Mnangagwa's deals REVEALED: Cash crisis finally coming to an end as China gives Zimbabwe billions of dollars

0

Zimbabwe is expected to witness a positive transformation in strategic sectors following deals that were sealed during the recent visit to China by the President Emmerson Mnangagwa.

Unpacking some of the deals that he clinched with some revived, President Mnangagwa told thousands of people who attended a field day at Helderstrom farm in Chipinge yesterday that the country is set to soon start harnessing the benefits of the visit which unlocked funds for strategic sectors.

President Mnangagwa said the nation received over US$2 billion from China, with $1 billion being meant for reviving the economy while $650 million is meant for building a dam in Manicaland and over $260 million will go towards widening or dualisation of Zimbabwe's major roads, particularly the Beitbridge-Harare-Chirundu Highway and the Beitbridge-Bulawayo-Victoria Falls Highway.

Notable areas of partnership include energy, water resources, road and air infrastructure and a financial package to ease the current liquidity challenges.

“We were in China where we also sealed several deals for this economy,” he said.

The signing of these mega deals between Zimbabwe and China will unlock vast opportunities in the downstream sectors of the economy.

Specifically the realisation of the Kunzvi dam project puts an end to the perennial water challenges that have nagged the capital city for decades.

Outside this, sectors like agriculture, tourism, water resources, recreation and power supply will also harness benefits.

The upgrading and refurbishments of Zimbabwe airports will equally position the country which had adopted the open business approach as a viable portfolio for doing business with travel and tourism being key beneficiaries.

The anticipated revival of the economy will need consistent power supply making the refurbishment of Hwange 7 and 8 generating units critical.

President Mnangagwa’s revelations that a $20 million package will soon be rolled out into the financial services sector reignites confidence among the transacting public banking while pronouncement on the upgrading of several road projects that had stalled over the last 18 years places Zimbabwe which is the corridor to the region in a strategic setting.

– ZBC


Breaking News via Email

Enter your email address to subscribe to our website and receive notifications of Breaking News by email.

Loading...