Africa-Press – Zimbabwe. GOVERNMENT has called on financial institutions to partner local businesses, particularly in the green economy, arguing that the country’s natural resources present lucrative investment opportunities currently overlooked.
This challenge from the Environment, Climate and Wildlife ministry comes at a time when banks are reluctant to lend to small and medium enterprises.
This reluctance is attributed to high-interest rates, a lack of borrower collateral and a perceived high-risk environment exacerbated by economic instability, cash flow problems and power shortages.
Addressing delegates in the capital, Environment minister Evelyn Ndlovu indicated that financial institutions are missing out on viable sectors that can drive their businesses.
“I am challenging the banks again… we have sectors that can drive your business,” she said.
“We have the forests; they can drive your business.
“We have the climate in the wetlands; it can drive your business.”
Ndlovu highlighted specific areas where investment can yield significant returns, including wildlife development and the national parks system.
“We generate a lot of revenue for the country from those parks. Why not partner our parks?”
She lamented that international organisations are showing keen interest in Zimbabwe’s local resources and businesses than domestic financial institutions.
“We see people from outside the country coming to partner our digital parks, but our financial institutions say, ‘this is too risky, we cannot touch it’,” the minister said.
“I think you are making a big mistake in terms of business planning and being aggressive to get money from where you invest.”
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