By Own Correspondent| Afreximbank president, Prof Benedict Oramah signed a Memorandum of Agreement on the Facility for Investment Promotion for Zimbabwe open to the value of US$1,5 billion.

The deal was signed this Friday at the Afreximbank headquarters in Cairo, Egypt.

RBZ governor, John Mangudya signed the deal on behalf of Zimbabwe.

Speaking to the national broadcaster Mangudya said:

“The US$1,5 billion Afreximbank stabilisation facility to Zimbabwe is expected to mitigate against the perceived risk associated in investing in the country. US$1 billion will be in the form an investment guarantee while US$500 million funds the Transitional Stabilisation Programme (TSP).”-StateMedia