RSS 2.0 FeedNov 2009 Vol 14, Business , Financial and Property Indaba
Zimbabwe, China Sign $8 Billion Investment Accord
Zimbabwe’s government and a Chinese joint venture signed an $8 billion accord that will result in investment in the southern African country’s mining, energy and housing industries, the Herald reported.
Zimbabwe’s government and a Chinese joint venture signed an $8 billion accord that will result in investment in the southern African country’s mining, energy and housing industries, the Herald reported.
China Sonangol, a Chinese-Angolan venture, may invest in gold and platinum refining, oil and gas exploration, fuel procurement and distribution, and housing development, the Harare-based newspaper said, citing Misheck Sibanda, chief secretary in the presidency. The deal is the largest since Zimbabwe formed a power-sharing government in February, it said.
A “significant” amount of the $8 billion is already being held by domestic financial institutions involved in the deals, the newspaper said.
