Finance and Economic Development Minister Mthuli Ncube was in South Africa this week where he was trying to persuade private investors from that country to inject funds into Zimbabwe.
In an interview with Business Day, Minister Ncube said that he was negotiating loan facilities to recapitalise local companies. Said Ncube:
The idea is to give capacity to our companies to source equipment from South African companies using resources from there. That is the nature of the loans we are negotiating.
So I had gone to drum up support for that and we will be updated as we go along, in regards to that. We are targeting companies that have relationships with SA companies, in terms of procurement of imports and exports.
Zimbabwe was politely denied a bailout by the South African government just a fortnight ago when the country’s President Cyril Ramaphosa and his team visited for Bi-National.