Zimbabwe has received $200m from the African Export-Import Bank (Afreximbank) to import much needed grain as the southern African nation grapples with food shortages following a prolonged drought.
Zimbabwe secures $200m to import maize
“We have arranged a facility of $200 million from Afreximbank and we will be importing from anywhere in the world,” Zimbabwe Reserve Bank Governor John Mangudya, said on a state radio.
According to reports, the governor added that the country had about 250,000 metric tons of maize reserves that would last until September.
The country which has a population of 13 million people plans to import up to 700,000 tonnes of maize this year.
Estimates from the World Food Programme indicate that about 14 million people face hunger in the Southern Africa region which has seen disrupted rainfall patterns following El-Niño.
Agriculture remains integral to the country’s economy.
The sector contributes 19% of Zimbabwe’s GDP and employs 70% of the population.