Zimbabwe’s trade promotion body, Zimtrade has successfully negotiated for a US$100 million export fund from the Reserve Bank of Zimbabwe (RBZ0 that will be made available early this year.
After recording a strong performance in exports last year, posting a 30 percent jump to breach the US$3 billion mark, Zimtrade is making strides to cement this growth through implementing various strategies this year.
One of the important steps to achieving this objective has been the successful negotiation of a US$100 million export fund with the RBZ which attracts an affordable interest rate for exporters and opens new opportunities to increase the country’s export receipts.
Zimtrade Board Chairperson, Mr Lance Jena said there are also arrangements to harness knowledge and skills from source markets such as the Netherlands and Germany to build on product quality and competitiveness.
The country enjoyed strong earnings from mineral exports last year, with gold recording a 3.2 percent increase to US$275.2 million in the period to May 2017, while platinum exports raked in US$333.5 million.
Tobacco exports raked in US$933 million and there are expectations of a further enhanced performance going into the selling season this year.