Zimbabwe’s CBZ Bank secures $190 million Afreximbank funding boost

Zimbabwe’s largest commercial lender, CBZ Bank, has secured $190 million in financing from African Export-Import Bank (Afreximbank), strengthening its ability to support trade, small businesses and energy infrastructure while reinforcing Zimbabwe’s economic growth ambitions.

The funding package was signed in El Alamein, Egypt, through three separate financing agreements between Haytham Elmaayergi, Executive Vice President of Global Trade Bank at Afreximbank, and Valeta Mthimkhulu, Managing Director of CBZ Bank Limited.

Trade finance takes center stage

The largest portion of the package is a $150 million revolving trade finance facility, which will enable CBZ Bank to expand funding and letters of credit for businesses across Zimbabwe. 

The facility is expected to ease trade finance constraints, improve access to working capital and support exporters, importers and manufacturers operating in key sectors of the economy.

The agreement strengthens CBZ Bank’s role in financing businesses that contribute to export growth and foreign exchange earnings while helping narrow Africa’s trade finance gap.

Funding for SMEs and energy projects

A further $20 million dual-tranche SME finance facility will increase CBZ Bank’s lending capacity for small and medium-sized enterprises engaged in trade and related industries. Beyond financing, the facility also supports capacity building aimed at improving SME competitiveness.

The institutions also agreed on a $20 million dual-tranche on-lending facility to support power infrastructure. The financing positions CBZ Bank to participate in an approved $210 million syndicated dual-tranche facility for the Zimbabwe Electricity Transmission and Distribution Company, supporting efforts to improve electricity reliability in Zimbabwe and the wider Southern African Development Community (SADC).

Supporting Zimbabwe’s vision 2030

CBZ Bank Managing Director Valeta Mthimkhulu said the agreements strengthen the bank’s ability to provide financing solutions for exporters, corporates and small businesses while supporting strategic national priorities, including energy development.

Haytham Elmaayergi said the facilities would directly and indirectly support export-oriented companies, generate foreign exchange and reduce pressure on Zimbabwe’s foreign currency market. 

He added that the $150 million revolving trade finance facility would benefit productive sectors across the economy and contribute to Zimbabwe’s Vision 2030 objective of becoming an upper-middle-income economy.

Afreximbank and CBZ Bank expand long-term growth strategy

Afreximbank is a pan-African multilateral financial institution dedicated to financing and promoting intra-African and global trade. As of December 2025, the bank reported more than $48.5 billion in total assets and contingencies and $8.4 billion in shareholder funds. 

Working with the African Continental Free Trade Area (AfCFTA) Secretariat and the African Union, it has also established a $10 billion Adjustment Fund to help member states maximize opportunities under the AfCFTA.

Established in 1980, CBZ Bank Limited is the flagship subsidiary of listed CBZ Holdings, Zimbabwe’s diversified financial services group. The bank provides retail and corporate banking, mortgage finance, treasury services, trade finance and asset management, while the wider group also operates in insurance, securities trading and property investment.