Zimbabwe: Govt in Bid to Boost Export Credits

(Allafrica News, Harare, 20 January 2015) The Government has stepped up efforts to capacitate the Export Credit Guarantee Corporation whose major role is to boost exports. According to the Insurance and Pension Commission, plans to recapitalise the organisation were now advanced... Sources close to the development said that the recapitalisation of the corporation, a subsidiary of the Reserve Bank of Zimbabwe, was going to be tied to the recapitalisation of the central bank... The corporation was prohibited around 2012 from handling any new business due to its failure to raise the minimum capital required... Since then it has been working on the business that it had secured prior to its suspension from handling new business.