Afreximbank Injects $190 Million Into Zimbabwe’s CBZ Bank

The bulk of this capital, a $150 million revolving facility, targets the country's trade finance deficit. By providing letters of credit and direct funding, the agreement helps export-oriented firms secure foreign exchange, alleviating persistent currency pressures. Haytham Elmaayergi, Executive Vice President at Afreximbank, emphasized that the funding is designed to integrate Zimbabwean businesses more deeply into regional and international supply chains.

Beyond trade, the package includes two $20 million tranches. The first focuses on small and medium-sized enterprises, offering not just liquidity but capacity-building support to improve productivity. The second tranche serves as an on-lending mechanism for energy infrastructure. This capital positions CBZ Bank to participate in a larger $210 million syndicated facility for the Zimbabwe Electricity Transmission and Distribution Company, a critical step toward reducing power shortages across the Southern African Development Community region. Managing Director Valeta Mthimkhulu stated the move allows the institution to expand its reach across key national sectors, from industrial manufacturing to power reliability.