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