Zimbabwe to Receive $1.5 Billion from Afreximbank

Afreximbank is set to inject $1.5 billion financial support for the new government. The African Export-Import Bank (Afreximbank) has previously backed up the bonds notes introduced in 2016.

The agreement came after President Emmerson Mnangagwa met with Dr Okey Oramah, the Afreximbank board chairperson and President, at the Munhumutapa offices on Tuesday.

Finance minister Patrick Chinamasa also said that Afreximbank was going to provide investment guarantees on behalf of Zimbabwe, to any foreign investors who are willing to invest their money in the country.

The money is meant to support Zimbabwe in gaining economic stability. The country has suffered cash shortages for over the past year.