SA may help fund Zim elections
17 April 2013, 08:13
Johannesburg - South Africa is in discussions on whether to help cash-strapped Zimbabwe fund its presidential and parliamentary elections, the National Treasury said on Tuesday.
"South Africa and Zimbabwe are in discussion on whether the country will give Zimbabwe any financial assistance," spokesperson Phumza Macanda said.
"We really don't have much to go on because the discussions are at a sensitive stage. The terms and conditions of whatever financial assistance are being discussed and we don't have any details of the loan."
On Monday, Zimbabwean finance minister Tendai Biti said his treasury did not have the capacity to fund the elections and that his country needed about R1.2bn for the elections.
Biti said the Zimbabwean government wrote to the United Nations, South Africa and Angola to ask for loans.
He was reported later on Monday as saying South Africa would contribute R900m.
The elections are scheduled to be held in June.