by Rudo Saungweme

The USD $250 million loan from Germcorp, a United Kingdom based firm, has been viewed by economic analysts as a sign of growing investor confidence on Zimbabwe.

Minister of Finance and Economic Development, Professor Mthuli Ncube said, “Granting of the facility by Germcorp is a strong signal by foreign investors of their growing confidence in Zimbabwe.”

The loan facility will be used to import essentials like fuel, electricity and medicines.

One government official who refused to be named said, “Thank you Professor Ncube! Information is power and we appreciate that you are always providing it. This is what we expect in the revival of the economy.”

The Germcorp group said that it would continue to work with Zimbabwe and other borrowers across the country. Atanas Bostandjiev, founder and CEO of Germcorp Group said, “With this facility, we are financing and coordinating the delivery of essential goods to help support the Zimbabwean economy.”

Zimbabwe has so far attracted investors from a number of countries including China and South Africa. In another development, Government secured USD10 million loan facility from a South African institution. The United Kingdom in collaboration with Standard Chartered Bank is working on programme to lend Zimbabwean companies US$100 million.

Ncube has interacted with potential investors to build investor confidence in Zimbabwe. Today he met with the outgoing British Ambassador to Zimbabwe, Catriona Laing. Ambassador Laing on her twitter account said, “Useful meeting with Professor Mthuli Ncube today. We discussed the Cholera outbreak, challenges ahead for Zimbabwe and Government of Zimbabwe`s plans for economic reform.”

A number of countries are willing to invest in Zimbabwe. President Emmerson Mnangagwa through his ‘Zimbabwe is open for business’ mantra, is also calling for all interested investors to come and invest in the country.