Afreximbank Commits $190 Million to Zimbabwe's CBZ Bank in Trade and Energy Push

August 1, 2026
By Mintesinot Nigussie

African Export-Import Bank (Afreximbank) has signed financing agreements worth 190 million US dollars with Zimbabwe's CBZ Bank Limited to expand trade finance, strengthen support for small businesses and back electricity infrastructure, as the pan-African lender steps up efforts to address financing constraints and boost economic activity. The package comprises three facilities designed to increase CBZ Bank's capacity to finance businesses across Zimbabwe. The agreements were signed in El Alamein, Egypt, by Haytham Elmaayergi, Executive Vice President of Global Trade Bank at Afreximbank, and Valeta Mthimkhulu, Managing Director of CBZ Bank Limited.

The largest component is a 150 million US dollars revolving trade finance facility that will enable CBZ Bank to extend trade finance and issue letters of credit to companies across Zimbabwe, helping narrow Africa's trade finance gap and support cross-border commerce. The remaining financing consists of two 20 million US dollars dual-tranche facilities. One is dedicated to small and medium-sized enterprises engaged in trade and related activities, combining financing with capacity-building support. The other will help fund power-sector investments by positioning CBZ Bank to participate in an approved syndicated facility worth 210 million US dollars for the Zimbabwe Electricity Transmission and Distribution Company. The financing is intended to reduce electricity shortages and improve power stability in Zimbabwe and the Southern African Development Community region.

Haytham Elmaayergi said the facilities would support export-oriented businesses directly and indirectly, helping generate foreign exchange earnings while easing pressure on foreign currency availability in Zimbabwe. He said Afreximbank's trade finance and SME programmes extend beyond lending to include legal and regulatory support, awareness initiatives, capacity building and strategic partnerships.

"The 150 million US dollars 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 society by 2030," Elmaayergi said. Valeta Mthimkhulu said the agreements would strengthen CBZ Bank's ability to deliver financing solutions to businesses of different sizes. "Through this agreement, CBZ is better positioned to deliver financing solutions that unlock opportunities for our clients across the spectrum. From exporters to small businesses, we are committed to enabling growth while contributing to key national priorities, including energy development," she said.

Source: FSX Business News