Zimbabwe Independent During his visit Mnangagwa met several officials from the Communist Party of China (CPC), including Vice-President Li Yuanchao, in need of help. by Elias Mambo
'Mnangagwa reportedly pleaded with the Chinese to assist with funds,
but just like President Robert Mugabe who visited the country in August
last year, came back empty-handed.
'The loans the Chinese are concerned about include the US$150m given
to the Civil Aviation Authority of Zimbabwe in 2013, US$200m loan used
to procure farming equipment (2011), a US$51m extended to the Grain
Marketing Board (2012) and US$70m advanced to the Central Intelligence
'China also extended a US$36m loan to Zimbabwe after then
vice-president Joice Mujuru approached the Chinese in 2013. Recently,
Zimbabwe received digitalisation equipment worth US$3m as it futilely
sought to beat the June 17 International Telecommunication Union’s
deadline to migrate from analogue to digital broadcasting and US$218m
for NetOne expansion.
'Sources who accompanied Mnangagwa said the Chinese kept questioning
Zimbabwe’s capacity to repay the loans since it had already defaulted on
'Sinosure, an insurance company which guarantees all
government-to-government loans involving the Chinese, was also
reportedly refusing to guarantee further loans to Zimbabwe.'