Business Reporter

THE curtain came down on the African Investor Pan African Investment Summit with 150 foreign investors pledging to pour capital into in Zimbabwe.

In an interview after the summit, Ai managing director Mr Hubert Danso said the event was successful with foreign investors registering strong interest to invest in the country.

“We had about 150 foreign investors and I can say it was successful. The summit managed to attract powerful investors in tourism and related sectors and Government participation was huge, giving investors the clear political commitment that the Government of Zimbabwe has,” said Mr Danso.

More than 500 delegates attended the summit, which was officially opened by President Mugabe.

Mr Danso added that a number of summits had been lined up till the end of the year and onus was upon Government and the private sector to follow up on deals.

The summit, which brought together international authorities involved in commercialising legacy projects from previous World Cups and major sporting events, said Government should partner the private sector to reap maximum benefits from the 2010 Fifa World Cup.

Participants encouraged Government and the private sector to come up with long-term projects to enhance economic growth post-2010.

Meanwhile, Economic Planning and Investment Promotion Minister Elton Mangoma said Zimbabwe would soon partner Zambia to promote the Victoria Falls as a world tourist destination.

“We are looking at a master plan to transform Victoria Falls to one of the most desire destination in the world,” Minister Mangoma said.

He added that there are opportunities in the energy, infrastructure among other tourism enablers that foreign investors can invest in.

The investment summit, organised by Africa investor in conjunction with the Ministry of Tourism and Hospitality Industry, and the Zimbabwe Tourism Authority, offered the country the opportunity to position itself as an attractive and competitive investment destination.

The tourism sector suffered a -9 percent fall in 2008 due to a protracted negative publicity campaign against Zimbabwe on the political front.

However, the negative development was countered in 2009, with the sector registering a positive 4,7 percent growth after the formation of the inclusive Government that brought about political compromise, resulting in confidence among international investors.

Going forward, the tourism sector is expected to grow by a significant 10 percent this year, underpinned by increased arrivals and the Fifa World Cup to be hoisted by neighbouring South Africa.

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