Zimbabwe new dispensation got a shot in the arm after the Afreximbank and Reserve Bank of Zimbabwe signed $1.5 billion stabilisation facility.

The deal was signed this Friday, Afreximbank headquarters in Cairo, Egypt.

RBZ, Dr John Mangudya who signed the deal on behalf of Zimbabwe confirmed the development to the ZBC News this evening.

“The US$1,5 billion Afreximbank stabilisation facility to Zimbabwe is expected to mitigate against the perceived risk associated in investing in the country. US$1 billion will be in the form an investment guarantee while US$500 million funds the Transitional Stabilisation Programme (TSP),” Dr Mangudya explained from Cairo.