A compromised judiciary and property rights concerns are reportedly the major deterrents and the reason why many investors from the UK are not interested in investing in Zimbabwe.
This was reportedly revealed by the UK minister for Africa James Duddridge yesterday (Wednesday) in an opinion piece that was published in South Africa yesterday.
Duddridge is quoted by ZimLive as saying:
UK investors repeatedly tell us that three things prevent them from investing in Zimbabwe: concerns about the poorly managed currency, concerns about the arbitrary property rights, and concerns about the legal system.
These areas can be improved through genuine political and economic reform and with greater investment, the economy can be rebuilt for all Zimbabweans.
Duddridge also spoke about the lack of reforms and the human rights issue in Zimbabwe and said:
In 2017, President Emmerson Mnangagwa committed to reforms to bring legislation and practice in line with Zimbabwe’s constitution. This is encouraging. But sanctions will be retained for as long as the human rights situation in Zimbabwe justifies them.
The UK is committed to supporting Zimbabwe’s long term success. But the onus is on the Zimbabwean government to show it is willing to take steps to make the critical political and economic reforms the country needs. Until then we will not shy away from defending human rights.
The UK recently imposed sanctions on 4 Zimbabwean officials who according to the UK were directly involved in human rights abuses.
More: ZimLIve