Zimbabwe export earning sectors have so far accessed loans worth at least US$100 million from a central bank facility aimed at reviving productive sectors of the economy.
The uptake of a Reserve Bank of Zimbabwe (RBZ) US$300 million productive sector facility has seen several export oriented companies being actively involved in accessing loans being offered at concessionary or affordable rates.
The gold mining industry is leading in terms of beneficiaries to the facility followed by horticulture, agro processing, and tourism with revelations a women’s empowerment fund will soon be rolled out to sustain their operations.
Central bank Deputy Governor Dr Khupukile Mlambo says it is in the best interest of the nation to revive exports and balance the act between the rise in demand for hard cash against limited inflows.
“The time is not yet ripe but we anticipate a lot so that export firms can break even and operate in an environment that can facilitate growth of the economy taking into account the need to boost production,” said Dr Mlambo.
Monetary authorities have unveiled export incentives to gold producers, tobacco growers and cotton farmers in a development aimed at increasing foreign exchange earnings.