Zimbabwe's Parks and Wildlife Management Authority is seeking the government's approval for its 460 million U.S. dollars grand investment deal with an American investor for the establishment of a tourist facility in Kariba, The Sunday Mail reported.

The Zimbabwe Attorney-General's Office is believed to be currently evaluating the nature of the transaction. Also, the deal has to be sanctioned by other stakeholders such as the Zimbabwe Investment Center (ZIC), which has already given its blessings.

Significant progress has been made in negotiations with the investor and the deal was certain to come to fruition, the newspaper said.

The authority's finance director Thomas Meke confirmed this development and said that the American investor was prepared to partake in the venture, but the discussions were still sensitive at the moment.

He expressed his optimism that the deal will materialize and go ahead as planned by both parties. It is believed that the venture would mutually benefit both parties that are involved.

Apart from being viable for the national parks, which is currently trying to restore viability and wean itself off the fiscus, it will add to the country's infrastructural development thrust.

There are also various positive spin-offs that are expected when the deal comes into being, as downstream industries are bound to benefit.

The American investor will serve to market the country both in America and in the country's traditional markets in Europe.

Source: Xinhua