Harare — The Zimbabwean government has promised to lower taxes for foreign investors in an attempt to lure foreign direct investment (FDI). Finance Minister Patrick Chinamasa told a business meeting in Windhoek on Monday that his government would go the distance to attract investors. "Taxation‚ I agree‚ is too high. It’s a matter that we are going to address so that we can proceed to a position where we get more taxes from more volumes‚" he said. Under former president Robert Mugabe’s watch in 2017‚ the World Bank ranked the country 159 out of 190 on the ease of doing business global index. Potential investors such as Nigerian billionaire Aliko Dangote were worried about the government’s policy inconsistency‚ particularly with the indigenisation laws that required ceding majority ownership to locals. However‚ the law has since been relaxed. Dangote is yet to invest in the country. But the new toast of the town is South African businessperson Robert Gumede‚ described by Forbes Magazi...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now