Zambia's kwacha is Africa's best performing currency in 2024
Zimbabwe’s President Emmerson Mnangagwa and his Chinese counterpart Xi Jinping on Tuesday witnessed the signing of several cooperation agreements that will see the two countries cooperating in the areas of agriculture, mining and transport.According to the Zimbabwe Broadcasting Corporation, Mnangagwa, who is on a week-long state visit to China, attended the signing ceremony for the agreements valued at more than US$500 million that were clinched by a Zimbabwean business conglomerate.
One of the agreements is a US$400 million pact between Zimbabwe’s Platinum Agriculture and Princewood Enterprises and China’s Lovol for the supply of heavy machinery for agriculture and mining.
The Zimbabwean firm also clinched a US$40-million revolving facility with Good Agro Rising of China for the supply of chemicals for tobacco and other export-oriented crops.
The same Zimbabwean firm secured a US$80-million deal for the supply of irrigation equipment.
The firm has also secured a deal with Chinese vehicle manufacturer Allen Bus under which at least 1,500 buses will be brought into Zimbabwe to ease transport challenges in Harare and other towns.
At least 500 buses will be imported fully-assembled while the remaining 1 000 will be brought in as kits to be assembled in Zimbabwe, according to the report.
Mnangagwa had a closed door meeting with Xi on Tuesday and was expected to meet representatives of the Chinese private sector during his visit to China.
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