How a country is perceived by foreign investors is becoming increasingly significant to the ability of individual countries to attract foreign direct investment into their economies. In Africa, existing negative perceptions of the continent as an investment destination have been considered as an obstacle for foreign direct investment inflows to the continent in general. Although Zimbabwe offers foreign investors multiple lucrative investment opportunities, attracting foreign direct investment to the country presents a unique challenge due to the image of the country post the 1998-2008 economic crisis. Despite the vast research on the determinants of foreign direct inflows to particular countries, little is known about whether non-financial image-related factors influence the inflow of foreign direct investment to a particular country, especially a country with a unfavourable global image like Zimbabwe. The primary objective of this study was therefore to determine the perceived non-financial nation brand image factors considered to be influential for attracting specific foreign direct investment inflow opportunities in Zimbabwe. A comprehensive literature review resulted in the identification of nine independent variables (tourism, governance, people, culture and heritage, exports, investment and immigration, factor endowments, infrastructure, and legal and regulation frameworks), as well as four dependent variables (market-, resource-, efficiency- and strategic asset-seeking foreign direct investment inflow opportunities in Zimbabwe). A hypothesised model was developed in order to examine whether the independent variables have an influence on the dependent variables, and as a result nine hypotheses were formulated to test the relationships between the nine independent variables and each of the four dependent variables. A cross-sectional, quantitative deductive approach to research was employed in order to generate the data required for hypothesis testing. Purposive sampling techniques were employed to draw the sample frame for the study. A self-administered online survey was conducted, and generated empirical data from a final sample comprised of 305 investors who had applied to invest in Zimbabwe through the Zimbabwe Investment Authority between January 2009 and April 2015. Data was analysed using STATISTICA 12 software. Exploratory factor analysis was utilised to extract the constructs and validate the measuring instrument. Cronbach’s alpha coefficients were calculated in order to test the reliability and internal consistency of the measuring instrument. As a result, a total of six valid and reliable independent variables, and four dependent variables were retained for further analysis. The results of the Pearson product-moment correlation coefficients revealed mostly moderate correlations. The Multi-Collinearity diagnostics test confirmed the absence of collinearity between the independent variables and dependent variables respectively. Subsequently, the results of the four sets of multiple regression analyses, disclosed thirteen statistically significant relationships between the six independent variables and the four categorical dependent variables. Tourism had significant relationships with market-, efficiency- and strategic asset-seeking FDI inflow opportunities. Government actions had significant relationships with resource- and strategic asset-seeking FDI inflow opportunities. People had significant relationships with resource- and efficiency- seeking FDI inflow opportunities. Export had significant relationships with market-, resource-, efficiency- and strategic asset-seeking FDI inflow opportunities. Regulatory framework had significant relationships with market- and resource-seeking FDI inflow opportunities. The results of the Analysis of Variance revealed that investor status can be used to predict which non-financial nation brand image determinants played a role in the ultimate decision for taking up foreign direct investment opportunities in Zimbabwe. Further analysis of the role that the demographic profiles of the investors played in predicting which non-financial nation brand image determinants are considered influential in taking up foreign direct investment opportunities in Zimbabwe was confirmed in the Multivariate Analysis of Variance with thirty-four statically significant relationships identified. Further analysis by means of post-hoc Scheffé testing and Cohen’s d-values calculations confirm that thirty-nine practically significant mean differences were evident. This study makes a novel contribution to the empirical body of nation branding, foreign direct investment and investment promotion research by developing and testing a hypothetical model that synthesises facets of the three fields of study. This study represents a new discourse in the identification of the determinants of FDI (that being non-financial determinants) and provides an explanatory framework for the non-financial nation brand image determinants influencing each type of FDI inflow opportunity sought in Zimbabwe. It is within this framework that recommendations, based on empirical evidence, are made for the Government of Zimbabwe and the Zimbabwe Investment Authority. Some of these recommendations could be implemented within the short-term, while others may be more strategic in the long term. Recommendations made include that the Government of Zimbabwe undertakes significant policy reviews, continues its engagement with key external stakeholders such as other governments, supra-national financial institutions, and foreign investors, as well as adhering to existing favourable FDI policies. It is also recommended that the Zimbabwe Investment Authority adopt an intermediary role, by linking the Government of Zimbabwe with potential foreign investors through investor targeting, as well as promoting Zimbabwe as an investment destination by engaging in image-building activities such as public diplomacy, investor relations, specialised advertising and hosting investor forums with multiple, distinct investor segments. These image-building activities should be centered on the non-financial nation brand image determinants that foreign investors consider to be influential to foreign direct investment in Zimbabwe, and should be geared towards improving and managing the perceived image of Zimbabwe as an investment destination.

A dissertation submitted to the Faculty of Humanities, School of Social Sciences, University of the Witwatersrand, in fulfilment of the requirements for the degree of Master of International Relations Department of International Relations, University of the Witwatersrand, Johannesburg, South Africa / Although contemporary analysis of foreign policy now incorporate diverse issues originating from diverse subject areas, it has neglected the issue of change in foreign policy in favour of foreign policy continuity. This paper investigates the subtle changes that China has instituted in its foreign policy towards Africa. It argues that, these subtle foreign policy changes, although beneficial to China, have inherent negative implications on African states and signifies a manifestation of an active, assertive and confrontational Chinese foreign policy in future. In this investigation, China through the implementation of its moralistic five principles of peaceful development, the open door policy and its strategy of instituting policies that target states that it seeks to do business with, has managed to attract and solicit partnership from most African states. Sub-national institutions like the Forum on China Africa Cooperation, the Chinese military, think tanks, Exim Bank and individual Chinese provinces have been tasked to carry out and implement China’s Africa foreign policy. The FOCAC meetings have emerged to be the most important platform through which the notion of change and the main objectives of China’s Africa policy are expressed. There, exists numerous models which can be used to analyse foreign policy change but the paper adopts Eidenfalk’s extent of foreign policy change model to analyse the various issues, both domestic and international, that influence changes in foreign policy. For China, international more than domestic factors wield greater influence on foreign policy. As a result three strands of foreign policy change can be identified in China’s Africa policy i.e. from single aid to aid provided on a win-win basis, from ideological focus during the colonial period to pragmatic considerations and from non-interference to active engagement on the continent. Given the close relationship that had formed between China and most African states, changes identified above, will have negative political and economic consequences for African states. For instance, African states will no longer enjoy Beijing’s cushion against UN sanctions, weakening of African economies and identity crisis are all possible consequences of China’s evolving policy. Zimbabwe is dependent both economically and politically on China. It would follow that any form of change in China’s foreign policy will leave Zimbabwe exposed to the above effects. / MT2017