Zimbabwe has secured a $250 million loan facility from Germcorp Group, an international independent investment management firm focused on emerging markets.
Minister of Finance Professor Mthuli Ncube welcomed the development saying that, “granting of the facility by Germcorp is a strong signal by foreign investors of their growing confidence in Zimbabwe. I expect more investors to follow suit.”
Atanas Bostandjiev, founder and CEO of Gemcorp Group, said: “With this facility, we are financing and coordinating the delivery of essential goods to help support the Zimbabwean economy. The trade finance gap in Africa remains significant and is an enduring constraint to economic development. The Gemcorp Group remains focused on working with local partners and borrowers across Africa and the rest of the emerging markets to provide creative funding solutions and foster trade and investment in the region”.