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Israeli investors eye Zim as investment destination

Israeli investors eye Zim as investment destination

Farirai Machivenyika – Senior Reporter

Several Israeli companies are showing interest to come and invest in the country with the country’s ambassador to Zimbabwe, Ambassador Gershon Kedar urging Government to continue engagement with various stakeholders to improve the economic environment.

Ambassador Kedar said this after paying a courtesy call on Vice-President Kembo Mohadi at his Munhumutapa Offices on Tuesday.

“I am in discussion with the private sector (in Israel) as well. Of course there are various companies here already working in various areas,” he said.

“I think as the Government addresses the economic situation here together with the assistance of international financial institutions, many Israeli companies would want to come here,” said Ambassador Kedar.

Source: The Herald Zimbabwe

Chronicle Reporter
A GROUP of Israelis is eyeing business opportunities in Zimbabwe which could see them pouring millions of dollars in various economic sectors.

A director of Israel based Goldenstone company, Mr Yamin Yaron, said they were keen to invest in the country’ mining sectors, especially gold, platinum and diamonds as well as the energy sector.

He said the company, which also has operations in South Africa and Belgium, was prepared to invest up to $100 million in the country. He said they were not deterred by the economic empowerment programme being spearheaded by the Government to empower indigenous people as they had local partners.

Under the economic empowerment programme, locals are required to own at least 51 percent of shareholding in companies.

“We are not afraid of indigenisation. We trust Zimbabwe. We trust the President. We love the way he has controlled the country,” he said.

Mr Yaron said the company, together with its local partners, has already invested in a gold stamp mill in Shangani and a gold processing plant at Montgomery on the outskirts of Bulawayo.

The company’s local partners include Ms Henrietta Rushwaya and Mr Thompson Mpala.

Another investor from Israel, Mr Michael Biniashvili, said they chose to invest in Zimbabwe because it was a peace loving country. He said the country had many investment opportunities.

“Zimbabwe is a country that needs to be explored and not exploited,” he said.

He said the company was involved in construction, diamond mining and import and export business. The Israeli delegation arrived in the country yesterday from South Africa aboard a chartered aircraft.

Ms Rushwaya said the gold project was a partnership between Israelis and a consortium of Zimbabweans. She said $5 million had so far been invested in the gold project.

“We have invested $5million to date on the major project which they have come to view in an effort to increase their funding,” she said.

Mr Mpala said the Shangani stamp mill started operations in February and was playing an important role in supporting local small scale miners.

Gold was recently discovered in the Shangani area resulting in a gold rush. Mr Mpala said the company had three stamp mills which were running 24 hours a day and operating at between 60 and 70 percent.

Source: Chronicle

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