Old Common – For solar support, export growth | MarketScreener

Old Mutul ZimbabweThe country’s largest financial services group says it is keen to extend credit for renewable energy development and export-oriented initiatives.

This comes after the company spills the area $ 12.3 million (Over R188 million) In solar projects across the country, it is expected to generate 25 megawatts when completed.

For the time being in the business update to July 2021 The group, which has interests in real estate, mentioned key sectors such as mining and tourism.

The agricultural and horticultural sectors will also benefit from the credit, as the company works to stimulate productivity in economic environments that promote revenue.

Initiatives supported by loans and other investment activities include renewable energy development, foreign exchange generation and alternative agriculture, mining, horticulture and tourism. ” Old common They said.

The group also supports fast-moving consumer goods (FMSG) industrial value chains, which it says have shown resilience in times of crisis, especially during high inflation.

There was a lot of pressure on business units to increase our participation in value chains that showed resilience in the face of high inflation. This includes the export sector and some sub-sectors of the FMCG and the service industry. ” Old common.

The funding is in line with the sentiments of the Minister of Finance and Economic Development, Prof. Mtutuli Nkubu. Zimbabwe The gold mining sector has great potential.

Zimbabwe Small and medium-sized artisans make up about 60 percent of annual gold production, so they have to support their work, which has been hampered by a shortage of sophisticated equipment and a lack of funding.

Seriously, the initiative comes as a gradual recovery from the effects of the Covand-19 epidemic, which closed for five months between April and August last year.

The government, like any other administration in the world, has implemented regulations aimed at curbing the spread of the virus, which has negatively affected the process.

The Financial Services Group is expected to strengthen the prospects for a good 2020/21 agricultural season, reasonably stable inflation and a modified exchange rate since the second half of 2020.

The group, however, said that the locks caused by the VV-19 were a serious threat to trade and economic performance in general.

Copyright The Herald. Distributed by AllAfrica Global Media (allAfrica.com), Source: News Service English


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