The Zimbabwean Minister of Finance and Economic Development, Professor Mthuli Ncube says that the country has the potential to “mobilise 70% of funding needed to finance key infrastructure projects on the domestic market, a situation that would lessen the burden of external debt payments on the State.” Zimbabwe is currently battling to repay $6.9 billion in external debt of which nearly $2 billion is arrears to global lenders. The arrears have resulted in the country missing
It has been estimated that $78 billion is required by countries in the East African Community to finance mega infrastructure projects.
This includes the construction of two major transnational roads funded by the African Development Bank - the $322 million Rumonge-Gitaz and Kabingo-Kasulu-Manyovu road-upgrading project and the Malindi-Mombasa-Lunga Lunga/Horohoro-Tanga-Bagamoyo highway (Kenya to Tanzania). This 460km highway is budgeted to cost $751.3 million, with 70% bor