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BizDay Zimbabwe

Land still a high risk investment area: Minister Timba

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Trust Matsilele, Harare, March 20, 2013- Land is still a high risk area as far as investing in Zimbabwe is concerned, Minister of State in the Prime Minister’s office Honourable Jameson Timba confirmed to the BizDay in an exclusive interview recently.

Minister Timba warned that due to “lack of tenure” in the land sector it was difficult for investors to be attracted in this area.

Timba who was in business before joining politics said the new constitutional dispensation was however going to remedy this challenge.

Minister Timba added that “we now have a new constitution that introduces a land commission and subsequently a land market which will lead to security of tenure” which will see the country redressing the contested land exercise.

Timba, also a legislative representative of the Movement for Democratic Change led by Prime Minister Morgan Tsvangirai, said another area in need of total revamp was the Indigenisation and Empowerment Act.

The Minister of State warned that when his party comes to power it would revise the Act to ensure a more favourable investment climate is created.

“We will repeal it (Indegenisation Act) and introduce an empowerment model that is geared towards creating new enterprises rather than grabbing and sharing the weak companies that we have” said Timba.

Timba’s comments come two weeks before the governing coalition partners hold an investment conference in Johannesburg, South Africa.

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