Zim Gets $250m Loam From UK Fund, Minister of Finance Expecting More Funding

 

Minister of Finance and Economic Planning Mthuli Ncube has said that he is expecting more foreign companies to invest in Zimbabwe after the country secured a $250 million loan from United Kingdom-based investment firm, Gemcorp Group. The five-year loan facility will support the importation of essential goods such as electricity. Said Minister Moyo,

The granting of the facility by Gemcorp is a strong signal by foreign investors of their growing confidence in Zimbabwe. I expect more investors to follow suit.

Reserve Bank of Zimbabwe (RBZ) governor John Mangudya added,

(The credit line) is coming at an appropriate time to shore up foreign currency liquidity after the end of the tobacco selling season. This, together with other facilities that we have secured, should go a long way to meet the import requirements for essential products and services for the national economy

More: NewZWire

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2 comments on “Zim Gets $250m Loam From UK Fund, Minister of Finance Expecting More Funding

  1. Well done Mr finance minister. l hope they will not squander it just like what they tried to do on Mr Strive’s money

  2. You guys must also diligently work together to assist industry to access cheap (fair market value) forex for inputs and capex for us to be able to produce. We are a net spending nation that is not producing.

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