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Credit cover to be extended

    NAIROBI

    The South African government has announced plans to extend cover through its Credit Guarantee Insurance Corporation (CGIC) for all Zimbabwean businesses from 15 to 60 days, effectively reversing a move it made six months ago, media reports said.
    The reports quoted South Africa’s Finance Minister Trevor Manuel as saying the move was aimed at easing Zimbabwe’s fuel and power procurement crisis and attracting international donors to resume support to the cash-strapped country.

    Manuel said his ministry was discussing the measures with his country’s electricity supplier, Eskom and the oil-from-coal parastatal SASOL. “We are also discussing a number of bilateral commitments to unlock opportunities and revive the relationship between Zimbabwe and international donors,” Manuel said.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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