Arcadia Foundation

Zimbabwe’s President Robert Mugabe made a surprise showing at Africa’s biggest business meeting in Dar es Salaam yesterday to appeal for investment. He also tried to downplay the highly controversial indigenization laws which (among other dated atrocities) will undoubtedly stifle much needed-investment, rendering 51% ownership of any organization or business operating in Zimbabwe and earning $500,000 annually to black Zimbabweans.

He was accompanied by members of the fractious coalition government.

Mugabe dismissed investor worries about new ownership laws -

“People have said it will drive away investment. We say it won’t,” Mugabe said.

“Companies have been forthcoming … I don’t think it’s a painful thing for them – 49% is a lot,” he told reporters.

Continued, as excerpted from South Africa’s Times Live:

Mugabe took the stage at the World Economic Forum on Africa with his prime minister, Morgan Tsvangirai, an old rival who joined him in a unity government last year, and Arthur Mutambara, the leader of the third member of the coalition.

Tsvangirai said that his country no longer posed a risk to investors and that the political crisis that destroyed its economy “no longer exists“.

“The country is making progress and it is time that investors started looking at Zimbabwe from a different perspective,” Tsvangirai said.

Meanwhile, South African president Jacob Zuma met WTO director-general Pascal Lamy on the sidelines of the forum earlier in the week, the Presidency in South Africa said.

The meeting is one of the many Zuma had to discuss ways of strengthening the multilateral trade system, the finalisation of the Doha Development Round of negotiations, and challenges to regional integration in Africa.

Zuma also met Kenyan Prime Minister Raila Odinga for discussions on issues of mutual interest and strengthening of political and trade relations between Kenya and South Africa.

Eleven African heads of state are attending the 20th Forum on Africa to discuss economic strategies in the aftermath of the world financial crisis.

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