SW Radio Africa (London)

Zimbabwe: Botswana Pledges Credit Line As SADC Funding Deadline Expires

Botswana's government has pledged a US$70 million credit line to Zimbabwe, days after a deadline set by the Southern African Development Community (SADC) for members to pledge financial aid to Zimbabwe ran out on Tuesday.

A Botswana delegation, led by the secretary for Economic and Financial Policy Taufila Nyamadzabo, made the pledge on Thursday during a visit to Zimbabwe. Nyamadzabo said the global financial crisis, which has seen the purse strings of most government's tighten, was keeping Botswana from doing more. The credit line pledge has been welcomed, but it is not the cash boost Zimbabwe's government has been hoping and working for. SADC leaders have urged African nations to pledge financial aid to Zimbabwe's government and two weeks ago set the deadline for the country's to add their pledges to an economic rescue package.

But that deadline passed on Tuesday night and it is still not clear what African governments have pledged to the package - if anything. SADC members have been just as unwilling as international governments to part with their money to assist Zimbabwe, and have merely committed to Zimbabwe's fundraising and sanction-lifting cause. At the weekend, South Africa's Foreign Affairs Minister, Dr Nkosazana Dlamini-Zuma, said SADC had dispatched teams of ministers to the United States and European Union to lobby for the lifting of targeted sanctions in Zimbabwe and to canvas for economic support for the government. She said, during an election debate broadcast on the SABC, that SADC governments would not raise all the money needed in Zimbabwe themselves, but would try to mobilise it from international donors and international financial institutions.

Last week, a South African Foreign Affairs official reiterated his country's willingness to assist Zimbabwe's economic revival efforts, but could not give figures of the economic assistance South Africa was prepared to offer.

Zimbabwe's finance ministry, now under the control of the MDC's Tendai Biti, has been fighting to secure financial investment in the country, where critically needed cash boosts have only been in the form of humanitarian aid. But international donor governments have understandably been reluctant to invest in the unity government until real visible change is evident in the country, change that the fledgling government has not been able to deliver.

The ongoing farm invasions, which have shown a clear fault line between the government's leaders, are the main reason why direct financial aid is being held back. But with Robert Mugabe continuing to condone the attacks that have drawn international condemnation, it is unlikely that the money the government so desperately needs, will start entering the finance ministry's currently empty coffers, any time soon.


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Comments 1 to 1 of 1 Post a comment

  • JBeeMar
    Apr 17 2009, 09:49

    I would advise all who wish Zimbabwe well to hold on to whatever aid they have until the sky turns blue again. There are so many dark clouds hovering above our nation. Look at what the old man has already started to do - grabbing a ministry that was given to the then opposition - apart from the other multiplicity of deliberately unfinished business of the GPA which paved way for the setup of the GNU.