Africa Export-Import Bank (Membership of Zimbabwe and
Branch Office Agreement) Act, 2005
NOW, THEREFORE, be it enacted by the President and the Parliament of Zimbabwe as
follows:—
1
Short title
This Act may be cited as the African Export-Import Bank (Membership of Zimbabwe and
Branch Office Agreement) Act, 2005.
2
Interpretation
In this Act—
"Bank" means the African Export-Import Bank ("Afreximbank") established by the Bank
Agreement;
"Bank Agreement" means the Agreement for the Establishment of the African ExportImport Bank ("Afreximbank") signed in Abidjan, Ivory Coast, by African States and
certain International Organisations on the 8th of May, 1993;
"Branch Office Agreement" means the agreement regarding the location of the branch
office of the Bank concluded in accordance with Article V.4 of the Bank Agreement;
"Memorandum of Understanding" means the Memorandum of Understanding between the
Government of the Republic of Zimbabwe and the Bank concerning—
(a) the grant of the use and occupancy of a temporary Branch Office of the Bank and
related facilities until such time as the Bank constructs a permanent Branch Office
building, and related facilities; and
(b) the transfer by the Government of the Republic of Zimbabwe of title to a parcel of
land in Harare, Zimbabwe, to the Bank for the construction of the permanent
Branch Office of the Bank;
"Minister" means the Minister of Finance or any other Minister to whom the President
may, from time to time, assign the administration of this Act.
3
Provisions of Bank Agreement to have force of law
All the provisions of the Bank Agreement shall have the force of law in Zimbabwe,
including in particular (but without prejudice to the generality of the foregoing) the provisions
set out in the First Schedule:
Provided that nothing in Article XIV of the Bank Agreement shall be construed as—
(a) entitling the Bank to import goods free of customs duty without any restriction on their
subsequent sale; or
(b) conferring on the Bank any exemption from duties or taxes which form part of the
price of goods sold; or
(c) conferring on the Bank any exemption from taxes which are in fact no more than
charges for public utility services which are payable by other international
organisations situated or represented in Zimbabwe.
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