Harare, Zimbabwe — Washington is actively encouraging American businesses to explore investment opportunities in Zimbabwe, this has been revealed by the U.S. Ambassador to Zimbabwe, Pamela Tremont
She described the country as having significant potential, and highlighted efforts to strengthen economic ties after years of sanctions-induced isolation.
Speaking to reporters, Ambassador Tremont noted, “Our decision in March to abolish the Zimbabwe-specific sanctions program and reduce the number of individuals on the global Magnitsky list was a clear signal of our desire for a better relationship with Zimbabwe.”
She added that the U.S. Embassy in Harare has been working to engage American companies, offering services to assist them in finding local partners and investment opportunities.
Ambassador Tremont said that recent discussions with U.S. financial institutions and companies have focused on re-entering the Zimbabwean market. These conversations have addressed issues related to over-compliance with sanctions.
However, she emphasized that the primary challenges for potential investors lie in Zimbabwe’s economic environment, including concerns about currency instability, regulatory uncertainty, and respect for property rights—not the sanctions themselves.
“In my meetings with the government, I have stressed the need for cooperation to improve the investment climate. Countries need to compete for investors, who are always looking for the highest rewards with the least risks. Enhancing the investment environment and reducing these risks will help attract more investors, not only from the U.S. but from other nations as well,” Tremont explained.
The U.S. signaled a willingness to engage in constructive dialogue with Harare earlier this year, when President Joe Biden terminated the Zimbabwe-specific sanctions program. However, the U.S. Treasury subsequently imposed new sanctions under the Global Magnitsky Act of 2016, targeting President Emmerson Mnangagwa, First Lady Auxillia Mnangagwa, and businessman Kuda Tagwirei. This move sparked criticism from Zimbabwean officials, who viewed it as contradictory to Washington’s expressed desire for improved relations.
As Zimbabwe navigates these developments, the focus remains on fostering a more stable and attractive environment for international investors, including those from the United States.