Zimbabwe Has Little to Show for $27 Billion Investment
- Mnangagwa, state press have announced platinum, steel deals
- Economy in its worst state since 2008 hyperinflation episode
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When Emmerson Mnangagwa took over the leadership of Zimbabwe from Robert Mugabe in November 2017, he promised to revive the moribund economy and adopted a mantra he’s repeated regularly ever since -- “Zimbabwe is open for business.”
Mnangagwa, always wearing a scarf in the colors of the Zimbabwean flag, quickly set about traversing the globe to woo investment needed to revive the heavily indebted economy. By March, he’d been on at least 30 foreign visits, including trips to the U.S., Russia, China, the Middle East and the World Economic Forum in Davos.