A South African business delegation from a cross-section of key sectors of its economy would visit Zimbabwe later this year on a trade and investment mission. The objective of this mission would be to increase trade and investment between South Africa and northern neighbor Zimbabwe. Trade between the two countries topped $ 4.2 billion last year.
According to South African’s Department of Trade and Industry (DTI), the country would sponsor selected entities looking to increase exports and services to Zimbabwe or seeking opportunities for investment.
There are a number of leading South African companies that have already established in Zimbabwe. Among them are Pretoria Portland Cement (PPC),Tongaat Hulets Zimbabwe, Old Mutual Zimbabwe, MBCA Bank, Pick n’ Pay, Metallon Gold and Zimplats. Further, South Africa is Zimbabwe’s biggest trading partner while Zimbabwe ranks among the top three major trading partners of South Africa. About 70% of Zimbabwe’s exports go to South Africa.
According to the DTI, this measure will present an ideal platform for South African companies that would like to export value-added products and services and for companies that are looking for investment opportunities and joint venture partnerships in the aforesaid market. The objective of this mission is to increase trade and investment between South Africa and northern neighbor Zimbabwe. Trade between the two countries topped $4,2 billion last year.
The Department also said that it would provide hotel accommodation on bed-and-breakfast basis; an economy class return airfare to a maximum of R17,000 and freight/excess luggage up to R2,000 to approved firms.