George Guvamatanga

George Guvamatanga is a Zimbabwean technocrat and banker who was born in 1971. He currently serves as the Permanent Secretary of the Ministry of Finance and Investment Promotion of Zimbabwe. Guvamatanga’s humble upbringing was spent in Kambuzuma, one of the highest density suburbs of Harare where his parents settled in pursuit of a better life and educational opportunities for their children. He was appointed in September 2018 as the ministry's permanent secretary. Quotes Banks will lend to companies that have demonstrably strong cash flows. Some companies have been able to access loans at reasonable rates, so it’s not always a matter of liquidity but of leadership Barclays Bank to breathe life into companies,1 June 2014 Currently the Zimbabwean banking sector is characterised by slightly above US$4 billion in deposits of which above 70% are transitory in nature. This on its own is a major handicap of the banking sector to be able to finance mining sector. It is out of these little resources that all sectors require a share The local money markets have failed to take off meaningfully, with local capital market, that is, ZSE also failing to provide an adequate platform for fundraising for economic development. This then calls for the economic players to strategise and look at means of accessing finance from outside the country. We have seen big corporates including Bindura Nickel Corporation taking this route However, in the liquidity constrained environment characterising the country, banks in Zimbabwe are not in a position to meet the capitalisation needs of many players in the mining sector It is imperative to look at the alternative sources of financing to circumvent the liquidity challenges affecting the country The ability of the mining sector to access financing in a depressed economy like the one currently characterising the country requires that the mining companies be innovative and look beyond the border The ability of the sector to attract financing requires that the laws governing mining in the country be transparent and investor friendly ‘Banks have no capacity to support companies’,27 July 2014 External links Category:1971 births Category:Living people Category:Politicians from Zimbabwe