Afreximbank Approves US$190 Million in Loans for CBZ Bank

By Tendai Chisiri

CAIRO — The African Export-Import Bank, Afreximbank, has concluded financing facilities totalling US$190 million for Zimbabwe’s CBZ Bank Limited, a move expected to support trade, small businesses and energy development in the country.

The three facility agreements were signed on 31 July 2026 in El Alamein, Egypt, by Haytham Elmaayergi, Afreximbank Executive Vice President, Global Trade Bank, and Valeta Mthimkhulu, Managing Director of CBZ Bank Limited.

US$150M for Trade Finance
The largest facility is a US$150-million revolving trade finance facility for CBZ Bank. It will enable the bank to provide funding and letters of credit support to companies across Zimbabwe, helping to bridge the trade finance gap.

Afreximbank said the facility will benefit several productive sectors and contribute to Zimbabwe’s Vision 2030 aspiration of becoming a prosperous, upper-middle-income society.

US$20M for SMEs + US$20M for Energy
The second facility is a US$20-million dual-tranche SME finance facility. It is aimed at strengthening CBZ Bank’s capacity to support Small and Medium Enterprises engaged in trade and trade-related activities, including financing products and capacity building.

The third is a US$20-million dual-tranche on-lending facility to help reduce power deficits and increase power stability in Zimbabwe and the SADC region. This positions CBZ Bank to participate in an approved US$210-million syndicated facility for the Zimbabwe Electricity Transmission and Distribution Company.

Supporting Growth and Forex Generation
Mr. Elmaayergi said the facilities will directly and indirectly support export-oriented businesses, helping to generate much-needed foreign exchange and ease pressure on foreign currency.

“Afreximbank’s SME and trade finance interventions centre around financing, legal and regulatory frameworks, awareness and capacity building, services, and strategic partnerships,” he noted.

CBZ Bank MD Valeta Mthimkhulu said the agreement better positions the bank to deliver financing solutions across 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 deal is expected to strengthen Zimbabwe’s access to trade finance, support job creation through SMEs, and improve power stability as part of broader regional integration efforts.