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The Association for Economic Cooperation with African States (AECAS) together with the Institute for African Studies of the Russian Academy of Sciences, Russia-Zimbabwe Business Council, Vi Holding, with the support of the Roscongress Foundation, conducted a webinar entitled Russian Business in Zimbabwe.
During the meeting, experts and trade representatives gave an analysis of Russian-Zimbabwean trade contacts, interaction with authorities, building relationships with trade partners, and prospects for bilateral cooperation.
Irina Abramova, director of the Institute for African Studies at the Russian Academy of Sciences, said Zimbabwe has potential interest and is open to Russian business. “The country is rich in minerals such as palladium, lithium, chromium and many others. The exploration and extraction of minerals is extremely important and very promising, ”he said.
Vladimir Shubin, a senior fellow at the Center for Social and Political Studies at the Institute for African Studies, also drew attention to the importance of trade ties between Russia and Zimbabwe.
Vasily Sidorov, a researcher at the Institute for African Studies, pointed out in his speech that Zimbabwe is a state with great economic potential. “The country needs investment to develop its economy and this could be an attractive factor for Russian companies. The country has one of the most educated populations on the continent. Zimbabwe is also considered one of the safest states in Africa, ”he noted.
Igor Higer, Vi Holding Representative in Africa and Vice Chairman of the Board of Great Dyke Investments, spoke about the peculiarities of doing business in Africa. “The mistake many Russian companies make is that not everyone is ready to open a representative office in Africa. Meeting potential government officials or partners can only give them an initial impression of the country and future projects. And for large-scale activities, you first need to open a full office, as is done around the world, ”he shared.
According to Igor Higer, Zimbabwe is attractive to investors, including those in the agricultural sector. “Both Belarus and China successfully supply agricultural machinery to Zimbabwe. But so far, Russian manufacturers have shown no interest in it, while agricultural development has significant potential in Zimbabwe, in my opinion, ”said Igor Higer.
Kristina Dubinina, director of strategic marketing for Transmashholding, said it was important for the company to develop business not only in the Republic of South Africa (RSA), where the wagon manufacturing plant operates, but also in other countries on the continent.
“Zimbabwe could be an interesting destination given its proximity to South Africa, where Transmashholding already has production facilities. We are interested in a comprehensive strategic approach in Africa, and we are looking for synergies and development points in this market, which is growing and full of potential, ”said Kristina Dubinina.
He also noted that an important area for the company was the educational potential in the countries of potential presence, allowing for faster and better localization of technologies and skills.
Summing up the webinar, AECAS Executive Director Anna Belyaeva noted that the organization plans to continue holding events that help expand business contacts between African and Russian companies, develop new substantive themes and implement them. “I would like to emphasize AECAS’s willingness to support and promote new and existing commercial projects,” concluded Anna Belyaeva.
By Kester Kenn Klomegah
