Mozambican NGO warns of “technical bankruptcy” in the state-owned companies sector
President Mnangagwa is seen off at the Robert Gabriel Mugabe International Airport by Defence and War Veterans’ Affairs Minister Oppah Muchinguri-Kashiri (left) and Chief Secretary to the President and Cabinet Dr Misheck Sibanda before his departure for the 12th US-Africa Business Summit in Mozambique.— (Picture by Memory Mangombe)
President Mnangagwa of Zimbabwe yesterday arrived in Maputo, Mozambique, for the 12th edition of the US-Africa Business Summit, which provides Zimbabwe a platform to engage with United States of America and African private sector executives, international investors and multilateral stakeholders.
He was met at Maputo International Airport by Zimbabwe’s Ambassador to the US Amon Mutembwa and Zimbabwe’s envoy to Mozambique Major-General Nicholas Dube, representatives from the host government and senior embassy officials.
— Weldon N Matambo (@weldon_dott) June 18, 2019
President Mnangagwa’s administration is heightening efforts to engage and re-engage bilateral and multilateral partners in order to integrate the country into the global family of nations and open up the country for more investment after two decades of isolation.
In an interview before leaving Robert Gabriel Mugabe International Airport yesterday, Foreign Affairs and International Trade Minister Dr Sibusiso Moyo said the summit is expected to witness the launch of a US$60 billion facility aimed at developing Africa.
“As you can recall, there has been quite some development on major powers, starting with Forum on China-Africa Cooperation (Focac) in China, which committed to invest US$60 billion towards the development of Africa,” he said.
“The USA has also launched its own US-Africa Business Summit which it expects to launch a US$60 billion facility for Africa and this is why His Excellency President Mnangagwa is going to Mozambique, but at the invitation of his Mozambique counterpart.”
Dr Moyo said the US$60 billion would help the African private sector “to support itself”.
President Mnangagwa will join 10 other Heads of State and Government from across the continent who are penciled in as guest speakers.
The four-day event is being jointly hosted by Mozambique and Corporate Council on Africa (CCA).
CCA is a Washington-based business association that promotes business and investment opportunities between the US and Africa.
More than 1 000 high-level business executives will be in attendance.
Most importantly, the summit provides participants with the opportunity to scout for investments in multiple sectors such as agribusiness, energy, health, infrastructure, ICT and finance, among others.
In addition to providing scope to network with key private sector and government decision-makers, the summit is also a platform to advocate for effective US trade and investment policies.Source: The Chronicle