Imara postpones Zimbabwe investment conference due to economic instability
The conference was expected to be one of the highlights on Zimbabwe’s business calendar and had become a useful forum to gauge investor interest
Africa’s leading nonbanking financial services group, Imara, has postponed its Zimbabwe investment conference to June 2019 because of that country’s fickle economy. Imara operates directly and through partners in 10 African countries and has an office in London. It has been at the forefront of African capital markets for more than 60 years and was involved in the establishment and growth of stock markets across Southern Africa, in Botswana, Malawi, Swaziland, Zambia and Zimbabwe. Zimbabwe’s economy was sent into a tailspin shortly after its disputed general election in July with acute currency shortages, a thriving currency black market, steep price increases and shops not stocking basic commodities. In a bid to attract investment, newly installed finance minister Mthuli Ncube has introduced a raft of structural economic changes.
The economic situation was further worsened by a cholera epidemic with more than 54 people dead and 10,000 affected amid an acute shortage of drugs. ...