ZIMBABWE has begun compensating foreign investors affected by the 2000 farm expropriations under Bilateral Investment Promotion and Protection Agreements (BIPPAs), signalling a bid to repair strained ties with the West. Speaking to our deputy news editor Tinashe Kairiza (TK), Germany’s Ambassador to Zimbabwe, Christoph Retzlaff (CR), highlighted that with “stability, transparency and predictability,” the country could unlock significant foreign direct investment (FDI). Below are excerpts from the interview:
TK: You were appointed as Germany’s Ambassador to Zimbabwe in 2025. What do you find unique about Zimbabwe, its people, history and culture?
CR: I first visited Zimbabwe briefly in 2023 and was struck by the country’s beauty and the friendliness of its people. That visit planted the idea to return. Since my arrival as Ambassador in late summer 2025, I have had a wonderful experience.
TK: Zimbabwe has many top tourist destinations. Have you had time to travel, and which destination captivated you most?
CR: My favourite trip so far has been to Masvingo at Great Zimbabwe. The ancient stone structures are the oldest in sub-Saharan Africa — simply stunning and impressive.
TK: Zimbabwe is a key trading partner of the European Union (EU). What was the size of trade between Zimbabwe and Germany last year, and what is the target this year?
CR: In 2025, trade between the EU and Zimbabwe was around €900 million, with a positive balance for Zimbabwe. This means Zimbabwe exports more to the EU than it imports. Trade has grown by 30% since 2023, making the EU Zimbabwe’s fourth-largest trading partner globally. EU investment in Zimbabwe has increased by 90% over the same period. Since 2012, Zimbabwe has benefited from duty-free and quota-free access to the markets of all 27 EU member states under the Economic Partnership Agreement. Trade specifically between Germany and Zimbabwe was €175 million in 2024, but there is significant untapped potential. As Europe’s largest economy and the world’s third largest, Germany has much to offer.
TK: What opportunities exist for Zimbabwe and Germany to boost trade and investment?
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CR: In the emerging multipolar international order, Africa has become a gravitational centre. African countries are gaining influence globally, and the shifting geo-economic landscape makes the continent an attractive option for diversifying global supply and production chains. German companies are actively seeking to reduce dependencies on certain partners. This presents unique opportunities for African countries, including Zimbabwe. The upcoming German Africa Business Summit in Accra, Ghana, in October 2026 will be a prime opportunity to connect German business and political interests with African partners.
TK: What is the size of Germany’s investment in Zimbabwe and which economic sectors does it cover?
CR: German investment in Zimbabwe currently stands at €18 million, primarily in horticulture and agriculture. This is only a fraction of what existed 25 years ago when Zimbabwe was a key African partner for German business. There is considerable potential, and strengthening economic ties between Germany and Zimbabwe will be a priority for me.
TK: How much has Germany extended to Zimbabwe over the past decade in aid and grants?
CR: Since 1981, the EU and its member states have supported Zimbabwe, even during challenging periods. Today, the EU remains Zimbabwe’s main development partner, with cooperation totalling nearly €600 million. Germany’s portfolio is currently €9 million, with an annual programme of €4 million, focusing on renewable energy and good governance.
TK: In 2000, Zimbabwe expropriated farms. How many owned by German investors were affected, and have they received compensation?
CR: About 40 German farmers were expropriated. In early 2025, the Government of Zimbabwe began compensation payments under the BIPPAs, marking a milestone in the “Structured Dialogue” between Zimbabwe and international creditors, led by the African Development Bank. The government aims to complete compensation by 2028, a crucial step in restoring investor confidence.
TK: Zimbabwe is experiencing a volatile political and macro-economic environment. How does this impact German investment?
CR: Investors seek stability, transparency, and predictability — these are essential for investment. Interest from German businesses in Africa is steadily growing as companies aim to diversify supply chains. They recognise Africa’s huge potential, with its young, growing population. The African Free Trade Zone will also act as an economic booster once fully implemented. If Zimbabwe provides the right conditions, German investors will come; they are already present in South Africa, Nigeria, and Kenya, among other countries.
