Economic Updates - Featured - Top Stories - September 22, 2021

AfDB to scale up Zim’s re-industrialisation drive

African Development Bank (AfDB) board of directors approved a strategy to fund the Zimbabwe’s private sector.

The development is set to accelerate Zimbabwe’s re-industrialisation drive.

The Zimbabwe Country strategy 2021- 2023 which outlines private sector support and institutional reforms, was virtually launched by the African Development Bank (AfDB) board this Wednesday.

AfDB Country Manager for Zimbabwe, Moono Mupotola reiterated its commitment to back the private sector and highlighted on the re-engagement plan with Zimbabwe.

“The focus of our strategy is to strengthen resilience and build competitiveness by improving the private sector’s productive capacity through an improved business climate, ecosystem and infrastructure and also to leverage the opportunities the AfCFTA offers.

“Therefore our focus is to work closely with other international financial institutions, development partners and government in finding resolutions to this challenges of debts as well as provide technical assistance,” said Mupotola.

In a report, the AfDB revealed that it is one of the key development partners in Zimbabwe in sectors such as infrastructure, finance, agriculture, industry and governance.

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