President Emmerson Mnangagwa has secured half a billion US dollars worth of credit lines from the Eastern and Southern African Trade and Development Bank to unlock investment in the country.

President Mnangagwa this Saturday held discussions with the TD Bank President, Mr Admassu Tedesse, on the sidelines of the African Union (AU) summit that begins this Sunday in Addis Ababa, Ethiopia.

The Deputy Chief Secretary for Presidential Communications, Mr George Charamba confirmed that the discussions were fruitful with the regional bank expected to sign a US$500 million agreement with the Reserve Bank of Zimbabwe (RBZ) next month.

He also said TD Bank, whose headquarters is in Nairobi, Kenya, is coming to Zimbabwe as an advisory bank to the Batoka power project.

Zimbabwe last month signed several investment agreements with Belarus and TD Bank is the financial institution being used by Belarus for follow up on its projects on Zimbabwe and other African countries.

President Mnangagwa has a vision of making Zimbabwe an upper middle income economy by 2030 and international engagements and re-engagements have been the nucleus of that thrust. 

In Ethiopia, the President is inundated with requests to hold bilateral talks in the wake of attractive investment policies.