Blow for Zimbabwe's Indian credit facility

Attempts by Zimbabwean companies to access $100 million credit line facility from the Indian government after a successful government to government deal in April have hit brick wall because of regime change in the country.

The credit line that was to be accessed by local companies was viewed as a panacea to the country's ailing industries against a backdrop of government failure to attract fresh capital into the economy.

Industry and Commerce minister Mike Bimha said that government will find ways of ensuring that the country's industrial sector is revitalized and fully equipped.

Bimha said companies were however utilising the fund in their individual capacities.