Zimbabwe – Old Common Fund for Solar Fund, Export Growth

Zimbabwe’s Old Mutwell, the country’s largest financial services group, has expressed a strong desire to extend credit for renewable energy development and export-oriented initiatives.

The company is expected to generate a total of 25 megawatts upon completion of its $ 12.3 million (over 188 million) solar projects across the country.

In the July 2021 marketing update, the group said interest in assets is one of the key sectors covered by the lending institution.

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.

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 in the business sector to increase our participation in value chains that have shown resilience in the face of high trade inflation. He said this includes the export sector and some sub-sectors of the FMCG and service industry. in common.

The funding is in line with the Minister of Finance and Economic Development, Prof. Mtutuli Nukube, who feels that Zimbabwe’s gold mining sector has great potential.