3 June 2018

Zimbabwe: Zim Has Attracted Investment Worth $16billion Since the Coup, Claims Mnangagwa

Photo: Emmerson Mnangagwa/Facebook
President Emmerson Mnangagwa.

ZIMBABWE has attracted investments worth US$16 billion into the country since Emmerson Mnangagwa took over through the assistance of the military in November last year, the president has claimed.

Addressing scores of Zanu PF supporters in Gweru recently, president Mnangagwa also revealed that the government had also secured US$ 1 billion for the resuscitation of Hwange Colliery.

"Many projects have come within the last five to six months. We have attracted into this country around US$ 16 billion in terms of projects alone and this must go towards the creation of employment and bringing of technology into the country," said President Mnangagwa.

The president also revealed that the Chinese government has availed US$1 billion for the resuscitation of Hwange.

"When we went to China in April this year, we were given US$ 1 billion for Hwange 7 and 8. The money was released this week. So in Hwange over a 1000 jobs will be created," said President Mnangagwa.

Mnangagwa announced government's plans to allow small scale miners to first conduct their mining activities while paying their mining fees and royalties' later.

"When I was talking to representatives of small scale miners, they requested to be allowed to carry out their mining activities and repay their mining fees after selling their minerals. As government we don't see anything wrong with that," he said.

The president also revealed that the Chinese government has pledged US$ 100 million which will go towards the assistance of small scale miners.

He said the Chinese government refused to release the facility during former President Robert Mugabe's era without citing any reason.


Central Bank Governor Panics Over Soaring Black Market Forex Rates

GOVERNMENT, through the central bank, will Monday draw down US$500 million to supply the interbank forex market to meet… Read more »

See What Everyone is Watching

Copyright © 2018 New Zimbabwe. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.