No billions from China- Hakuna mabillion ari kuuya ari munhava


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Information Secretary George Charamba says Zimbabwe is not looking for a cash bailout from China but is looking for infrastructural investment.  “Variku expecter kuti tichauya nema billion ari munhava don’t know the strategic direction of Zimbabwe. We are looking at ourselves as the investors, we are looking at inward investment,” he said yesterday as he left for China with President Robert Mugabe. A huge Zimbabwean delegation comprising Finance Minister Patrick Chinamasa, Foreign Minister Simbarashe Mumbengegwi, Transport Minister Obert Mpofu and Industry Minister Mike Bimha was already in China. It is being joined by Mugabe, Agriculture Minister Joseph Made and Tourism Minister Walter Mzembi. “We are largely looking at investment of an infrastructural nature and the focus is on energy, that is coal and thermal, hard communication by way of road networks, rail, locomotives. We are also looking at areas to do with agriculture to take forward our programme of mechanisation. We are looking at strengthening the telecommunications sector, possibly broadcasting,” Charamba, who is also Mugabe’s spokesman, said dismissing claims that Zimbabwe was looking for a US$4 billion bailout from China.  Mugabe, who told Southern African Development Community leaders not to rely on aid, had come under a lot of flak for doing exactly that by dashing off to China, only days after urging his colleagues not to rely on aid. China has been described as an all-weather friend of Zimbabwe, but it has demonstrated that business is business. Zimbabwe has to prove itself before any bailout.

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The Insider

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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