Zimbabwe secures multi-million-dollar China investment

Zimbabwe secures multi-million-dollar China investment

HARARE, (CAJ News) ZIMBABWE has secured investment deals worth US$1 billion (about R11 billion) as the two countries revive relations that were stalling under the administration of now-deposed leader, Robert Mugabe.

The breakthrough follows a five-day state visit to China by President Emmerson Mnangagwa, who succeeded Mugabe in November last year after his forced resignation.

“This is the highest level which China has with other nations, so Zimbabwe has been elevated to that status. When that is achieved it means that there would now be very comprehensive economic relations,” Mnangagwa said upon arrival in Harare.

He was looking forward to revived relations with China, whose President, Xi Jinping, he met during the tour.

His visit came in the wake of previously warm relations with the Asian country stalling because of controversial economic policies and corruption under Mugabe.

Mnangagwa has succeeded him on a campaign premised on economic reforms, tackling corruption and mending relations with the international community.

“The present is now being opened from a new page where all the projects which we presented have been agreed to and are going to be financed; whilst the old commitments by Zimbabwe to previous projects will be worked on, but separately de-linked from the current process,” Mnangagwa said.

The visit to China saw Harare clinch mega deals set to revive dilapidated factories, construct of new infrastructure and resuscitate electricity power stations in the Kariba Dam and Hwange Colliery.

While Mnangagwa was in China, the United States government also sent a high powered delegation to Harare to assess political reforms, human rights and democracy.

– CAJ News

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