Business
Afreximbank to loan US$1.5B to Zimbabwe
By FurtherAfrica, 12/12/17
Dec 13, 2017 - 9:43:10 AM

The African Export Import Bank (Afreximbank) said they will avail a loan to the tune of $1.5 billion to Zimbabwe to assist with the economic recovery process.

The president and chairman of Afreximbank Okey Oramah visited president Mnangagwa here in Harare. The bank pledged to continue to support Zimbabwe as they have even when the country was persona non grata (or simply unwelcome, got to learn something new) in the west.

The bank did not just avail the $1.5 billion loan but will also provide guarantees to foreign investors coming to the country. The bank realises that there may be still be a negative sentiment in foreign investors because of the history of our beloved country. The guarantees should serve to remove country risk for investors and will likely encourage them to come.