Former Harare mayor Bernard Manyenyeni on Wednesday advised his successor, mayor Herbert Gomba to be wary of deals the City Fathers enter into with the Chinese.
Manyenyeni was responding reports that that Harare City Council was failing to access more funds from China because of failure to service a US$72 million debt from US$144 loan extended by the China Exim-Bank. Said Manyenyeni:
We should always be aware of what has been happening around us. We hear that one of Kenya’s Ports was taken by the Chinese and Zambia has lost quite a lot already.
We should be concerned by statements by the Mayor (Gomba) that we are now failing to access the remaining $72 million of the initial loan because we are failing to repay the loan which was given to us by the Chinese.
It is necessary that we make deals which are manageable, which our children will be able to pay back and will not mortgage the country.
Meanwhile, Finance Minister Mthuli Ncube told NewZimbabwe.com the government could not track every deal struck by councils they were sure that those signed were beneficial to the cities.
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Bernard (Ben) Manyenyeni, the former Mayor of Harare, is a Zimbabwean business executive, politician and MDC-T member. As a businessman, his career spans over 25 years in the financial services sector, largely managing group pension funds. He was the Mayor of Harare from 2013 to... Read More About Bernard Manyenyeni
Herbert Gomba is the Mayor of Harare, prior to being Mayor Gomba was councilor of Glen Norah for ten years. Herbert is a member of the MDC Alliance..Gomba was sworn in as the Mayor of Harare on the 3 of September 2018..Gomba took over the... Read More About Herbert Gomba
Professor Mthuli Ncube is the Minister of Finance and Economic Development.He was the Chief Economist and Vice President of the African Development Bank ,financial, economics, investment, and public policy expert, entrepreneur and academic. Professor Ncube divides his time between the private sector in Switzerland and... Read More About Mthuli Ncube