Investors bet on new dawn for Zimbabwe

[Nutmegger]

Source: Financial Times

Foreign investors tend to avoid imploding African economies. But a small crew are bucking the trend in Zimbabwe, lured by plunging asset prices and a belief that once 83-year-old President Robert Mugabe goes, recovery could be swift.

Leading the charge is Lonrho, the conglomerate that has been seeking to rebuild the African empire created by the late Tiny Rowland.

It announced on Friday that it had raised an initial £32.3m ($66.4m, €48m) from shareholders towards a new subsidiary – Lonzim – to buy up assets in Zimbabwe with a “significant opportunity for future growth”.

David Lenigas, Lonrho’s executive chairman, told the Financial Times that he aimed to raise a total of £100m for the company through a share offer to be launched in London soon.

Read more: http://www.ft.com/cms/s/04313d36-36f7-11dc-9f6d-0000779fd2ac.html

[pork medley]

1. good thing foreign investment serves the best interests of the people of zimbabwe

and, of course, it does

[David__77]

2. I hope whoever succeeds Mugabe follows an antineoliberal agenda.

Hopefully they will put the people's interest first and the investors' interest second.

[1932]

3. amen to that.

[hack89]

4. The money to rebuild the economy has to come from somewhere

and where else but private investors? Why can't investor and people's interest be the same given adequate regulation?

[ohio2007]

5. .

wrong thread