Zimbabwe’s leading construction group, Masimba Holdings Limited has hinged its future on the government’s efforts to engage the international community saying some of the mooted deals will pave way for the resumption of infrastructure projects previously held back by financing constraints.
According to the group chairperson Gregory Sebborn, the board is encouraged by the concerted effort of the Government in improving the ease of doing business, combined with the process of re-engagement with the foreign investment community.
“The Government made significant efforts to engage the international community, giving rise to interest in the country. It is hoped that some of the mooted deals will materialize in the short to medium term.
“Notwithstanding the current operating challenges, the Board remains cautiously optimistic of the outlook. The Board is encouraged by the concerted effort of the Government in improving the ease of doing business, combined with the process of re-engagement with the foreign investment community. This should pave way for the resumption of infrastructure projects previously held back by financing constraints.
“Of major concern is the deteriorating inflationary pressures emanating from an unsustainable budget deficit. Consequently, we urge the Government to expedite the implementation of necessary fiscal reforms critical in restoring local and foreign investor confidence,” he said.
Meanwhile the group’s net working capital for the six months ended June 2018 improved by 29% to US$2,242,928 as compared to US$1,736,379 recorded during the same period last year mainly due to implementation of effective strategies in working capital management.
