JUST IN: Zim, Afrixembank sign US$1.5b stabilisation facility
Sydney Kawadza in Cairo, Egypt
The Afreximbank has availed a US$1.5b stabilisation facility to Zimbabwe which is expected to mitigate against the perceived risk associated in investing in the country.
The facility, known as the Zimbabwe Open Facility was signed today by Reserve Bank of Zimbabwe Governor Dr John Mangudya and Afrixembank President Professor Benedict Okay Oramah on the sidelines of the on-going Intra African Trade Fair here in Cairo, Egypt.
Industry and Commerce Minister Mangaliso Mdlovu, senior Government officials, banking executive from Zimbabwe and the Afrixembank witnessed the signing ceremony at the Egypt International Exhibition Centre.
The facility will include the US$500m Nostro Stabilisation Facility and US$1b investment guarantee facility.
In his remarks, Dr Mangudya said the Zimbabwe was open for business and to investors with the facility giving assurances and re-assurances to the investors that they can bring their money into Zimbabwe.
More to follow…
You Might Also Like
-
Fungi Kwaramba in MURAMBINDA ZIMBABWE will draw from its heroic past, human capital and mineral resources to confront and triumph against any form of adversity, including sustained attempts to weaken the country’s currency and drive up inflation, President Mnangagwa has said. Addressing thousands of people who attended yesterday’s Independence Day celebrations in Murambinda, the President […]
Agriculture Journal
Comments