Botswana to approve US$76 million Zim line of credit

The acting president of the Botswana Confederation of Commerce, Industry and Manpower Mr Thuli Johnson said the Botswana Parliament would approve the loan by December.

“Besides the bilateral protection agreement on investments, our parliament is going to approve the guarantee in the current sitting,” said Mr Johnson.

Confederation of Zimbabwe Industries President Mr Joseph Kanyekanye affirmed this after getting Government assurances.

“We have had a successful meeting with the Botswana Minister of Trade and Industry and she has assured us that the funds are now available,” he said.

The CZI president was in Botswana over the weekend to tie up loose ends regarding the loan facility sought to fund revival of local industrial capacity.

“What we have to do now is to a sign bilateral protection agreement on investment,” he said.
Zimbabwe and Botswana are working on a Bilateral Investment Protection and Promotion Agreement, which should strengthen economic and trade ties between the neighbouring Southern African countries.