Monday, October 5, 2009

German investors cast doubt on Zimbabwe progress

A group of German investors who undertook a fact- finding mission to Zimbabwe last week said on Saturday they were sceptical of the situation in the once prosperous southern African country.

"There are questions that remain open. These questions relate to law and order," German businessman Andreas Wenzel told the German Press Agency dpa in Harare.

A decade ago, Zimbabwe was Germany's second-biggest trading partner in the region. The country has since spiralled into political and economic chaos, attributed largely to the controversial policies of long-term autocratic president, Robert Mugabe.

Wenzel and other members of the group, representing around 24 companies from various business sectors, said that despite its problems, Zimbabwe offered potential for investment.

The country's newly formed unity government has set out to restore democracy and has appealed for foreign investment.