Govt Pushes Investor To Take Money To South Africa
An investor (DIDG) who intended to inject US$400 million into the National Railways of Zimbabwe’s (NRZ) recapitalisation has turned to South Africa after the government of Zimbabwe torpedoed the deal.
The Diaspora Infrastructure Development Group (DIDG) and related companies have rolled out infrastructure projects totalling US$350 million in KwaZulu-Natal, South Africa.
According to The Independent, the the province of KwaZulu-Natal authorised Nyanza Light Metals and DIDG to set up a US$263 million (R4 billion) titanium dioxide pigment plant in Richards Bay. Part of the correspondence reads:
The KwaZulu-Natal Department of Economic Development, Tourism and Environmental Affairs has authorised the above-mentioned project.
By virtue of the powers conferred on it by the National Environmental Management Act and the Environmental Impact Assessment Regulations, the KwaZulu Department of Economic Development, Tourism and Environmental Affairs grants environmental authorisation to Nyanza Light Metals to undertake the following activities …
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Back in 2017, DIDG was awarded the multi-million dollar tender by the government to revive the NRZ but the deal collapsed after Transport minister Joel Biggie Matiza’s intervention.