just now

    • Kenya: Anti-counterfeit war chest gets $15m boost

      APA-Nairobi (Kenya) — Kenya on Monday received $1.5 million support from Trade Mark East Africa towards supporting the digitalization of its operations and services to fight counterfeit goods.

    • Western nations issue Uganda travel advice

      APA-Kampala (Uganda) — The United Kingdom Foreign and Commonwealth Office and the United States have issued travel advisory warnings to their nationals in the wake of the heightened political tensions in...

    • Rwanda, Italy strike air services deal

      APA-Kigali (Rwanda) — Rwanda and Italy on Monday signed an air services agreement that grants both parties the rights to fly into both territories without landing, as well as to make stops for non-traff...


    UK, Standard Chartered avail $100m credit facility for Zimbabwe firms

    APA-Harare (Zimbabwe)

    The United Kingdom and the Standard Chartered Bank have partnered to avail a US$100 million credit facility to Zimbabwean firms as signs continued to emerge of the thawing of previous frosty ties between London and Harare.

    Reserve Bank of Zimbabwe (RBZ) governor John Mangudya told state media on Thursday that this is the first direct commercial loan to Zimbabwe by the UK government in over two decades and the facility would go a long way in improving local firms’ competitiveness.

     “This is a significant move in that it is a medium-term facility to be used for the revival of companies in Zimbabwe,” Mangudya said.

    He added: “More importantly, it is a sign of confidence that the international community has found in Zimbabwe. It is a seal of approval or endorsement of government policies and measures aimed at transforming the economy into a middle income (nation) by 2030.”

    The facility is a joint initiative between the UK government’s CDC Group, which was formerly known as Commonwealth Development Corporation, and London-based Standard Chartered Bank. The CDC is the UK’s development finance institution.

    CDC chief executive Nick O’Donohoe said the facility is expected to benefit companies from several sectors, including food processing, manufacturing and agriculture.

    The loans would be for periods up to three years and can be used for capital expenditure or working capital.


    React to this article