Zimbabwe needs private sector to help restart economy – Minister

South Africa could experience a “commercial boom” if trade with Zimbabwe was increased, Zimbabwean Economic Planning and Development Minister Elton Mangoma said on Monday.

Mangoma urged South African companies to recapitalise and extend some loans to their Zimbabwe affiliates.

Once Zimbabwean companies could access South African products and services more easily, demand for South African-produced goods would rise, boosting the local economy.

Speaking at a conference hosted by international tax and advisory firm KPMG, Mangoma said that the Zimbabwean government had little funds to invest in its own country. It would now be up to the private sector to restart the Zimbabwean economy.

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