$300 million more bond notes month end

RBZ is set to introduce a new $300 million export incentive facility at the end of this month, as it accelerates efforts of generating the much needed foreign currency.

The $300 million facility, which will come in the form of bond notes has been arranged by the Afreximbank.

This facility will take the bond notes in circulation to $500 million, after the Afreximbank supported the first $200 million facility which the market in November last year.

RBZ Governor John Mangudya said that the intervention is in tandem with the central bank's drive to grow the production base, and diversify the export sector so as to reduce risks associated with over-reliance on a few export products.