AfDB to fund private sector projects in Zimbabwe




Moono Mupotola

ZIMBABWE’S efforts to re-industrialise the economy have received a boost after the African Development Bank board of directors approved a strategy to fund the country’s private sector.

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, Ms Moono Mupotola revealed commitment to support the private sector.

“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,” said Ms Mupotola.

The AfDB country representative also spoke on the re-engagement plan with Zimbabwe.

“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,” she added.

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.