Govt offered Bailout Package By South African Firm

The Reserve Bank of Zimbabwe (RBZ) has been offered a bailout by a South African-registered firm, African Medallion Group (AMG). The bailout package on offer is meant to assist the government in the procurement of fuel and other imported goods and services. Zimbabwe has been experiencing severe foreign currency shortages which have resulted in the shortage of fuel and other essential imports such as food and pharmaceuticals. In a letter addressed to the RBZ chief, John Mangudya, the company’s chairperson, Estee Maman said

In a bid to be a responsible corporate citizen, we find it incumbent upon ourselves to contribute positively to the on-going economic crisis currently being experienced by the people of Zimbabwe. African Medallion Group is in a position to assist with the procurement and delivery of fuel, cement, cooking oil, pharmaceuticals and other commodities deemed necessary by the government and people of Zimbabwe through a bonded infrastructure.

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