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Zimbabwe’s largest financial institution, CBZ Bank, has secured US$190 million in financing from the African Export-Import Bank (Afreximbank) in a move expected to strengthen trade finance, expand support for small businesses and improve financing for energy infrastructure projects.
The funding package, announced by Afreximbank on Friday, comprises three separate facilities that will enhance CBZ Bank’s ability to finance businesses across key sectors of Zimbabwe’s economy.
The agreements were signed in El Alamein, Egypt, by Afreximbank Executive Vice President for Global Trade Bank Haytham El Maayergi and CBZ Bank Managing Director Valeta Mthimkhulu.
The largest component of the package is a US$150 million revolving trade finance facility, which will enable CBZ Bank to provide funding and letters of credit to Zimbabwean companies engaged in local and international trade. The facility is expected to help narrow the country’s trade finance gap while improving access to foreign trade financing.
A further US$20 million dual-tranche facility has been earmarked to strengthen financing for Small and Medium Enterprises (SMEs) involved in trade and related business activities. Beyond providing funding, the facility also includes capacity-building initiatives aimed at improving the growth prospects of smaller businesses.
The remaining US$20 million will support energy financing through an on-lending facility that positions CBZ Bank to participate in a US$210 million syndicated financing arrangement for the Zimbabwe Electricity Transmission and Distribution Company (ZETDC). The initiative is intended to help reduce electricity shortages and improve power stability in Zimbabwe and the wider Southern African region.
Commenting on the agreements, Haytham El Maayergi said the facilities would support export-oriented businesses by improving access to trade finance while helping generate foreign currency earnings for Zimbabwe.
“The US$150 million revolving trade finance facility will benefit several productive sectors in Zimbabwe, contributing to the country’s Vision 2030 aspiration towards a prosperous and empowered upper-middle-income economy,” he said.
CBZ Bank Managing Director Valeta Mthimkhulu said the partnership strengthens the bank’s ability to provide financing solutions across different segments of the economy.
“From exporters to small businesses, we are committed to enabling growth while contributing to key national priorities, including energy development,” she said.
The financing package comes as Zimbabwe continues to seek greater access to affordable capital to stimulate industrial production, expand exports and improve infrastructure. Trade finance remains one of the biggest constraints facing many African businesses, particularly SMEs that often struggle to secure funding for cross-border transactions.
For CBZ Bank, the agreement further reinforces its position as a key financier of Zimbabwe’s productive sectors, while giving businesses improved access to capital needed for trade expansion, enterprise growth and strategic infrastructure development.
The latest development follows another milestone for the bank after it was recently named Best Bank in Zimbabwe at the Euromoney Awards for Excellence 2026, underscoring its growing regional recognition and continued role in supporting Zimbabwe’s economic development.
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