SA to help Zimbabwe get back on its feet busrep
HARARE – South Africa would provide loans and financial assistance to help Zimbabwe get back on its feet, President Cyril Ramaphosa said at a meeting of the Bi-National Commission in Harare yesterday.
Officials told Business Report this was the only “wriggle room” that South Africa could afford. They said the private sector was keen to invest in Zimbabwe but was concerned about policy uncertainties, despite reforms.South African companies such as Anglo Platinum, Standard Bank, Sanlam and Old Mutual that operate in Zimbabwe rely on their parent units for financial support.
A joint communiqué released after the meeting said some South African financiers required guarantees to advance funds to Zimbabwean banks. Zimbabwean President Emmerson Mnangagwa said his country would assure South African investors that their investments were secure.
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