The new inclusive Government of Zimbabwe is looking to transform the country into an investment mecca and private business is welcome. A range of attractive investment opportunities exist in numerous sectors and some of these are being promoted by Zimvest, a private sector investment consultancy.
Who is Zimvest?
• We are a one stop shop for investing in Zimbabwe. Our clients include businesses and NGO's.
• We advise on investment opportunities and facilitate investment in all spheres of business in Zimbabwe.
• We have a number of general and property investment opportunities on our books at present.
What’s new?
PROPERTY
There are a number of commercial and industrial properties available at significantly reduced market
prices.
Hotels: We currently have a 112 room hotel in Harare as a going concern for USD 6,5 million. (The hotel is pictured right.)
Flats:
• Avondale: Price guide USD $550 000. 14 X 1 bedroom flats, 2 x 2 bedroom flats and a caretaker’s cottage in a very good location.
• Avenues: Price guide USD $600 000. A block of flats comprising 15 x 1 bedroom and 3 X bachelor's flats.
• Greendale: Price guide USD $250 000 a block of flats comprising 5 x 2 bedroom and 1 x 1 bedroom garden flats.
We also have been approached to look for joint venture (JV) partners for an ambitious residential project in Harare, and are currently acting as consultants for a number of PPPs on offer in Zimbabwe.
Kariba: Numerous property investments available, including a beautiful 4 bedroom house on the shores of Kariba in Lomagundi Lakeside for USD 110 000. This is an excellent location and excellent value for money.
MINING
Coal – An opportunity exists for a mining house to develop a potentially lucrative coal mine and fund the construction of two power stations.
Lime – Long term lease on a Lime factory with significant growth and export opportunities.
Gold – Several gold mines under care and maintenance for sale or rehabilitation on a JV basis. One large Greenfields gold project.
Other minerals – Manganese and Chrome JV concessions.
OTHER OPPORTUNITIES
Businesses as a going concern
We have a number of businesses looking for equity partners:
Industrial Bearings Company - Joint venture partner required for Zimbabwe Bearings, a major manufacturing company specializing in industrial bearings. Key markets are in the SADC region. A modern plant exists in Harare but recapitalization is required.
Integrated cargo facility - to cater for the largest border facility in Southern Africa.
Leather Products manufacturing company - A joint venture partner required for equity/loan contribution (the project proposal has already been completed). The company manufactures leather products and is seeking to expand its operations.
Public Private Partnership
Public Private Partnership partner needed to rehabilitate City of Bulawayo’s waterworks and related infrastructure.
INCENTIVES FOR INVESTMENT
The Zimbabwe Government is offering a number of incentives to investors in the mining, construction and tourism industries.
Mining:
• Income tax on mining companies to be levied at a flat rate of 15%.
• All
capital expenditure incurred wholly and exclusively for mining operations shall be allowed as a deduction at the rate of 100%.
• Royalties on minerals are extremely low, but are non tax-deductible and are charged on a gross fair market value.
• There is a 5% withholding tax on dividends for Zimbabwe Stock Exchange (ZSE) listed companies and 10% for all other companies.
• There shall be a duty exemption for customs duty, surtax and VAT on all capital goods during the exploration phase of a mining project, and for a period of up to five (5) years from the date of grant of mining title, during the development phase thereof.
Tourism:
• Currently all tourist operators are allowed duty free exemptions on vehicles imported for their operations.
• In addition, investors in areas designated as Tourism Development Zones (TDZ) enjoy 0% tax in the first five years of operation, thereafter 15% and
20% for the second and third five year periods.
• Full refund of duty on all capital expenditure for use in TDZs.
• Normal corporate tax is 30%.
