“We are expecting another funding soon. We want people to access their deposits in the banks at any time they want to use it. We heard they are giving $30 or $50 no, no we have injected some money we want to see some improvements,” said Mnangagwa.
PRESIDENT Emmerson Mnangagwa said Zimbabwe`s relationship with Britain has improved significantly since his inauguration in November last year, adding “the country is now on good talking terms with UK”.
Addressing party supporters at a rally held at Sakubva stadium in Mutare Saturday, Mnangagwa said the country`s economy is poised for major transformation following a $100 million fund which was recently injected by Britain with the assistance of the Standard Chartered Bank to help capacitate local companies and ease liquidity crunch.
Zimbabwe’s relationship with the British government went bad towards 2000 over former President Robert Mugabe’s policies something which was made worse by the fast track land reform programme.
Britain accused Harare of human rights violations during the land grab exercise.
“Our hospitals were facing acute shortage of drugs due to foreign currency scarcity but surprisingly when we did our inauguration in November British Prime Minister sent her envoy within an hour to see me. I told the envoy that I did not have a proper cabinet so I requested for a meeting later. So far she has sent two envoys. We are now on good talking terms with the British,” said Mnangagwa.
The president said the $100 million fund from Britain is expected to ease the cash crunch which has seen most banks failing to disburse money to their clients.
“We are expecting another funding soon. We want people to access their deposits in the banks at any time they want to use it. We heard they are giving $30 or $50 no, no we have injected some money we want to see some improvements,” he said.
Mnangagwa said Zimbabwe at the moment cannot print foreign currency but time shall come when the country will have its currency backed by assets.
“Time shall come when we will have our currency backed by assets we are raising for now. If we reach that stage then we will be able to print enough money to match the economy of our country. We will reach that stage,” said Mnangagwa.
He also said government signed a three year agreement which will see the country producing coal bed methane which produces diesel, petrol, fertilisers and other chemicals from coal in Hwange and Luthuli in Matabeleland North.
“After three years, we should be able to produce eight million litres of fuel per day. Currently the country consumes five million a day. So if we reach that stage, we will have surplus of three million litres per day,” said Mnangagwa.