Rwandan businessmen are hosting their Zimbabwean counterparts where a deal to form a business alliance that would compete for international tenders was proposed.
40 investors who concluded their trip in Rwanda on January 25th are looking for potential investment opportunities in Rwanda.
Upon arrival, they said that they are interested in open ended win-win investments between both countries.
They said they were most interested in industrial sector, then minerals like Gold and Coltan.
Archie Dongo, from National Chamber of Commerce Zimbabwe said that his country being a newborn country, it needs to establish relationship with Africa.
“We want to do business with our fellow Africans especially Rwanda which has enormous investment opportunities,” Dongo said.
“We have identified different sectors where we want to partner up with Rwandans including ICT, mining, Agri-business, education and we are ready to kick off in order to promote investment in our countries,” Dongo said.
Pascal Ndayizeye, CEO and founder of Pascal Technology a Rwandan who has invested in Zimbabwe was also part of this delegation.
He said; “We work in South Africa and Zimbabwe and we have invested $1million in software development. Our target is to expand to other African countries for more partnerships.”
For this to work, Zimbabwe based investors proposed to form an alliance with their Rwandan counterparts.
This, they said, would allow them to compete for medium term infrastructure projects in East Africa Partner States which are in the pipeline or already underway.
These projects alone are worth over US$ 20 billion, a large portion of which is available for uptake by engineering and construction service providers.
Zimbabwean investors visited several businesses to see what Rwanda offers.
Before bidding farewell, they met Rwanda Stock Exchange officials and expressed their intention to cross list their companies in Rwanda and the idea was welcome.
“There are always opportunities to invest and make money,” Celestin Rwabukumba, Rwanda Stock Exchange CEO told the delegation.
Zimbabwe is seeking to increase the number of small producers as part of its economic empowerment drive.
After learning about Rwanda stocks, the delegation said that they would be willing to bring in portfolio investors as soon as possible.