ZB Bank secures US$30m
LIVINGSTONE MARUFU
ZB Bank Limited has secured a US$30 million line of credit during the first half of the year from African lending institutions, aimed at on-lending to productive sectors and small and medium enterprises (SMEs).
The bank is targeting an additional US$30m by year-end, aiming to expand trade finance and provide direct, cheaper funding to SMEs rather than relying on big companies as intermediaries.
The facilities come primarily from Development Finance Institutions (DFIs) such as Trade and Development Bank (TD Bank) and African Export–Import Bank (Afreximbank), enabling customised financing for exporters and strategic sectors including agriculture, manufacturing, and mining.
The funding will support both working capital and capital expenditure needs.
ZB Bank CEO Elisha Chibvuri told Business Times,that the credit lines will be instrumental in broadening trade finance support across Zimbabwean businesses.
“We have secured US$30m credit lines during the first half of the year and we expect to secure other lines of credit worth US$30m to close the year at US$60m,” Chibvuri said.
“We got US$25m from TD Bank for exporters in agriculture value chain, horticulture, mines, manufacturers, tourism industry players. Then US$5m facility from Afreximbank for SMEs in export business in various sectors. From that money, working capital facilities are between one and two years, and CAPEX facilities up to five years,” he added.
Chibvuri said the bank will monitor how the facility drives SME growth and sector expansion, noting that it accommodates both working capital and capital expenditure requirements over a five-year tenure.
“What has been happening is that we have big companies that are getting funding and on-lending to small business players. This facility allows the SMEs to come directly to the bank and get cheaper funding. The cycle they fund themselves would be much quicker,” he said.
ZB Bank is also in discussions with Afreximbank to increase the facility to US$20–25 million and is confident of securing another line before year-end. The US$5 million envelope represents Afreximbank’s first SME-focused facility in Zimbabwe and the third overall facility ZB Bank has obtained from the lender.
While satisfied with the progress, Chibvuri said the bank is targeting additional lines of credit in the second half of 2025.
“In H2 we are targeting lines of credit to fund mortgages and property development, and those in import business with credible US$ foreign and local sales,” he said.
During the period under review, ZB Bank launched its new core banking system, Fusion Essence, a project that had been in development for several years and was commissioned in FY2024, delivered at the start of FY2025.
Financially, ZB Bank posted a profit after tax of ZWG0.346bn for the six months ending June 30, 2025, a 143% increase from ZWG0.142bn in the same period of 2024. Total assets grew 25%, from ZWG10.36bn as at December 31, 2024, to ZWG12.94bn as at June 30, 2025.
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