Maravi

(NEWZIMBABWE) Emerging US interest in Zim opportunities– Imara

Emerging US interest in Zim opportunities– Imara
by
03/01/2010 00:00:00

ANALYSTS say there is renewed global interest in Zimbabwe with investors, particularly from the United States, beginning to look at emerging opportunities in the recovering Southern African country.

Botswana-registered Imara financial services group recently concluded its annual “show-and-tell” safari to America highlighting investment prospects on the continent and says US business executives showed great interest in Zimbabwe.

"US investors had very few questions about North Africa or South Africa. Their interest was on all the markets in between, with Zimbabwe and Nigeria coming in for closest scrutiny.

“Zimbabwe is interesting to Americans because the economy was assumed to have been ruined beyond repair by the country's lost decade.

“Yet dollarisation and the first stirrings of reform immediately triggered a big upsurge in economic activity – indicating that huge potential can be unlocked, even by quite limited initiatives,” Imara group CEO Mark Tunmer said.

The Imara group has offices across sub-Saharan Africa as well as in Dubai and the United Kingdom.

Meanwhile equity investors have welcomed the recent review of the cost of trading on the Zimbabwe Stock Exchange (ZSE) which, at 7.5 percent was considered too high relative to the rest of the region.

The Ministry of Finance reduced the fees for both buying and selling of shares to just over 3 percent and analysts say this will significantly boost activity on the bourse in the New Year.

“(This renewed) interest should result in an increase in market turnover with consequent (benefits) for all stakeholders including the Government.

“Hitherto, the equities market had been left illiquid as it had become too expensive to (trade),” an investment advisor said.

Labels: STOCKMARKETS

posted by MrK @ 12:16 AM