South African investors are considering investing at least $1.6bn (R13.37bn) in capital projects in various sectors of the Zimbabwean economy, a Zimbabwean government minister said on Monday.Economic Planning and Investment Promotion Minister Tapiwa Mashakada said his country had received various project proposals since it held a high-level trade and investment conference in South Africa earlier this month. He was addressing delegates attending the Zimbabwe-South Africa Trade and Investment Conference held at the Zimbabwe International Trade Fair. Some of the projects that had drawn interest from South African investors included a diamond cutting and polishing centre as well as setting up a gold refinery. Speaking at the same conference South Africa’s Deputy Minister of Trade and Industry Elizabeth Thebethe urged Zimbabwe to create strong trade synergies with her country as it was the continent’s biggest economy. She added that with the right policies, Zimbabwe was bound to fully recover. Thabethe also mentioned that two-way trade between the two countries in 2012 stood at R18.8bn compared to R18.5bn in 2011 and R16.5bn in 2010.
