Afreximbank confirms $500m facility talks

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Governor Mangundya

The African Export-Import Bank (Afreximbank) has confirmed holding talks with a Zimbabwean delegation led by Finance and Economic Development Minister Professor Mthuli Ncube  in connection with a $500-million nostro stabilisation facility.

Zimbabwe, which is going through a damaging foreign currency crisis, is looking for stabilisation facilities while at the same time coming up with long term measures to address its economic challenges.

In a statement released on its website, the regional bank said a delegation of the Afreximbank led by its President Prof Benedict Orama, held talks with a team led by Minister Ncube, and the Governor of the Reserve Bank of Zimbabwe, Dr John Mangudya, to discuss Afreximbank’s support to Zimbabwe’s economic recovery. — The Herald.

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