SA businessman Robert Gumede looks to invest $1.2bn in Zimbabwe

The Guma group founder told state media that he believes good times are back in Zimbabwe, and that as an investor he couldn’t wait.

Businessman Robert Gumede. Picture: @Robert_Gumede/Twitter

HARARE - South African businessman Robert Gumede is in Zimbabwe this week to look at investment opportunities in the wake of Robert Mugabe’s resignation.

A company official says Gumede’s Guma Group is looking to invest $1.2 billion in Zimbabwe.

Gumede jetted into Harare on Sunday.

The Guma group founder told state media that he believes good times are back in Zimbabwe, and that as an investor he couldn’t wait.

Company official, Emmanuel Charumbira, said the Guma group is looking to invest $1.2 billion in projects, which are understood to include IT and infrastructure.

The new government of President Emmerson Mnangagwa is desperate to lure investors.

Observers and diplomats say so far Mnangagwa’s administration is making the right noises but needs to speed up economic reforms to improve the investment climate.