Afreximbank Avails US$1,5 Billion To Zimbabwe

Afreximbank president, Prof Benedict Oramah signed a Memorandum of Agreement on the Facility for Investment Promotion for Zimbabwe Open to the value of US$1,5 billion.

The deal was signed this Friday, Afreximbank headquarters in Cairo, Egypt. RBZ, John Mangudya who signed the deal on behalf of Zimbabwe. Speaking to ZBC News Mangudya said:

The US$1,5 billion Afreximbank stabilisation facility to Zimbabwe is expected to mitigate against the perceived risk associated in investing in the country. US$1 billion will be in the form an investment guarantee while US$500 million funds the Transitional Stabilisation Programme (TSP).

More: ZBC

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1 Comment

  1. godfrey chikowore Reply

    certainly a progressive majority like us keeps asking all these resources advanced from variuos instituions, where are they really invested as industries are in a stagnated mode; and are there outcomes and what becomes of the wealth being extracted from the mineral resources available to this nation?

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