The African Capacity Building Foundation is working with the Zimbabwean Ministry of Finance and the country's Reserve Bank to aid Zimbabwe in addressing its liquidity challenges, Emmanuel Nnadozie, the ACBF executive secretary, told Sputnik.
MOSCOW (Pakistan Point News / Sputnik - 28th August, 2018) The African Capacity Building Foundation is working with the Zimbabwean Ministry of Finance and the country's Reserve Bank to aid Zimbabwe in addressing its liquidity challenges, Emmanuel Nnadozie, the ACBF executive secretary, told Sputnik.
"As you know, one of the greatest challenges facing the country now is to ensure that it deals with the cash crunch and the cash problems that it does have. So [the ACBF] are working with the Ministry of Finance and the Reserve Bank of Zimbabwe to see how we can help in better understanding and addressing this challenge," Nnadozie said.
The ACBF was ready to work with Zimbabwe's government on any issues having to do with economic growth that the country found interesting, Nnadozie added.
"We stand ready to begin to strengthen the economic systems and governance, as well as any other area that the government might identify as being a priority for them," the ACBF official said.
According to Nnadozie, other challenges to growth that the Zimbabwean economy is currently facing are the necessity to revitalize various sectors of the economy, including agriculture, through increased female and youth employment, and the need to reduce the country's budget deficit.
Nnadozie called on the international community to lift sanctions on post-election Zimbabwe to aid in its economic prosperity, especially since the United States maintained travel and financial sanctions on Zimbabwe's senior ruling party members, including President Emmerson Mnangagwa.
"I think the elections are over now; this is a time for the international community to remove all the sanctions that they have on Zimbabwe and come to support this country to move forward and address all of these economic challenges," Nnadozie said.
Nnadozie noted that the ACBF was looking forward to working together to improve the economic well-being of the country as well as its stability, now that Zimbabwe has sworn in President Mnangagwa.
"We are very pleased to note that the elections went well and have ended and that the results are out and the president has been sworn in yesterday. So we are looking forward to a more prosperous and a more stable and peaceful Zimbabwe," Nnadozie said.
Mnangagwa took the oath of office in the Zimbabwe's capital of Harare, following the unsuccessful court case filed by the main opposition party, the MDC Alliance, with the country's Constitutional Court, in a bid to annul the results of the July 30 parliamentary and presidential elections.
Along with the presidency, Mnangagwa's ruling Zimbabwe African National Union - Patriotic Front (ZANU-PF) secured an absolute majority in the National Assembly with 144 seats.
