Agriculture

Botswana’s President denies report of $600m loan to Zimbabwe

  Loan Gaborone, March 1, 2019 (Reuters/NNN) Botswana’s President Mokgweetsi Masisi on Friday dismissed a report that the country had offered Zimbabwe a 600 million dollars diamond-backed loan.   He said his government only offered to guarantee a 100 million dollars private credit line for Botswana companies to invest in their troubled neighbour.   Zimbabwe’s […]

Published

on



 

Loan
Gaborone, March 1, 2019 (Reuters/NNN) Botswana’s President Mokgweetsi Masisi on Friday dismissed a report that the country had offered Zimbabwe a 600 million dollars diamond-backed loan.

 

He said his government only offered to guarantee a 100 million dollars private credit line for Botswana companies to invest in their troubled neighbour.

 

Zimbabwe’s Secretary in the Ministry of Foreign Affairs was quoted in the state-owned Herald newspaper on Tuesday as saying Botswana offered to lend Zimbabwe 500 million dollars to support its diamond industry and another 100 million dollars for the local private firms.

 

“I want to clarify these reports that we are giving Zimbabwe hundreds of millions in loans. That is totally untrue,’’ Masisi told reporters in Gaborone, a day after visiting Zimbabwe for business and trade mission.

 

“We are not giving them a single loan. The only thing we gave them yesterday are medical supplies made in Botswana and supplementary feeding worth197, 600 dollars.

 

“There is100 million dollars credit from private banks in Botswana and Zimbabwe to help Botswana private companies.

 

“What we have demanded, which we are waiting for, is a letter of guarantee from the Zimbabweans to counter our own guarantee,” he said.

 

Masisi said that Botswana, which is the largest producer of diamonds by value, would help Zimbabwe with its diamond trade because it would be useful and strategic for Botswana as it aimed to become a global centre of diamond trading.

 

Zimbabwe’s diamond sector has struggled since the government kicked out private companies from the eastern Marange fields in early 2016 after they declined to merge under the state-owned mining company.

 

Relations between Zimbabwe and Botswana have improved following a strained period when Botswana’s ex-President Ian Khama, who stepped down in 2018, routinely criticised Zimbabwe’s Robert Mugabe for holding on to power for too long.

 

A military coup in 2017 forced Mugabe to resign, ending his 37-year rule.  (Reuters/NNN)
AIJ/GY

Edited by Abigael Joshua/Grace Yussuf

https://nnn.ng/botswanas-president-denies-report-of-600m-loan-to-zimbabwe/

Ministry official advocates regular dog vaccination to end rabies by 2030 COAS inspects ongoing projects in Army Super Camp, Ngamdu School resumption: Expert advocates provision of clean water to check spread of infections Armed Forces College holds memorial service for 1992 Ejigbo plane crash victims Increased tariff: Previous administration created problem in power sector Scores of terrorists killed in massive airstrikes on hideouts in Borno – DHQ Wike promises early completion of 258-bed mother, child hospital in Port Harcourt Yobe IPAC agrees with LG elections postponement Brazil court postpones league game after several COVID-19 positive tests Don charges media on changing maternal health narratives FG hands over Ogoni remediation sites to NOSDRA for scientific analysis Chilean team discover match postponed after 1,500 km trip Buhari condemns attack on Gov. Zulum’s convoy, killings of security agents Edo election: We have learnt our lesson — APC Environmental: Kano Govt deploys 1,000 sanitation vanguards Christian women pray over insecurity in Jos Chelsea recover from 3 goals down to draw at West Brom Ondo 2020: No plan to collapse our structure for another party – ZLP Structure NGO tasks youths on self-development, empowers 100 with N200, 000 each FG set to address flooding as HYPPADEC takes off soon Police, vigilante group apprehend 3 bandits in Oyo DPR reinforces revenue collection channels COVID-19: PTF urges religious leaders to ask congregation to wear facemask NERC working on ways to monitor quality of service -Commissioner  Federal lawmaker presents car gifts to campaign coordinators in Ibadan Gov. Zulum mourns Col. Dahiru Bako killed by insurgents in Borno NCDC announces 195 new COVID-19 cases, death toll hits 1,100 NSE, others commit to expanding retail investment opportunities in capital market Imo Govt. moves to restore Owerri masterplan to check flooding Cyber-security: CSCS chief, others say collaboration key APC congratulates Gov. Obaseki on his re-election as Edo State Governor Tinubu hails wife at 60 No directive to constitute disciplinary c’tee against us — Ojudu, others NCAA to revoke erring airlines license over non-compliance with COVID-19 protocols African tourism leaders recommend MICE for sectoral recovery  We have finally caged the lions from Edo politics, says Gov. Obaseki Awosika, Dare, others to speak at NBC Youth Summit Edo speaker congratulates Obaseki, commends Buhari, INEC, others  Konsa seals Villa win over 10-man Sheffield United Group condemns attacks on women during governorship election in Edo COVID-19: NCDC says Nigeria not testing adequately Police arrest 96 suspects over alleged cultism, robbery in Benue Gov. AbdulRazaq announces committee on Saturday’s rainstorm in Kwara Edo election: Observer faults integrity of governorship election Motorists decry state of roads in Kuje Kaduna NLC mourns Emir of Zazzau Health Minister says 10% of COVID-19 cases are under-19 Edo Polls: SDP congratulates Obaseki, commends INEC Buhari to Okorocha at 58: Your large heart will always stand you out Kuje PDP inaugurates leaders of South-West group