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Zimbabwe: African Development Bank approves $8.25 million loan to food producer Olivine Industries

The Board of Directors of the African Development Bank Group has approved a $8.25 million corporate loan to Olivine Industries Limited to support the company’s food production expansion plan in Zimbabwe.

The Bank’s loan, approved on Wednesday, will enable the company to construct new processing plants for margarine and tomato sauce and install upgraded machinery with advanced technologies. Olivine plans to increase its domestic and regional production capacity and food supply.

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