CBZ secures US$50m line of credit
CBZ Holdings Limited has secured a US$50 million trade and working capital line of credit from the African Export-Import Bank (Afreximbank) to support corporates and SME entities involved in export-oriented businesses.
The landmark agreement was signed on the sidelines of the Investing in African Mining Indaba 2025, which was held in Cape Town, South Africa on Wednesday under the theme “Building a unified African mining value chain: Enhancing best practice”.
CBZ’s move is part of broader efforts to mobilise resources for the economy, leveraging its strong balance sheet and reputation as a leader in the financial services sector.
This substantial financial boost aims to empower export-oriented corporates and Small to Medium-sized Enterprises (SMEs) that operate within the mining, agro-processing, energy, manufacturing, services, tourism and logistics value chains.
The financing facility aims to address the short-term trade financing needs of these businesses, enabling them to capitalise on emerging opportunities, stimulating their growth in the process.
Access to this essential funding will allow these entities to strengthen their operational capacity, enhance productivity and ultimately strengthen their competitive position in the global market.
Through this targeted support, the programme aspires to foster innovation, increase export volumes and contribute to the overall economic development of the region.
“CBZ Bank Limited -signed a US$50 million trade and working capital line of credit with African Export-Import Bank (Afreximbank) to support corporates and SME entities that are export-oriented in the mining value chain, Agro-processing, energy, manufacturing, services, tourism and logistics among others to finance their short-term trade financing requirements,” said CBZ Holdings Executive Director Phibeon Mutibura.
This strategic partnership between CBZ Bank Ltd. and Afreximbank is poised to make a significant impact on Zimbabwe’s economy, fostering increased trade, investment and economic growth.
CBZ Chief Executive Officer, Lawrence Nyazema, is on record saying the group had an ambitious plan to secure US$500 million in credit lines in 2025 as the group moves to address Zimbabwe’s perennial liquidity challenges and provide vital support for economic growth.
The new target represents a significant scaling up of efforts to bridge the funding gap and stimulate economic development.
“Our target for 2025 is at least half a billion US dollars and we believe if we manage to raise a significant portion of that target, the liquidity challenges that everybody likes talking about will be a thing of the past,” said Nyazema.
In 2024, CBZ Holdings managed to raise around US$185 million in lines of credit from strategic partners including the Africa Export-Import Bank (Afrexim-bank), Shelter Afrique and TDB Bank, to meet the economy’s growing funding demands.
Shelter Afrique’s facility to CBZ Bank was targeted at financing the construction of residential housing units and financing mortgages.
CBZ Holdings recognises that more needs to be done to meet the economy’s financing demands and has strategically relocated its SME banking operations from the corporate banking division to the retail banking division.
This move aims to expand SMEs’ access to banking services, leveraging the retail division’s extensive network of over 50 branches nationwide.
Previously, SME banking operations were centralised within the corporate banking division, which has only three locations. The relocation is expected to enhance convenience, visibility, and overall banking experience for SME customers.-bsienssweekl
