Afreximbank to inject US$1bn into Zimbabwean economy

Afreximbank is planning to inject US$1 billion into Zimbabwe, targeting both public and private sectors for economic growth.

The announcement was made after Mnangagwa’s meeting with Afreximbank president, Prof. Benedict Oramah, at COP29 in Baku, Azerbaijan.

According to the Zimbabwe Economic Review, key focus areas include: -Trade facilitation- Industrial parks- Railway development- Cotton value addition

Past Support: Over US$2 billion already invested in Zimbabwe by Afreximbank.

Future Developments:
-Industrial park for textile sector via the Fund for Export Development in Africa.

-Testing and inspection certification centre in Zimbabwe, similar to facilities in other African countries.

-Support for the African Continental Free Trade Area Agreement.

Africa Trade Centre:
Construction underway in Harare, expected to be completed by mid-next year, enhancing regional trade capabilities.

Zwnews