Local private sector companies will next week hold talks with the Export-Import Bank of India over lines of credit to sustain operations and procure strategic machinery or working capital.

Access to money for retooling has not been easy for local companies taking into account the high costs of borrowing from the local banks.

 While most industries have resorted to seeking funds from existing shareholders or strategic alliances, it has also not been that adequate to sustain viability.

Zimbabwe-India Chamber of Commerce Chairman Mr George Chitsinde noted that more than 20 local firms will be taking part at the India-Africa Project Partnership next week, a move that will provide a platform for them to hold talks with the Export-Import Bank of India about possible lines of credit.

“There are opportunities which are available and need to be explored once the right systems or platforms are put in place in order to generate more funds and sustain the needs of local key strategic sectors in the future,” said Mr Chitsinde.

Apart from seeking credit lines, the firms will also scout for opportunities in the fields of agriculture, construction, financial services, infrastructure, ICT, trade, power and energy, and logistics, among other productive sectors.