The African Export-Import Bank (Afreximbank) has strengthened its commitment to Zimbabwe’s economic growth by approving financing facilities worth $190 million for CBZ Bank Limited. The funding package is expected to improve access to trade finance, support small and medium-sized businesses, and contribute to energy development, reinforcing Zimbabwe’s position in regional and continental trade. The announcement was made during a signing ceremony held in El Alamein, Egypt.
The largest share of the financing, a $150 million revolving trade finance facility, will enable CBZ Bank to provide funding and letters of credit to businesses involved in international trade. By easing access to finance, the facility aims to help Zimbabwean companies overcome long-standing trade financing challenges while encouraging exports and expanding commercial activities across Africa. In addition, a $20 million dual-tranche SME finance facility will enhance the bank’s ability to support small and medium-sized enterprises engaged in trade and other business activities, giving entrepreneurs greater opportunities to grow and compete.
Afreximbank and CBZ Bank also signed another $20 million dual-tranche on-lending facility designed to improve energy security in Zimbabwe and the Southern African Development Community (SADC) region. The funding will support projects aimed at reducing electricity shortages and increasing power stability, while positioning CBZ Bank to participate in a broader $210 million syndicated financing facility for the Zimbabwe Electricity Transmission and Distribution Company. Reliable energy infrastructure is expected to play a vital role in supporting industrial production and long-term economic development.
Speaking during the event, CBZ Bank Managing Director Valeta Mthimkhulu said the partnership reflects the bank’s commitment to supporting exporters, entrepreneurs, and businesses that drive national development. She noted that beyond expanding access to finance, the collaboration would contribute to strategic priorities such as energy development and economic transformation. Afreximbank Executive Vice President for Global Trade Bank, Haytham Elmaayergi, added that the facilities would strengthen export-oriented businesses, generate much-needed foreign exchange, reduce pressure on foreign currency reserves, and stimulate sustainable economic growth in Zimbabwe.
Beyond the financing agreements, Afreximbank’s subsidiary, the Africa Trade and Distribution Company Limited (ATDC), launched National ATDC Zimbabwe and National ATDC Malawi as part of its strategy to deepen intra-African trade. The Zimbabwe platform will focus on commodity aggregation, export development, logistics, warehousing, trade intelligence, and support for SMEs, while the Malawi platform will provide commodity trading, structured trade finance, cold-chain logistics, and value-addition services. These launches follow the establishment of ATDC Egypt earlier this year, marking another significant step toward building stronger African supply chains and boosting trade across the continent.
source: kenyanwallstreet
