While tensions seem to be on the mend in Zimbabwe after the population took to the streets to protests fuel price hikes, some good news seems to be on the horizon as Botswana has agreed to extend a credit facility to the struggling nation.
Estimated to be up to the tune of $1 Billion, the credit extension comes as part of renewed efforts between the two nations to elevate their bilateral ties, especially since they have mutual interests in key strategic areas. Signing eight agreements, the two leaders met at the inaugural ceremony of the Zimbabwe-Botswana Bi-National Commission in Harare. According to The Herold, Zimbabwe’s state-owned newspaper the loan will consist of £500 million dollars to aid Zimbabwe’s diamond industry – which has been struggling since the government kicked out private companies after a declined plan to merge with state-owned mining companies. A further $100 million will help private companies who have been affected by the dollar currency shortage.
Speaking on the credit extension, Zimbabwe President, Emmerson Mnangagwa stressed “We continue to advocate for the reform and democratisation of the United Nations Security Council so that it serves as the pedestal of international justice, peace and security for all member states.”