US Investment Corporation Studying The Political Situation In Zimbabwe Closely

Ray W. Washburne, the President and CEO of the Overseas Private Investment Corporation (OPIC) has said that they are closely monitoring the political situation in Zimbabwe. OPIC currently has $1 billion initiative for various projects in Africa across the next three years. Addressing journalists across Africa via teleconference, Washburne said,

We’re following that very closely. We currently have two projects in Zimbabwe; we have a $20 million commitment to an African mortgage company that provides low-income mortgages, and we also have an insurance project in the healthcare and social assistance area. So the last deal we did – the mortgage company – was in 2016, so we’ve been there recently, but we are studying the political situation there very closely.

Washburne who will be travelling to Zambia, Rwanda, South Africa, Kenya, and Uganda next week where he will visit OPIC projects ranging from transportation, geothermal energy, and agriculture also added,

OPIC seeks to invest in emerging markets that not only have a need for development but which also show great potential. And we are extremely encouraged by the potential Africa is showing: the strong economic growth so many regions are enjoying, the reforms being adopted to improve the business climate, and also the spirit of innovation that is so widely visible.

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