The Army Comes To Zimbabwe's Rescue

4 years ago
Wed, 22 May 2019 23:18:47 GMT
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The Army Comes To Zimbabwe's Rescue

Reports suggest that the Zimbabwe National Army has provided the collateral for the African Export-Import Bank’s $500 million loan that was advanced to Zimbabwe recently.

The loan is said to be backed by a mine that Great Dyke Investments plans to build at a cost of $4 billion. Great Dyke Investments is a venture between Russian investors and the Zimbabwean military. The loan shall be paid over a period of four years.

It is also reported that the deal was designed earlier this month at a meeting attended by officials from Zimbabwe’s treasury, the central bank, mines ministry, Afreximbank, and Great Dyke Investments chairperson, Hespinah Rukato.

More: Bulawayo24

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