The European Union ambassador told Zimbabwe businesses they need solid plans to attract investor money. Jobst von Kirchmann spoke during a three-day business meeting between the EU and Zimbabwe companies. More than 60 companies from 12 European countries attended the forum, which aimed to boost trade and investment between the two regions. Local firms have struggled for years to find funding for their business ideas.
Four Zimbabwe banks received over 100 million dollars in loans from European banks. NMB Bank received 39 million dollars from the European Investment Bank, First Capital Bank took 14 million dollars, and Cabs received 17 million dollars. Stanbic Bank secured 28 million dollars through the same program. These seven-year loans carry low interest rates and focus on farming and renewable energy projects.
No Zimbabwe businesses have failed to repay their European loans. The Reserve Bank deputy governor said the central bank added billions to the money supply. Many business owners complained that government rules make borrowing difficult. Currency stability remains a major concern for investors and local companies. Officials promised to maintain steady exchange rates to build confidence among businesses.
Four Zimbabwe banks received over 100 million dollars in loans from European banks. NMB Bank received 39 million dollars from the European Investment Bank, First Capital Bank took 14 million dollars, and Cabs received 17 million dollars. Stanbic Bank secured 28 million dollars through the same program. These seven-year loans carry low interest rates and focus on farming and renewable energy projects.
No Zimbabwe businesses have failed to repay their European loans. The Reserve Bank deputy governor said the central bank added billions to the money supply. Many business owners complained that government rules make borrowing difficult. Currency stability remains a major concern for investors and local companies. Officials promised to maintain steady exchange rates to build confidence among businesses.
