We want to work with Zimbabwe – AFDB

We want to work with Zimbabwe – AFDB

Hosia Mviring

The African Development Bank has pledged its full support for Zimbabwe’s economic recovery and development programs.

This was revealed by the Bank’s President, former Nigerian Minister of Agriculture, Dr Akinwumi Adesina in a Twitter posting yesterday November 18, 2022.

“Thank you President @edmnangagwa for attending the Africa Investment Forum. The special session on Zimbabwe was excellent as you showcased its vast investment opportunities. I was delighted to participate and support Zimbabwe,” said Dr Adesina.

Dr Adesina was responding to President Mnangagwa’s November 3, 2022 tweet in which he expressed his pleasure having been afforded an opportunity to speak at this year’s Africa Investment Forum’s Market Days which ran from 2 to 4 November 2022 in the Ivorian capital Abidjan.

President Mnangagwa had then said on November 3, 2022;

“Africa must be united – by transport and by trade. It was a pleasure to speak alongside AFDB Chairman @akin_adesina and Finance Minister @MthuliNcube.”

President Mnangagwa, who was accompanied to the Forum by Finance Minister Mthuli Ncube, Industry and Commerce Minister Sekai Nzenza, Agriculture Minister Anxious Masuka, and Foreign Affairs and International Development Minister Frederick Shava highlighted to the forum hinted on the growing close relationship between the Bank, it’s President and the President of Zimbabwe.

Indicating a growing relationship between the nation of Zimbabwe and the African Development Bank, the Bank extended a grant to the Southern African Nation at the height of the Covid-19 pandemic when nobody was willing to step in while the country was desperately in need of financial support to combat the outbreak.

 

President Mnangagwa then revealed that he was personally invited to the Forum by the Bank’s President when he visited Zimbabwe earlier this year.

It is during the visit to Zimbabwe that Dr Adesina agreed to champion Zimbabwe’s debt clearance strategy given that the country has been ravaged by sanctions imposed by the USA, European Union, and other Western countries

Said President Mnangagwa then;

“Our mission here is to explain ourselves, assure investors that Zimbabwe is a safe investment destination.”

 

AfDB President assured Zimbabweans of the Bank’s strong support saying that a US$4 million grant had been set aside to support the setting up of a secretariat to spearhead the country’s debt clearance agenda.

 

“I know the story of Zimbabwe, the opportunities and potential of Zimbabwe. I think Zimbabwe is not as risky as many of you think. Private sector opportunities are limitless.”

 

Adesina also expressed confidence in the residence of the Zimbabwean economy saying that the country’s strength lies in its untapped potential in the steel industry, agriculture and agro processing, and information technology. He said the bank well as lending support to these and other economic sectors.

 

“Zimbabwe is strongly committed. Zimbabwe will once again become the bread basket of Africa. I will swim along with you,” said Adesina in reassuring reverence.