Zimbabwe Took US$1.4b From Afreximbank

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THE Reserve Bank of Zimbabwe (RBZ) has taken a total of USS1.4 billion from African Export-Import Bank (Afreximbank) between December 2017 and December 2019 with the government acting as sponsor, Finance Minister Mthuli Ncube has revealed.

In general notices released through the Government Gazette Saturday, February 13, Ncube stated that the first loan accord of USS600 million in which the Government of Zimbabwe was backer was inked on December 27, 2017 “for the purchase of strategic commodities”.

Ncube did not though reveal the nature of the planned commodities.