Mauritius and the British Virgin Islands remain an excellent route for structuring foreign investments into Zimbabwe since 2009. In fact, according to the latest statistics (2009-2015) from the Zimbabwe Investment Authority (ZIA), Mauritius is the largest source of investment flows accounting $4, 56 billion.
Mauritius combines the traditional advantages of being an offshore financial centre (no capital gains tax, no withholding tax, no capital duty on issued capital, confidentiality of company information, exchange liberalisation and free repatriation of profits and capital) with the distinct advantages of being a treaty based jurisdiction with a substantial network of treaties and DTAAs.
China is the second largest source country at $2,81 billion with the most significant amount of $1,09 billion coming through in 2011.
Other top source countries include South Africa at $1,54 billion, US $1,6 billion and Nigeria $1,45 billion. The bulk of the Nigerian investment was approved in 2015 for the Dangote Group whose strategist was in the country last week.
According to the figures, $400 million will be invested in the energy sector, manufacturing $500 million and $300 million in the mining sector.
Total investment approved amounted to $3,16 billion from 170 projects. The projects are forecast to create 13 377 jobs and about $30 million in export earnings.
However, these are just investment projects approved and not implemented. Figures from UNCTAD on actual investment flows show that $2,42 billion has been invested into the country since dollarisation.
Source: The Herald
Read more on: http://www.herald.co.zw/mauritius-leads-investment-flows-into-zim/
Posted on: 19 January 2016