Zim takes investment agenda to Nigeria

27 May, 2022 - 00:05 0 Views
Zim takes investment agenda to Nigeria Mr Patrick Muzondo

eBusiness Weekly

Enacy Mapakame

Zimbabwe takes the investment agenda to Abuja, Nigeria where it will participate at the Nigeria Africa Natural Resource and Energy Summit that will look at the sustainable development of Africa’s natural resources through knowledge sharing, investment and trade.

The Victoria Falls Stock Exchange (VFEX), Ministry of Energy and Power Development and Ministry of Mines and Mining Development will participate at the mega-summit running from May 30th to June the 3rd.

Every edition of the Nigeria-Africa Natural Resource and Energy Investment Summit is targeted at addressing the fundamental challenges African nations face within the natural resource and energy sectors.

Attendees and speakers will therefore discuss investment trends and strategies that may be used to maximise the potential and accelerate the economic diversification of African nations.

Financial Markets Indaba (FMI) are the event partners at the summit initiated by the Nigerian Government and holding at the Abuja International Conference Centre.

“The four-day forum, which has been convened to encourage the development and financing of sustainable and green natural resource and energy projects in Africa, consists of plenary sessions led by the Host of the Summit HE President Muhammadu Buhari GCFR, other African Leaders, Ministers, Ambassadors, Captains of Industries, and Representatives of Multilateral Institutions.

“The forum’s aim is to encourage the development and financing of sustainable and green natural resource and energy projects in Africa.

“This platform operates as a multi-stakeholder, multi-disciplinary platform, dedicated to marketing bankable projects within the African Natural Resource and Energy Sector.

‘‘It will serve as a summit to raise capital for such projects, sharing knowledge, and developing policy to accelerate the development of the energy resources of every African Nation sustainably,” said FMI managing director Patrick Muzondo.

Zimbabwe has a vast mineral resources potential with minerals that include lithium which are used in components for electric vehicles, battery storage, renewable energy and technology.

There is also a substantial increase in demand for several key minerals and metals that will lead to the manufacturing of cleaner energy technologies, creating scope for the two Ministries to take part at the summit.

On the other hand, the energy sector also remains an important sector of investment and greater resilience to climate change impacts which will be essential to the technical viability of the energy sector and its ability to cost-effectively meet the rising energy demands.

For the VFEX, its chief executive officer Justin Bgoni, will present at the summit as efforts to lure more investors to the USD denominated bourse.

The VFEX is a subsidiary of the Zimbabwe Stock Exchange (ZSE) established to kick start the Offshore Financial Services Centre (OFSC) earmarked for the special economic zone in Victoria Falls, offering investment opportunities and a platform to raise capital for both local and foreign investors.

According to the FMI, the summit will also provide bilateral meeting spaces for African leaders and a deal-making forum for CEOs and financiers.

Additionally, the Summit provides industry actors with exhibition spaces to showcase services, products, and investment opportunities to the world.

“This will provide exhibitors with an opportunity to have a lasting presence that will ensure lead development over the course of the summit,” said Muzondo.

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