Imara, an independent Botswana-listed investment banking group, expects a large turnout of foreign delegates to descend on the Zimbabwean capital of Harare for its annual investor conference on June 3 and 4 as the event occurs on the probable run-in to the landlocked nation’s eagerly anticipated elections.
Zimbabweans have already voted overwhelmingly in favour of a new constitution, clearing the way for presidential elections, noted Tino Kambasha, Executive Director at Imara Zimbabwe, co-conference organisers with South Africa-based Imara Africa Securities.
He added: “The peaceful referendum has focused international investor interest on prospects for a new political beginning on the back of an economic recovery that has recently seen GDP growth of more than 7 percent a year.
“We therefore expect strong interest in the conference by fund managers and sophisticated investors from North America, Europe, the Middle East, Asia and neighbouring South Africa.
“The last year has witnessed significant investment inflows into Africa’s so-called Frontier Markets as African growth prospects have remained remarkably resilient at a time when many developed economies are still struggling with the after-effects of recession.”
The International Monetary Fund forecasts that Africa’s average growth rate will top 5 percent in 2013. Zimbabwe’s economy has reportedly been growing at approximately 7.5 percent since dollarisation in 2009.
The conference will be staged at Harare’s Meikles Hotel and will feature visits to new production lines at manufacturing companies that are taking advantage of the country’s economic recovery and the continuing uptick in local consumer demand.
Conference participation has been confirmed by some of Zimbabwe’s leading corporates, including AICO, Dairibord, Econet, Innscor and New Dawn.
Kambasha noted: “Conference timing could hardly be better as the scene has been set for new presidential elections following the peaceful turnout for the referendum on the new constitution.
“Our conference will most probably occur at a time when policy parameters are being spelled out and investors can get a real sense of emerging opportunities in a wide range of sectors, from resources to fast-moving consumer goods, agri-business and manufacturing.
“The response from invitees has been very positive and we expect a strong turnout from investors looking for value and growth opportunities.”
Imara is mid-sized investment banking group with offices in Angola, Botswana, South Africa and the UK and associate offices in Malawi, Mauritius, Zambia and Zimbabwe.
The Group is an active participant in Africa’s financial markets and maintains extensive research coverage of regional equities.
