Want To Invest In The Risk Of Doing Business In Zimbabwe?

Want To Invest In The Risk Of Doing Business In Zimbabwe?

Zimbabwe seeks US$10 million in financing so it can join the African Trade Insurance Agency, a move that will help address some of the challenges affecting investment inflows into the country, StarAfrica reports.

The African Trade Insurance Agency is a financial institution that provides insurance covering political risk, investment, export credit and other types of insurance to help reduce the business risks and costs of doing business in Africa.

Zimbabwean Industry and Commerce Minister Mike Bimha said Monday that Zimbabwe has started negotiations with regional and global financiers to raise the needed $10 million.

Accreditation by the African Trade Insurance Agency will provide a platform for Zimbabwean companies to interact with other ATI agency affiliates and economies, and help address some of the challenges affecting investment inflows into Zimbabwe, he said.

“There are key benefits that can be derived and it is a matter of time,” Bimha told state radio.

Bimha declined to name the financing sources with whom the cash-strapped Harare authorities are discussing financing.

The African Trade Insurance Agency helps facilitate foreign direct investment, trade flows and exports in and out of Africa, according to the report.

ATI was launched in 2001 and claims to have supported more than US$2.5 billion worth of trade and investments across Africa.