- Published on 01 September 2017
The Reserve Bank of Zimbabwe (RBZ) has unveiled a $10 million loan facility for the capacitation of small scale oil producers.
This comes as the apex bank has been making recommendations to increase production so as to cut the country`s import bill. RBZ deputy governor Dr Jesimeni Chipika said the loan facility is meant to support the agro-industry processing sector which falls under the Zim-Asset’s value addition and beneficiation cluster. The deputy governor said the RBZ was aware of tough conditions that the oil processers are operating in. Dr Chipika also highlighted that Homelink has already availed a revolving fund for the purchase of cotton seed for oil production. (Herald)