Managing director Scott MacMillan tells Petroleum Economist about how the once-pariah African state is changing for the better
Zimbabwe’s investment environment has improved significantly in recent years, says Scott MacMillan, managing director of ASX-listed Invictus Energy, which is seeking to develop gas fields in the country.
MacMillan credits a combination of “macro… and industry-specific reforms” for the change. The country is keen to attract foreign investment, but the authorities are aware companies will not invest while a risk remains of seizure or forfeiture.
The reforms are “not just lip service”, MacMillan says, citing the government’s decision to rescind the indigenisation law, which mandated at least 51pc local ownership of projects and was a “non-starter” for foreign investors. Now 100pc foreign owner
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