Zimbabwe Companies On US$3 Million Deals in DRC

Zimbabwe Companies On US$3 Million Deals in DRC
Image Credit: Aljazeera

Zimbabwean companies that participated at the Democratic Republic of Congo (DRC) Mining Week expo negotiated business deals nearly US$3 million in mining and mining inputs despite the risks associated with the central African country according to ZimTrade’s monthly newsletter.

Ten companies were in DRC for the expo held in Lumumbashi from 13 to 15 June 2018.

“In spite of its reputation for instability and pandemic diseases especially Ebola, the DRC is attracting a lot of foreign nationals, who can see great business potential in the country,” ZimTrade’s Acting Export Promotion Manager, Renwick Wachenyuka is quoted in the newsletter.

During our visit to Lubumbashi at no time did we feel unsafe, and the Zimbabweans in attendance identified some great business opportunities.”

The Zimbabwean companies discovered DRC having a huge potential market that possibly outweighs the risks according to ZimTrade.

““Our participation at the mining week Expo and visits to DRC’s top mines was quite an eye opener,” Zimbabwe Valves Director said.

“We were not sure of the market we were going into, but it was quite surprising and impressive to note that the DRC has a lot of potential which we can tap into.”

“Moreover, the Congolese seem to have a soft spot for Zimbabwe and were excited to see a Zimbabwean delegation at the Expo for the first time.”

At number 33 in Africa, DRC rated over Zimbabwe which took number 36 at Forbes Magazine’s Best Countries for Business 2018 despite being war-torn.

An investor who participated at an investment forum said that business risks in DRC are better known that Zimbabwe thereby making the central African country more attractive than the “peaceful” southern African country.

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