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THE Industrial Development Corporation (South Africa) says it has identified mining projects in Zimbabwe in which it intends to enter into partnerships or provide loan facilities. “We are specifically looking at gold and platinum projects and we have progressed well on that,” IDC chief economist Mr Lumkile Mondi said on the sidelines of the Confederation and Zimbabwe Industries congress in Bulawayo last week.
“We will be basically looking at two structures, equity financing or direct loan facilities.”
IDC has provided a number of lines of credit to some local banks, including Agribank.
Mr Mondi said IDC, a state-owned financier, was confident about Zimbabwe’s economic prospects.
Mining is the major sector that continues to attract investment and has been the major driver of the economy since the country adopted the multi currency regime.
IDC was established in 1940 as a national development finance institution to promote economic growth and industrial development.
Its main objectives are to contribute to the creation of balanced and sustainable economic growth in South Africa and the continent.
Online Reporter