Zimbabwe and Botswana on Friday concluded a US$70 million line of credit deal to assist local industry to revive production and exports.
The deal was concluded during a meeting between Zimbabwean and Botswana government officials in Gaborone.

The southern African neighbours agreed that the facility would cover the export of goods and services from Botswana to Zimbabwe and joint venture deals.

The money is earmarked for use to revive Zimbabwe’s manufacturing sector that is struggling to shake off the debilitating effects of a decade of political strife and acute recession.

The Zimbabwean delegation was led by Finance Minister Tendai Biti and included leaders of business organisations.

The credit facility has been on the cards for nearly two years after Botswana offered to assist Zimbabwe’s new government overcome its economic challenges in 2008.