Zimbabwe records surge in value-added exports as trade deficit narrows

Zimbabwe seeks US$150 million AfDB loan to address debt default

Zimbabwe is pursuing a US$150 million loan from the African Development Bank AfDB to tackle its debt default. This initiative follows earlier discussions in April where authorities, led by Ncube, engaged with countries including the UK, Japan, and Germany to secure US$2.5 billion. The country is also focusing on economic growth, evidenced by a US$650 million investment vision and efforts to boost value-added exports, which have contributed to a narrowing trade deficit. Additionally, Zimbabwe is setting in motion plans for a US$25 million climate recovery boost. Other developments include the appointment of Rukweza as the Lithium Association of Zimbabwe chair and FBC Holdings achieving ISO/IEC 27001:2022 certification.