Zimbabwe’s central bank assures EU investors on profit repatriation and investment security
The Reserve Bank of Zimbabwe (RBZ) has assured European investors of smooth profit repatriation and investment protection, as the country courts foreign capital to support economic recovery.
Speaking at the EU-Zimbabwe Business Forum in Harare, RBZ Deputy Governor Dr. Innocent Matshe emphasised that registered investments through the Zimbabwe Investment and Development Agency (ZIDA) face no restrictions on repatriating profits, dividends, or disinvestment proceeds.
“This is a regulated, transparent system. Once an investment is registered, there are no obstacles in remitting profits, dividends, or disinvestment proceeds. Regulatory compliance is crucial for seamless operations in Zimbabwe’s financial landscape,” Herald Online quotes Dr. Matshe.
The assurance is in line with President Emmerson Mnangagwa’s “Open for Business” policy, which has been in place since 2018. Zimbabwe has introduced a range of incentives, including tax breaks, duty exemptions, and capital allowances, to attract foreign capital and foster economic growth.
NMB Bank CEO Gerald Gore reinforced RBZ’s message, confirming that repatriations have been processed efficiently for registered investments. “As authorised dealers, we facilitate remittances on behalf of our clients, and the system has been working well,” Gore said.
However, the forum also highlighted challenges. Dr. Sibongile Moyo, Vice President of the Bankers Association of Zimbabwe, warned that unresolved legacy debts, particularly from previously blocked funds, continue to weigh heavily on the financial sector.
