Botswana extends $600 million to Zimbabwe

Zimbabwe and Botswana officials attending the ongoing Bi-National Commission in Harare PHOTO: Herald

Johannesburg, South Africa (ADV) – Botswana has proposed a BWP1 billion (approximately US$94, 5 million) credit facility, in support of the Zimbabwe private sector, African Daily Voice can confirm.

According to the Herald newspaper, on Thursday, the Zimbabwean President Emmerson Mnangagwa and his Botswana counterpart Mokgweetsi Masisi will consummate the signing of the agreements which are a result of the current underway Bi-National Commission (BNC) in Harare.

It is reported that Botswana is extending $600 million in two major facilities to Zimbabwe’s private sector and diamond industry that will give ties between the two countries a huge lift.

“Zimbabwe welcomes with much appreciation that Botswana proposed a BWP1 billion (approximately US$94, 5 million) credit facility, in support of the Zimbabwe private sector,” Zimbabwe’s Secretary for Foreign Affairs and International Trade Ambassador James Manzou.

“I would like to encourage all of us as officials to fully utilise our two working days to synthesise the remaining issues that will lead to the operationalisation of this facility. Zimbabwe is also appreciative of the US$500 million diamond facility offered to it by Botswana. I also urge this meeting of officials to work in earnest to ensure that all outstanding issues relating to this facility are finalised.”

Ambassador Manzou expressed appreciation towards Botswana efforts of stabilising Zimbabwe‘s economy, with a focus on Transitional Stabilisation Programme (TSP).

“I wish to express my gratitude for the support extended to Zimbabwe by Botswana as our country embarks on a fresh development trajectory under the new dispensation.
“That support has not only come in the unyielding commitment towards enhancement of relations through the BNC, but also in programmes that will support our economic recovery in line with Zimbabwe’s Second Republic’s seminal blueprint, the Transitional Stabilisation Programme,” he said.

He added that at least three Memorandums of Understanding in Diplomatic Consultations and Rules of Procedure (meant to operationalise the BNC) and that of Agriculture and Mining were ready for signing.

“We should speedily activate the Joint Technical Committees in the two sectors to ensure actionable programmes take off immediately. In the mining sector, Zimbabwe is especially keen to emulate how Botswana managed to harness its diamond resources giving it a critical role in transforming the country into one of the most prosperous on the continent,” he added.

Botswana’s permanent secretary for International Affairs and Cooperation, Gaeimelwe Goitsemang, urged both countries to utilise the BNC.

“It’s my hope that the outcomes of this BNC will improve the bilateral relations between the two countries with economic diplomacy taking centre stage. I hope this new arrangement (the BNC) will improve coordination of our activities. The BNC is a strong expression of the good relations between our two nations,” he said.

© Bur-JHB – M.C – African Daily Voice (ADV) – Follow us on Twitter : @ADVinfo_en