Zimbabwe’s finance minister in new attempt to get loans from SA
Mthuli Ncube seeks funding from South African companies for Zimbabwean firms to buy locally sourced equipment
Fresh from being politely denied a bailout by SA’s government just a fortnight ago, Zimbabwean finance minister Mthuli Ncube said he had approached private investors in SA to inject funds into his country's cash-starved economy. Ncube was in SA this week and met private investors in Johannesburg. Speaking after a cabinet briefing in Harare on Wednesday, Ncube confirmed that he presented “the begging bowl” to SA investors during his visit on Monday and Tuesday. He told Business Day that Zimbabwe was negotiating loan facilities to recapitalise companies. He had targeted companies with existing ties to Zimbabwean firms. “The idea is to give capacity to our companies to source equipment from South African companies using resources from there. That is the nature of the loans we are negotiating. “So I had gone to drum up support for that and we will be updated as we go along, in regards to that. We are targeting companies that have relationships with SA companies, in terms of procurement ...
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