Investors are holding on to their Zimbabwe investments pending the outcome of the country’s presidential election run-off which has been scheduled for July 31.

The New Five Hundred Million Bearer Cheque

“Yes, the Zimbabwe Investment Authority has been busy looking for investments from willing partners and I can confirm that the organization has approved over 100 projects and most of these are in the mining sector,” said the official who refused to be named.

He showed The Zimbabwe Gazette a document detailing some of the approved projects and the document also shows that the greater chunk of the investments are coming from investors from the Asian region.

China and India are the two countries with the greatest number of approved projects as the two investment giants share about half of the approved projects between themselves.

While there have been a lot of investments secured by ZIA, sources at the investment body said the investors had not embarked on any meaningful progress.

“We are now concerned that there is not much progress that is being made at these projects which we have approved as the investors are awaiting the outcome of the presidential election run-off.”

With the odds heavily staked against President Robert Mugabe who stands accused of running down Zimbabwe’s economy, analysts and civic society groups have backed and tipped Morgan Tsvangirai to route Mugabe for the second time.

Zimbabwe, currently plagued by the spectre of political violence in the after-math of the March harmonised elections, is currently in its eighth year of economic stagnation.

Economic analysts say a quick respite to the country’s myriad of economic problems could be brokered should Mugabe step aside but the 84 year-old veteran of Zimbabwe’s liberation war denies charges of mismanaging the country’s economy.

He says the opposition is in an alliance with Western nations to taint him and his Zanu PF party as high level violators of human rights. He also says western nations have imposed ‘illegal” sanctions against the country’s government officials as a way of fanning a “regime change agenda”.

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