African Medallion Group owned by South African based Zimbabwean businessman Mr Frank Buyanga will avail a 500 million rand facility for the procurement and delivery of fuel, pharmaceuticals, cement, cooking oil and other commodities through a bonded infrastructure.
AMG chairperson Ms Estee Mamman wrote to RBZ Governor John Mangudya requesting for assistance with the procurement. In response, Mangudya advised AMG to directly approach the importers of the proposed commodities. Mamman said they will immediately begin to engage Zimbabwean entities. She said this is a non-profit making initiative. Said Mamman:
African Medallion Group will proceed to contact the relevant authorities in Zimbabwe to obtain the necessary approval, import permits and other documentation deemed necessary for the procurement and delivery of fuel, pharmaceuticals, cement, cooking oil and other commodities through a bonded infrastructure. African Medallion Group will avail a ZAR500 million facility to the African Medallion (Pvt) Ltd Zimbabwe entity for the inward procurement of all commodities. The facility will be redeemable in free funds.
Frank Buyanga is a businessman who has been rated as one of the youngest millionaires in South Africa. He has claimed that he doesn't know exactly how many cars and businesses he owns. Read More About Frank Buyanga
John Panonetsa Mangudya is an economist and the current Reserve Bank of Zimbabwe governor. Mangudya, who sits on many local and international boards .He was made RBZ governor after the expiry of Gideon Gono's term in 2014. He had been CBZ Holdings Ltd Chief Executive... Read More About John Mangudya
The Reserve Bank of Zimbabwe (RBZ) is the central bank of Zimbabwe. Its offices are located at number 80 Samora Machel Avenue in Harare. The Reserve Bank of Zimbabwe operates under the Reserve Bank of Zimbabwe Act, Chapter 22: 15 of 1964. The Act provides... Read More About RBZ