Home » General » AfDB Sends Mission to Zimbabwe

The mission will meet with the chamber of commerce, government and business to discuss the best ways of supporting the Zimbabwean economy

THE African Development Bank (AfDB) is preparing to send a mission to Zimbabwe in the second half of the year that will be tasked with identifying private sector players that could be supported by the bank, Executive Director for Southern Africa, Mahomed Rafique Jusob Mahomed has said.

Mahomed who represents Angola, Mozambique Namibia and Zimbabwe on the AfDB board said the mission will also meet with government and captains of industry to discuss ways in which AfDB could help propel the domestic economy forward.

“The AfDB is preparing a mission to visit the country the mission will meet with the chamber of commerce, government and business to discuss the best ways of supporting the Zimbabwean economy. The mission will also be looking at companies that are fully privately owned which can be supported by AfDB, by which support they can grow their business and become more competitive,” he said.

Mahomed said the private sector has immense potential which the AfDB and other International Finance Institutions are keen to explore.

“The private sector has a lot of opportunities which the banks including AfDB and World Bank also acknowledge. The AfDB hopes to contribute to the prosperity of the country by injecting capital and making the right investments which will be channeled through the private sector,” he said.

The AfDB director however said the country needs to optimize the productive sector so as to counter competition from South African products being imported in the country.

“We see a lot of opportunities in the country, however we also see the challenges such the high value of the dollar and depreciation of the South African Rand, which makes the local economy less competitive as it is easier to import goods. It is therefore important to optimize and modernize the productive sector,” he said. -FinX

Source : Financial Gazette

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