Zimbabwe to benefit from US $2bn solar financing arrangement

Zimbabwe is soon going to benefit from a US $2bn solar financing arrangement availed by the Government of India to several African countries.

Vice President, General Constantino Chiwenga, met India’s President Ram Nath Kovind as part of discussions on how Zimbabwe can benefit from the solar financing agreement. According to Cde Maxwell Ranga, Zimbabwe’s Ambassador to India, the two discussed a wide range of topics. Among them was the International Solar Alliance framework, which Zimbabwe is going to sign before it can benefit from the arrangement.

The country will sign the International Solar Alliance agreement for it to tap into the pool of funds to finance all its solar projects. Ambassador Ranga said the Vice President also met members of the Confederation of India Industries who were happy with Zimbabwe’s new investment policies.

Furthermore, according to President Mnangagwa, Zimbabwe is open for business.  “We have pushed for the amendment of regulations to improve the ease of doing business,” he said. Cde Ranga explained that discussions covered construction, agriculture, mining, power, healthy and pharmaceuticals. He said several Indian business people were expected in Zimbabwe next week to explore investment opportunities.

If everything goes as planned, Zimbabwe will have almost enough power supply for both rural and urban areas. Businesses highly dependent on power will also improve owing to the increased power supply.