Finance minister Mthuli Ncube plans to embark on a roadshow to global capital powerhouses in Europe and the United States. His aim is to explain to would-be investors the progress the country has taken so far on its reform agenda.
As Ncube stated, “We will visit global capital and go for a roadshow. We will start with Frankfurt and go to Japan, London and New York and maybe the West Coast also so that we explain the reform agenda the progress we are making. We will also explain the economic policies and the opportunities that are available in this country. We are not trying to raise the money or do a deal.”
Reserve Bank of Zimbabwe governor John Mangudya, the permanent secretary of finance George Guvamatanga and other captains of industry will accompany Ncube.
According to Ncube, introduction of the market-based exchange rate system will be considered as a sign for foreign investors to flood the country.
He states: “By introducing this market-based exchange rate system, we are providing certainty on the exchange regime. Before, they were asking us, in fact, do you know the fact that investors could not remit the dividends because we don’t have an exchange rate regime. Capital can only come in if it knows it can get out. By doing what we have done, we are dealing with it”.