Mr. Vengai Madzima, Senior Partner at Madzima Chidyausiku Museta Legal Practitioners (MCM Legal), recently participated in the Zim Diaspora Property Showcase held in the United States. The event aimed to engage Zimbabweans living abroad with opportunities in the property sector back home.
During an interview, Madzima expressed his satisfaction with the outcome of the showcase, indicating a strong turnout from the diaspora community. He highlighted the significant interest in investing in Zimbabwe, with attendees traveling from states as far as Washington DC and New York, as well as international participants from the United Kingdom.
Madzima noted the enthusiasm displayed by the Zimbabwean diaspora towards real estate investment, acknowledging the physical distance and cost of travel as barriers that hinder their ability to return home frequently. This geographical separation compounds the reliance on social media for information related to investment opportunities.
A particularly significant observation made by Madzima was the impact of negative experiences shared among diaspora members. Such accounts often shape the investment mindset of the community, causing potential investors to approach opportunities with caution. However, he cautioned that many of these experiences may omit critical details regarding the involvement of diaspora investors and the importance of engaging local professionals in Zimbabwe to conduct thorough due diligence before investing.
Despite these concerns, Madzima believes that the appetite for investment exists within the community and is ripe for exploration. The knowledge transfer and exchange of ideas have the potential to strengthen ties between Zimbabweans abroad and their homeland.
Madzima further elaborated on the benefits of the showcase for attendees. Participants were privy to insightful presentations led by industry leaders, including Lawrence Nyazema, the CEO of CBZ Holdings, and Tendai Muzadzi of Datvest Asset Management. These discussions proved enlightening, not only for attendees but also for Madzima himself, who found value in the diverse perspectives shared during the event.
He emphasized the significance of the exhibitors at the showcase, which featured leading developers and construction companies ready to address various aspects of property investment. Notable names included Borrowdale Valley Estate, West Prop, and Masimba Holdings, among others. The presence of these companies fostered an interactive environment where potential investors could ask questions and gain clarity on various issues related to property development and investment.
The one-stop-shop concept of the showcase allowed attendees to interact directly with representatives from different sectors, creating a comprehensive experience that facilitated informed decision-making. Various regions of concern for the diaspora, including asset management solutions, were also addressed, demonstrating a holistic approach to investment in Zimbabwe.
However, Madzima did identify a notable shortcoming of the event. He felt that the organizers underestimated the level of interest and the geographical distance separating attendees from various states. This limitation meant that the full range of opportunities available for the diaspora market was not showcased. He suggested that future events could benefit from being held in strategic locations across the United States and Canada to reach a wider audience effectively.
In conclusion, Mr. Vengai Madzima’s insights shed light on the dynamic relationship between Zimbabweans living abroad and potential investment opportunities in their home country. Despite the challenges posed by distance and communication barriers, the enthusiasm to invest in Zimbabwe remains strong among the diaspora community. Acknowledging past mistakes while emphasizing the importance of engagement with local professionals could ultimately help to unlock the investment potential and foster growth within Zimbabwe’s property market.
image source from：https://www.newzimbabwe.com/legal-discussions-with-vengai-madzima-zim-diaspora-property-showcase-in-dallas-usa/
