By Tendai Chisiri
CAIRO – African Export-Import Bank has extended a US$15 million SME Finance Facility to Ecobank Zimbabwe Limited under its Export SME Development Programme, aimed at expanding financing for small and medium enterprises in export value chains.
The facility will provide working capital and capital expenditure financing to SMEs operating in agribusiness, manufacturing, healthcare, logistics, technology, and the creative economy. It builds on a partnership between the two institutions dating back to 2018.
“Enterprises that form the productive backbone of Zimbabwe’s economy, yet remain chronically underserved by conventional lending, will have access to financing,” Afreximbank said in the announcement.
Ms. Oluranti Doherty, Managing Director for Export Development at Afreximbank, said the facility exemplifies the type of “high-additionality, high-impact intervention” the ESDP was designed to deliver.
“This facility with exemplifies the kind of high-additionality, high-impact intervention that the ESDP was designed to deliver, addressing market failures that commercial finance alone cannot resolve, and building the productive capacity of enterprises that are central to Africa’s trade transformation,” Doherty said.
She added that the support goes beyond credit to equip and connect SMEs for sustainable growth in intra-African trade and regional value chains.
“Through the ESDP, we are ensuring that each beneficiary SME is not only funded but equipped, connected, and positioned to grow sustainably,” she said.
The funding will be channelled through Ecobank Zimbabwe as a licensed financial intermediary, combining Afreximbank’s trade finance expertise with Ecobank’s local footprint. Of the proceeds, 43.75% will support intra-African trade activities and 18% will go to manufacturing, in line with Afreximbank’s focus on industrialisation and regional trade integration.
Beyond financing, Afreximbank will provide capacity-building for sub-borrowers in operations and financial management, loan management, export readiness, marketing, and digitalisation to strengthen credit quality and export participation.
Moses Kurenjekwa, Managing Director of Ecobank Zimbabwe Limited, said the facility aligns with the bank’s commitment to unlocking SME potential.
“Ecobank Zimbabwe Limited is proud to partner with Afreximbank on this facility, which speaks directly to our commitment to unlocking the potential of Zimbabwe’s SME sector. Small businesses are the engine of our economy, and access to appropriate, export-linked financing is what enables them to grow, create jobs, and compete regionally,” Kurenjekwa said.
SMEs account for more than 60% of Zimbabwe’s GDP and over 70% of employment, though access to long-tenor, export-linked financing has remained a constraint. The facility arrives as Zimbabwe’s GDP growth is forecast at 6% for 2025, driven by improved agricultural output and strong gold prices.
The ESDP combines capital, capacity, and connectivity, working through partners like Ecobank Zimbabwe to equip businesses to become competitive and export-capable.
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