HARARE - Economic Planning and Investment Promotion minister, Tapiwa MashakadaHe said Bulawayo might also benefit from this fund, saving some industries battling to survive after several companies closed down or relocated to Harare over the past year, leaving workers jobless.
We want industries in all cities to get a boost from this fund and not restrict it to just Harare, Mashakada said. We will be travelling to Botswana later this month, where we are going to finalise the modalities of the credit lines and ensure that the money is availed as quickly as possible.
A Bilateral (BIPPA) was signed between the government of Zimbabwe and Botswana, a fortnight ago – paving the way for investment of up to 500 million Pula to flow across the border.
Bilateral Investment Promotion and Protection Agreement is set to unlock US$76 million in lines of credit, of which 70 percent will be directed towards the manufacturing sector. Botswana had pledged the lines of credit during an extra-ordinary SADC Heads of State and Government Summit held in Swaziland in March 2009.
Post published in: News