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President Mnangagwa on Thursday successfully negotiated a fresh financial package for Zimbabwe from the African Export-Import Bank (Afreximbank) when he met the bank’s chairperson, Professor Benedict Okey Oramah in Japan.
The President and Prof Oramah met on the sidelines of the Tokyo International Conference on African Development (TICAD) summit. Speaking to Zimbabwean journalists soon after the meeting with President Mnangagwa, Prof Oramah said Afreximbank had agreed in principle to provide Zimbabwe with a financial injection for emergency food imports as well as a separate kitty for infrastructure development.
Prof Oramah said the bank will work on the details once Zimbabwe presents its actual requirements. “We have a product that we call the food emergency contingency financial facility which we make available to African countries to enable them to manage weather uncertainties. This is the product that Zimbabwe will benefit from,” said Prof Oramah.
He said in addition to food imports and infrastructure development, the bank will also avail another kitty to support Zimbabwe’s industries. Prof Oramah said President Mnangagwa asked the bank to assist the manufacturing industries as part of measures to grow the country’s industries.
He said after the meeting with President Mnangagwa, follow up engagements will be made with Finance and Economic Development Minister Prof Mthuli Ncube and Reserve Bank of Zimbabwe Governor, Dr John Mangudya. Afreximbank’s fresh financial package is one of the many positives that President Mnangagwa and his delegation registered at the TICAD.
On Wednesday President Mnangagwa unpacked Zimbabwe’s economic reform agenda emphasising that the country was working on comprehensive economic reforms meant to make the country a safe investment destination.
On the same day Zimbabwe’s trade promotion and development agency ZimTrade, signed a memorandum of understanding with the Japan External Trade Organisation (JETRO) aimed at strengthening co-operation and collaboration between the two parties. A number of investors have already responded to the “Zimbabwe is open for business mantra” and we expect more after TICAD.
It is unfortunate that at a time when Zimbabwe was afforded an opportunity to market itself as an investment destination of choice, the opposition MDC Alliance was attempting to spoil the broth by organising demonstrations which, fortunately, failed dismally.
We want at this juncture to salute Zimbabweans for sending a very strong message that they will never allow MDC Alliance to use them as pawns to achieve its objective to destabilise the country.
Online Reporter