No financial assistance to Zimbabwe for now, Cyril Ramaphosa says
Ramaphosa says although the matter of possible financial support has been ‘discussed in great detail’, the issue has yet to be finalised
President Cyril Ramaphosa says his government will not provide any immediate financial support to Zimbabwe as discussions on the matter are still ongoing. The move comes as a blow to Zimbabwean President Emmerson Mnangagwa’s administration, which had been counting on its neighbour to provide financial support to boost its faltering economy. The cash-strapped country had a request for R1.2bn turned down by SA in 2018. Zimbabwe is also facing acute shortages of cash, basic commodities and has an unusually high unemployment rate of more than 90%. With virtually no industry left in the once prosperous country, Zimbabweans now have to rely mostly on South African goods. Responding to questions by journalists at the end of the SA-Zimbabwe bi-national commission in Harare, Ramaphosa said although the matter of possible financial support had been “discussed in great detail”, the issue was yet to be finalised. “Even as we deal with difficult issues, we find that we always have solutions to t...
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