Articles tagged 'afreximbank'

AfDB confirms $500m Zim loan 20 October 2018 HARARE - The Reserve Bank of Zimbabwe is set to receive a $500 million loan from the African Export-Import Bank (Afreximbank), a move meant to arrest the sliding official foreign currency reserves and provide much-needed breathing space to the new government. This comes as Zimbabwe is in the t...
'Currency woes to linger' 8 October 2018 HARARE – Zimbabwe's currency woes will linger as long as its awkward monetary system remains, a research think-tank BMI has said. The country's cash system is currently made up of a concoction of currencies, which includes the bond notes, a pseudo currency said to be backed by an Afreximbank f...
'Please don't steal $1,5 billion Afrexim loan' 14 December 2017 HARARE - The African Export-Import Bank (Afreximbank)’s pledge to inject$1, 5 billion into Zimbabwe  will help boost the economy if put to good use, but falls short of the actual amounts needed to turn around the economy, analysts said yesterday. Afrexim bank president and chairman Okey Oramah...
Stabilisation package can be a game-changer 14 December 2017 HARARE – African Export-Import Bank (Afreximbank)’s announcement on Tuesday of a $1,5 billion economic stabilisation package for Zimbabwe can be a game changer for President Emmerson Mnangagwa’s new government. President Emmerson Mnangagwa Afreximbank said they are to support the stabil...
Afreximbank to construct multi-million dollar complex 14 December 2017 HARARE - The African Export-Import Bank (Afreximbank) said it is seeking to engage a consulting firm to carry out a feasibility study on the construction of a multi-million dollar complex in Zimbabwe's capital city. Afreximbank will build a permanent regional office for southern Africa in Hara...
'Zim lacks shareholder activism' 2 December 2017 HARARE – African Export-Import Bank (Afreximbank) executive vice president, Denys Denya, says the collapse of many companies in Zimbabwe was partially caused by absence of active shareholders. “The apathy of Zimbabwean shareholders and those in most other countries across the African continent...
Stanchart Plc awaits British govt nod for Mugabe bailout 8 December 2016 HARARE - Standard Chartered Bank, a British multinational banking and financial services group, has said it is waiting for approval by the British government to give the autocratic Zanu PF government a $262 million bailout loan. The British domiciled bank confirmed it had been asked by regiona...
Parly invites public input on bond notes 24 November 2016 HARARE - A parliamentary panel yesterday sought public comments on a draft bill which seeks to legalise bond notes. The views of stakeholders are being sought by November 30 on the Reserve Bank of Zimbabwe (RBZ) Amendment Bill, currently being scrutinised by a parliamentary committee. “...t...
Zim to get $1bn Afreximbank loan 8 July 2016 HARARE - Zimbabwe is set to secure close to $1 billion in loans from the African Export-Import Bank (Afreximbank) aimed at clearing the country's $1,8 billion arrears to multilateral institutions, the central bank governor has said. Reserve Bank of Zimbabwe governor John Mangudya told the medi...
Zim secures $200m for maize 22 January 2016 HARARE - Zimbabwe has secured a $200 million loan facility from the Afreximbank for maize imports to avert hunger, central bank governor has said. Reserve Bank of Zimbabwe (RBZ) governor John Mangudya yesterday told journalists in the capital that the loan would see the country starting import...
Zesa, Afreximbank in $100m deal 5 December 2013 HARARE - Zesa Holdings (Zesa) has tentatively agreed to a $100 million financing deal with the African Export and Import Bank (Afreximbank) for its prepaid meter-expansion project, businessdaily can reveal. This comes amid growing concern about prolonged power outages and the utility's inabili...
Afreximbank increases lending to Zim 10 December 2012 HARARE - The African Export and Import Bank (Afreximbank) says it will increase its lending capacity to Zimbabwe to $800 million as part of efforts to enhance economic growth of the southern African country. Jean-Louis Ekra, Afreximbank president, last week said the continental bank will continue...