Published: 22 June 2015

Ten mergers have been approved so far by the Competition and Tariff Commission (CTC) amid indications that more local companies would seek foreign partners to strengthen balance sheets.

CTC assistant director Benjamin Chinhengo said that more mergers were recorded since the beginning of the year compared to seven recorded in 2014.

Chinhengo said most of the companies that merged this year were engaging with foreign partners, a move he said would also boost foreign direct investment (FDI) inflows into the country.

Zimbabwe has been failing to attract significant FDI inflows since 2009 and has not exceeded $500 million in a single year.

- the Standard

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