South African President Cyril Ramaphosa, when speaking at a meeting of the Bi-National Commission (BNC) in Harare yesterday, announced plans to aid Zimbabwe through loans and further financial help.
He said the SA Reserve Bank was working to help the Reserve Bank of Zimbabwe secure as much as $7 million.
According to what officials told Business Report, South Africa was eager to invest in Zimbabwe but had to face limitations such as policy uncertainties.
The two counties manage their ties through the BNC, which was first established in 2015. As Business Report states, South African companies that operate in Zimbabwe rely on their parent units for financial aid.
Following the meeting, a joint communiqué was released saying South African financiers would need guarantees to forward funds to Zimbabwean banks.
Zimbabwean President Emmerson Mnangagwa said his country would ensure South African investors feel secure about their investments.
Zimbabwe Dollar falls to record low ahead of currency announcement
The Zimbabwean currency has fallen to another all-time low as residents sought refuge in the stability of the US dollar amid speculation the central bank is on the verge of making an announcement regarding the future of the local currency.
posted on 03.04.2024
RBZ urges govt incentives on diaspora investments
Zimbabwe’s central bank, the Reserve Bank of Zimbabwe (RBZ), called on the government on Monday to provide fiscal and non-fiscal incentives to diaspora investments due to their massive contribution to total foreign currency inflows in the country.
posted on 05.12.2023
Zimbabwe Dollar falls to record low ahead of currency announcement
The Zimbabwean currency has fallen to another all-time low as residents sought refuge in the stability of the US dollar amid speculation the central bank is on the verge of making an announcement regarding the future of the local currency.
posted on 03.04.2024
RBZ urges govt incentives on diaspora investments
Zimbabwe’s central bank, the Reserve Bank of Zimbabwe (RBZ), called on the government on Monday to provide fiscal and non-fiscal incentives to diaspora investments due to their massive contribution to total foreign currency inflows in the country.
posted on 05.12.2023
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