ZB to float $50m bond for urban tollgates

ZB Financial Holdings is in discussion with Harare City Council (HCC) to fund urban tollgates in the next few months to raise money for road rehabilitation and maintenance in and around the city.

ZB is prepared to fork out $50 million to the City Council depending on the local authority's repayment plans.

The deal, which is expected to kick off in the next months, will be the second of that nature after ZB successfully floated a $100 million bond to Zimbabwe National Road Administration (Zinara) last year.