Investors to pump US$24m into young Zimbabwean entrepreneur’s business
A young Zimbabwean entrepreneur has spearheaded the acquisition of Cobalt mining companies in the Democratic Republic of Congo by a group of international investors using the off-shore-based Argus Group as the special purpose vehicle to attract capital.
Through Argus Mr Batsirai Joel Matiza has entered into deals that will see him partnering with international companies across the globe and bringing businesses into the country.
The SADC focused Argus has attracted capital to the tune of US$24 million mainly using cryptocurrency but with the use of fiat currency to shield investors from financial shocks.
A Dubai-based investor only identified as Mr Habib, based in Dubai, said the team has been pleased with Argus’s direction to date and looks forward to being welcomed to Zimbabwe in January 2022.
“We are happy to be working with him. He is young but very aggressive. That is what is needed especially in these unpredictable markets. Unfortunately, I am not in a position to disclose the finer details as these are private investments and Mr Matiza is now politically exposed.”
Batsirai who is the son of former Transport Minister Biggie Matiza, has a strong finance background and network, having worked for Goldman Sachs in New York, the largest investment bank in the world, which covers technology, media, and telecommunications companies in their prestigious Investment Banking Division.
It is from this background that Batsirai has managed to establish critical contacts as he has also worked Blackstone Group, the world’s largest Private Equity firm.
He has previously received investment support from associates of the Kingdom Holding Company, a family investment group controlled by Prince Alwaleed Bin Talal, who in 2017 was listed in Forbes as the 7th richest man in the world.
Mr Matiza was not immediately available for comment. The Herald