Zimbabwe and Russia sign trade deals
The scramble for Zimbabwe’s vast but largely untapped minerals intensified this week with Russian clinching lucrative deals that analysts fear would see President Robert Mugabe’s broke government mortgaging the resources.
The southern African country is in dire need of foreign direct investment as investors have stayed away for the past decade citing Mugabe’s alleged misrule.
On Saturday, Russian Industry and Trade Minister Denis Manturov and a business delegation including executives from Russian energy giant Gazprom and Renova Group of Companies, a diversified company with interests in cross-cutting sectors flew to Harare to seal some of the deals.
The two countries concluded trade deals which officials said will also see the establishment of a business council between the two countries.
Read the original article on Theafricareport.com : Zimbabwe and Russia sign trade deals | The Africa Report.com
Follow us: @theafricareport on Twitter