Russian billionaire to partner Zimbabwe fertiliser firms

Dmitry Mazepin

International investors continue to warm up to the country’s revamped open business policy, the latest being a Russian billionaire Dmitry Mazepin who arrived in the country this evening (Tuesday) and the business mogul is expected to forge strategic partnerships in the fertiliser processing industry.

The arrival of the Russian business magnate signals the heightened appetite by the international community to invest in Zimbabwe following the open business policy enunciated by President Emmerson Mnangagwa at various economic engagements, the latest call having been made at the recently concluded World Economic Forum in Davos, Switzerland.

It’s the second time within three weeks that Zimbabwe has attracted interests from billionaires interested in investing in the country’s key economic sectors after the visit by South African tycoon Mr Robert Matana Gumede on the 15th of last month.

Mr Mazepin is the owner of Russia’s largest fertiliser manufacturer, Uralchem, that specialises in mining potash.

He has an estimated net worth of US$7.7 billion according to the Forbes magazine rating, and his empire is a respected brand across the globe.

The Russian business mogul is now looking into teaming up with local fertiliser processing firms in deals that could enhance their operational viability and productive capacity.

Given that it is his first time to visit Africa, it’s not a coincidence that his sights have been directed to Zimbabwe as his visit is widely viewed to be a response on the improved perception of the country from a high risk investment spot to a more relaxed and conducive environment following key reforms in economic policies that handle  international investments.

The business tycoon is expected to engage representatives from fertiliser manufacturing firms as they identify areas of mutual interest before they can work out the investment package.

The warming up of the international community to Zimbabwe highlights the key strides that are being made under the new administration to attract positive investment appetite in the country, and this show of confidence by the visiting Russian delegation will help to promote the country as a safe destination for investments. – ZBC