Zimbabwe: Govt Borrows From Old Mutual and NSSA to Fund Referendum

The government said it has raised $40 million by borrowing from Old Mutual and the National Social Security Authority (NSSA) to help fund this Saturday's referendum.

Finance minister Tendai Biti said on Monday they were able to raise the funds through a "voluntary bond" sold to Old Mutual Plc's local unit and NSSA. Zimbabweans will vote on Saturday in a referendum on a draft constitution, a crucial step toward a general election expected around July.

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