Zim a ‘poor investment’ destination

In an address that shocked local investors at a seminar last week, Mutambara said: “The international community thinks our government is not stable . I am guilty because I am among those who are giving the country a bad name due to my differences with the Prof (Welshman Ncube).”

Mutambara is a tug of war with Ncube over the deputy prime ministers post, with the latter saying the former must vacate the post after he lost the presidency of the smaller MDC formation. Mutambara was deposed as party president by Ncube at a congress last month and a subsequent top-level meeting of the MDC faction recalled the deputy prime minister and redeployed him to a lesser ministerial post.

But Mutambara headhunted by Ncube to lead the MDC faction — on Monday vowed not to relinquish his position in government, arguing that there was no law providing for a principal in the unity government to be recalled by his party. The DPM said Zimbabwe’s policies were also very unpredictable and prone to being changed at short or no notice, a situation he said only helped to shoo away investors who prefer countries with more stable policy regimes.

“Let us be very clear and send clear signals about our investment opportunities,” Mutambara said. “Our infrastructure is also very poor, our government is viewed as unsteady and unstable and there is too much bureaucracy in government. This needs to change quickly if we are to move on and get back on track.

Mutambara also said elections were likely to be held later this year, adding that he hoped they would be free and fair to return the economy to the days of glory during the 1980s.