Massive potential for Zim-Botswana investments - CZI

| Thursday November 25, 2010 00:00

CZI president Joseph Kanyekanye said many opportunities were identified for the manufacturing sector when CZI visited Botswana last week.

'Zimbabwe Glass Industries Limited manufacturers of glass bottles, are looking for capital and silica-based chemicals. The glass company is one of the largest importers of Botswana soda ash and salt. Altim Botswana, a subsidiary of Allied Timbers of Zimbabwe, is already in Botswana with large operations in Francistown and Gaborone, as well as two other centres. They are seeking to expand their operations in Botswana,' Kanyekanye said.

He added that there are Batswana companies who are looking forward to investing in the manufacturing sector in Zimbabwe.

Kanyekanye said a tile manufacturing company and a bottle manufacturing and assembly plant from Botswana would be setting up a facility in the country soon.

'In the financial services sector, vast opportunities exist, especially in the context of credit line facility. These are areas of due diligence, tax advice, accounting services, transaction processing, insurance, micro-lending and fundraising,' Kanyekanye said.

CZI and the Botswana Confederation of Commerce, Industry and Manpower (BOCCIM) are to form an insurance cover that covers members in the two countries.

'It was agreed that CZI and BOCCIM should lobby for single-standard insurance for the region. This will help members of CZI and BOCCIM when they are conducting business in the two countries so that they will not encounter any problems,' Kanyekanye said.

Kanyekanye visited Botswana with 20 CZI members to collaborate with their counterparts in Botswana in establishing partnerships and joint ventures.

Botswana indicated during the visit that it could pay its pledged $76 million to Zimbabwe before year-end. The funds are supposed to resuscitate the country's ailing economy.

'We wanted to know how we could participate, once the line of credit is ready and to prepare for the utilisation of the facility,' Kanyekanye said.-(Newsday)