Mmegi Online :: Botswana, Zimbabwe agree P1bn credit line
Banners
Banners
Banners
Banners
Last Updated
Wednesday 20 March 2019, 15:58 pm.
Banners
Botswana, Zimbabwe agree P1bn credit line

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.
By Mbongeni Mguni Thu 28 Feb 2019, 18:35 pm (GMT +2)
Mmegi Online :: Botswana, Zimbabwe agree P1bn credit line








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. 

According to various reports, the Agreement was eventually never concluded, as negotiators on both sides failed to find common ground and political will waned with rising tensions as then President,

Banners

Ian Khama clashed with Zimbabwe's former leader, Robert Mugabe. 

Kenewendo said the expanded facility was targeting higher cross border commerce.

“It is a credit line provided by Botswana banks for Botswana companies to access Zimbabwe markets. Zimbabwean companies can also access the line but only if they partner with Botswana companies," she said.

A statement this afternoon on the Botswana Government's official Facebook page said Masisi had confirmed the increase of the credit line to P1 billion.

The president and his delegation, which includes several ministers, was due back in Gaborone this evening.

Subscribe to our Newsletter
Banners
Banners
Banners


Business
Thu 28 Feb 2019, 18:35 pm
Wed 27 Feb 2019, 14:11 pm
Fri 22 Feb 2019, 18:00 pm
Fri 22 Feb 2019, 14:22 pm
Fri 22 Feb 2019, 14:15 pm
Fri 22 Feb 2019, 14:14 pm
Fri 22 Feb 2019, 14:14 pm
Fri 15 Feb 2019, 18:00 pm
Fri 15 Feb 2019, 12:34 pm
Fri 15 Feb 2019, 12:34 pm
Fri 15 Feb 2019, 12:32 pm
Fri 15 Feb 2019, 12:30 pm
Wed 13 Feb 2019, 18:26 pm
Tue 12 Feb 2019, 16:09 pm
Fri 08 Feb 2019, 18:00 pm
Fri 08 Feb 2019, 12:48 pm
Fri 08 Feb 2019, 12:46 pm
Fri 08 Feb 2019, 12:44 pm
Fri 01 Feb 2019, 18:00 pm
Fri 01 Feb 2019, 15:05 pm
Fri 01 Feb 2019, 14:03 pm
Fri 01 Feb 2019, 14:00 pm
Wed 30 Jan 2019, 13:12 pm
Fri 25 Jan 2019, 18:00 pm
Fri 25 Jan 2019, 12:11 pm
Banners
Banners
Subscribe to our Newsletter
have a story? Send us a Tip
Banners
  • Previous
    Wonder Park
    Next
    Masa Centre
    ::: Friday 15 Mar - Thursday 21 Mar :::
    Wonder Park
    Captain Marvel
    A Madea Family Funeral
    What Men Want
  • Previous
    Captain Marvel
    Next
    Riverwalk
    ::: Friday 15 Mar - Thursday 21 Mar :::
    Captain Marvel
    Wonder Park
    A Madea Family Funeral
    What Men Want
  • Previous
    Wonder Park
    Next
    Gamecity
    ::: Friday 15 Mar - Thursday 21 Mar :::
    Wonder Park
    Captain Marvel
    A Madea Family Funeral
    What Men Want
Selefu
Internation Image
Banners
Banners