The government of Botswana has refuted reports that it has extended a loan to President Emmerson Mnangagwa’s government  to Zimbabwe  amounting to $600 million dollars.

The state owned Herald newspaper said, “The loan will consist of $500 million dollars for Zimbabwe’s diamond industry and a further $100 million to help private companies, whose operations have been hamstrung by the dollar shortage.”

The story was even carried by Forbes Africa website.

Find the full statement below:

“The Office of President wishes to inform members of the public that the Government of the Republic of Botswana and the Government of the Republic of Zimbabwe are currently holding discussions under the framework of the Bi-National Commission which covers a wide range of issues which are mutually beneficial to the peoples of the countries.

As such, media reports that are currently circulating about the line of credit worth six hundred million United States Dollars that the Government of Botswana has committed itself to extend to the Republic of Zimbabwe are unfounded.

We wish to advise members of the public that in accordance with international practice, a communique which summarises the outcomes of the meeting will be issued following the conclusion of the Bi-National Commission.”byo24