ZB to invest $100m in Government projects


Livingstone Marufu
Zimbabwe Stock Exchange- listed ZB Financial Holdings says it is keen to fund $100 million worth of projects under Government’s 100-day programme to expedite their completion.

Government initiated the 100-Day Works Programme for all ministries to inculcate a culture of hard work towards transforming the domestic economy under the new political dispensation.

Government is a shareholder in ZB.

The financial institution is keen to invest in roads, tollgates and construction of electricity substations among other projects to help the new administration in achieving its first 100 Day goals.

ZB chief executive Ron Mutandagayi, told Business Weekly that the group will fund some of Government programmes for quick completion as targeted under the 100-day programme.

“We are ready to fund various Governmental and quasi-Government departmental projects, which the authorities are targeting in its first 100-Days.

“We are targeting construction and rehabilitation of roads, tollgates, electricity substations and data bases among other things to help the revival of the economy in the shortest possible time.

“We are ready to invest around $100 million in these projects, but what we want is for different departments to come up with their proposals then we release the money,” said Mutandagayi.

The proposed investments come against the backdrop of another successful funding of Zimbabwe National Road Administration (Zinara)’s road project late last year.

The $100 million Zinara Emergency Roads Rehabilitation Fund was 5 percent oversubscribed and is being supported by ZB, a key player in the restoration of infrastructure in the country.

ZB has been seeking credit external lines to improve its operations and although it faced challenges due to western sanctions it managed to secure over $35 million from regional and international banks.

Another $50 million worth of credit lines is currently being finalised with a global bank with the funding expected to fund some of the Government projects under the 100 day programme.


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