In May 2016, the Reserve Bank of Zimbabwe introduced an export incentive scheme to promote the export of goods and services in order for the economy to benefit from the liquidity derived from exports. As some mining companies begin to report on their earnings, it is becoming evident that the export incentive has been beneficial to them.

Asa Resources owned Freda Rebecca Mine reported earning $1.3m from the export incentive. Zimplats has reported earning $6.6 million from the same export incentive.

What is not clear is the extent to which the export incentive has resulted in increased production and exports. As an example, the increase in platinum and 4E production at Zimplats for the half year ending December 2016 was only marginal at 4% and this is  during the period when the export incentive kicked in. The export incentive does not seem to be tied to production…

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