Zimbabwe positioned to attract more FDI

BUSINESS woman and investor, Tatiana Ellis says the removal of Zimbabwe from the list of countries that are considered to be insufficiently compliant in implementing Anti-Money Laundering and Counter Financing of Terrorism was a positive development that will attract more foreign direct investment in the country.

The Financial Action Task Force removed Zimbabwe from that list during the first quarter of the year.

Tatiana Ellis, chief operating officer for West Property

“This is good news to investors and a boost for Zimbabwe as it speaks to the financial attractiveness of Zimbabwe as a nation. Adding to that, the AfDB Infrastructure report estimates that Zimbabwe requires US$2 billion annually until 2032 for financing economic infrastructure. With the government of Zimbabwe currently funding about 20 percent of this financing requirement, the remaining 80 percent gap is an opportunity for local and international investors to foster infrastructure development partnerships,” she said.

Tatiana is the chief operating officer for West Property and has been investing in the country since 1997.

“We are into property development, both commercial and residential. We have the Mbudzi flea market and the upcoming Mall of Zimbabwe under our commercial belt. On the residential side, we have spearheaded a number of developments in Zimbabwe, in Pomona, Borrowdale and many other locations. Pokugara is our latest offering, and it is located in the plush suburb of Borrowdale, boasting both opulence and expediency. Our mission is to delight our customers with the latest innovations, and our developments are testament to its fulfilment,” she said.

Zimbabwe has witnessed a rise in property market activities, including property construction and demand for residential and commercial properties over the past two years.

This was largely driven by fund managers who were trying to hedge their funds against potential loss of value under lockdown. Corporate and individual investors were also under pressure to offload their excess liquidity for safe investment havens like properties.

As Zimbabwe’s financial service sector continues to improve, a renaissance of localised mortgage lending facilities in Zimbabwe will add an interesting dimension to the Zimbabwe property market’s growth prospects.

On locational preferences, the property market is gravitating towards property locations that are outside the central business district for their environmental and convenience advantages. Against these trends, I advise those looking for easy-to-manage, rewarding and risk-averse investment opportunities to consider investing in properties now.