Botswana, Zimbabwe agree P1bn credit line

Thursday, February 28, 2019

President Mokgweetsi Masisi and his Zimbabwean counterpart, Emmerson Mnangagwa, this afternoon sealed an agreement establishing a P1 billion line of credit for businesses in both countries.

Investment, Trade and Industry minister, Bogolo Kenewendo told Mmegi this evening that the new deal was an expansion of a P500 million dating back to 2009.

The 2009 deal would have seen funding at discounted rates provided by Botswana banks with guarantees provided by Botswana. Zimbabwe was required to provide political, contract and safety guarantees under a Bilateral Investment Promotion and Protection Agreement.

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