Zimbabwe Has Great Economic Potential – Russian Academics, Business Executives

RUSSIAN business executives and academics Sunday said there are enormous benefits in investing in Zimbabwe especially in the mining and agriculture sectors noting the country’s promising economic potential.

The Russians also said investors should consider that Zimbabwe was one of the safest states in Africa.

These sentiments came out when the Association of Economic Cooperation with African States (AECAS), the Institute of African Studies of the Russian Academy of Sciences, Russia-Zimbabwe Business Council, Vi Holding and the Roscongress Foundation held a webinar entitled “Russian Business in Zimbabwe”.

During the meeting, experts and business representatives gave an analysis of Russian-Zimbabwean business contacts, interaction with authorities, building relations with business partners and prospects for bilateral cooperation.

Irina Abramova, director of the Institute for African Studies of the Russian Academy of Sciences, said Zimbabwe has potential interest and is open to Russian business.

“The country is rich in minerals such as palladium, lithium, chromium, and many others. Exploration and mining of minerals is extremely important and very promising,” she said.

Vladimir Shubin, chief researcher at the Centre for Social and Political Studies of the Institute of African Studies, also drew attention to the importance of Russian-Zimbabwean business ties.

Vasily Sidorov, a researcher at the Institute of African Studies, noted in his speech that Zimbabwe is a state with great economic potential.

“The country needs investment to develop its economy, and this could be an attractive factor for Russian business. The country has one of the most educated population on the continent. Zimbabwe is also considered one of the safest states in Africa,” he noted.

Igor Higer, Vi Holding’s representative in Africa and Vice Chairman of the Board of Directors of Great Dyke Investments, spoke about the specifics of doing business in Africa.

“The mistake many Russian companies make is that not everyone is ready to open a representative office in Africa. Getting to know government officials or potential partners can only give them an initial impression of the country and future projects. And for full-scale activities, you first need to open a full-fledged office, as it is done all over the world,” he shared.

According to Igor Higer, Zimbabwe is attractive for investors, including those into agriculture.