Moscow – Zimbabwean President Emmerson Dambudzo Mnangagwa has used the Third Russia-Africa Summit in Moscow to press for fresh trade finance and credit lines from Russia, holding talks with the leadership of PSB Bank (Promsvyazbank) and Rossotrudnichestvo, the Russian federal agency that manages cultural and humanitarian ties abroad.
Writing on his official platforms after the meetings, Mnangagwa described the engagements as “highly productive” and sent a clear message to investors.
“Zimbabwe remains open for business,” he said.
The Zimbabwean leader pointed to his country’s economic performance as a selling point, citing an 8.3% growth rate which he credited largely to a strong agricultural season. He said cooperation between Harare and Moscow was expanding across several key economic and social sectors on the back of that progress.
According to Mnangagwa, the talks centred on building practical partnerships in trade, investment and strategic financing. He said Zimbabwe was particularly keen on what PSB Bank could bring in the form of trade finance, credit lines and banking projects.
To speed up delivery, Harare has proposed a joint technical working group made up of PSB Bank, Zimbabwe’s Ministry of Finance, Economic Development and Investment Promotion, and the Reserve Bank of Zimbabwe. The aim, the President said, is to move the agreements quickly from paper into projects with real impact.
Mnangagwa also said Zimbabwe is following BRICS discussions on linking national payment systems as those frameworks develop. The bloc, of which Russia is a founding member, has for some time explored ways for member and partner countries to settle trade outside traditional Western dominated payment channels.
Education and skills formed a major part of the discussions with Rossotrudnichestvo. More than one thousand Zimbabwean students are currently studying at Russian universities on scholarships, pursuing courses in natural sciences, technology, medicine and nuclear science. Mnangagwa said the programme was helping Zimbabwe build a highly skilled pool of talent to drive innovation at home.
He added that Zimbabwe welcomes dialogue between the human rights commissions of the two countries, saying such institutional exchanges would promote cooperation and mutual respect.
“Through these strategic instruments of cooperation, we are translating political goodwill into tangible, life-changing projects that will benefit the people and economies of both our nations,” Mnangagwa said.
He thanked all the institutions involved “for their shared vision and commitment.”
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