Zim entrepreneurs urged to invest in Angola

Zimbabwean businesses should take advantage of the intra African trade partnerships to boost the performance of their companies and national economies economy, says former Reserve Bank of Zimbabwe (RBZ) Governor, Kombo Moyana.

He encouraged local enterprises to invest in Angola, which he said presented many oportunities, during a breakfast meeting organised by the Zimbabwe Angola Business Association (ZABA) in Harare on Wednesday.

Said Moyana: “If we can only learn the Angolan language (Portuguese), there are a lot of areas where we can capitalise on the country’s vibrant economy because they need the skills that Zimbabweans possess.”

“We need to go beyond the borders and capitalise on trade investment opportunities that exists in the continent,” he added.

Zimbabwe is part of the Southern African Development Community (SADC) Protocol on Trade, a pact signed and adopted by regional member states in 1996 which facilitates the free movement of goods and services across the region.

The country is also a member of the Common Market for Eastern and Southern Africa (COMESA).

Zimbabwe has five preferential bilateral trade agreements with Botswana, Namibia, Malawi, South Africa and Mozambique aimed at encouraging and stimulating inter-country trade and the elimination of tariffs and other non-tariff barriers to trade.

The agreements provides for Zimbabwean importers to purchase goods from signatory countries without paying import duty or to pay a small agreed duty as long as the goods in question qualify under the terms of the agreement and are registered as such with the relevant authorities, according to ZimTrade.

Said Paul Mangwana, a former cabinet minister and the head of the five member delegation of the ZABA that travelled to Angola last week:

“Zimbabwean business was assured of preferential treatment in the event that they indicate their interest in engaging in any form of business in Angola. Doing business in Angola is not about money. It is about trading our skills.”

Mangwana said with the current high unemployment in the country, there was need for businesses to organise themselves and provide labour in the country considering that Zimbabwe was a country with a huge human resource base.

“Angola has the money and we have the skills, why not trade the two?

There are a lot of unemployed teachers in Zimbabwe yet Angola needs a lot of teachers,” said Mangwana.

The minister of State for Harare Metropolitan Province, Miriam Chikukwa, called on Zimbabweans to set aside their political differences and work together for the development of the country.

“Shelve politics for later; we should work together for the benefit of the majority,” said Chikukwa. What the people want is clean water, service delivery, good health and peace. For us to achieve this, we should work together.”

ZABA was formed in 2013 with the vision to promote an economic link between Zimbabwe and Angola.

Post published in: Business
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