Afreximbank has provided a $15 million SME Finance Facility to Ecobank Zimbabwe Limited, under its Export SME Development Programme (ESDP).
The facility will offer working capital and capital expenditure financing to SMEs across Zimbabwe’s export value chains, including agribusiness, manufacturing, healthcare, and logistics sectors.
Ecobank Zimbabwe Limited is a commercial bank licensed by the Reserve Bank of Zimbabwe and a subsidiary of Ecobank Transnational Incorporated (ETI), the pan-African banking group headquartered in Lomé, Togo, with a presence in more than 30 African countries. Ecobank Zimbabwe, established in 2002, offers a comprehensive range of financial products and services spanning personal banking, business banking, global banking, and agricultural finance, serving individuals, SMEs, large corporates, and institutional clients.
This funding continues a partnership since 2018, reflecting a shared commitment to expand SME access to finance, deepen export value chains, and drive inclusive economic growth in Zimbabwe.
Under the facility, enterprises that form the productive backbone of Zimbabwe’s economy, yet remain chronically underserved by conventional lending, will have access to financing. The programme is specifically targeted at SMEs operating across export value chains in key sectors, including agribusiness, manufacturing, logistics, technology, healthcare, and the creative economy, among others.
Oluranti Doherty, Managing Director for Export Development at Afreximbank, said Afreximbank remains firmly committed to supporting SMEs as engines of export growth, economic resilience, and long-term development in Zimbabwe and across the continent.
“This facility exemplifies the high-additionality, high-impact intervention the ESDP was designed to deliver. It addresses market failures that commercial finance alone cannot resolve and builds the productive capacity of enterprises central to Africa’s trade transformation. It’s more than just credit; it’s a structured commitment to building enterprise capacity, enabling Zimbabwe’s participation in intra-African trade and regional value chains. The ESDP ensures each beneficiary SME is not only funded but also equipped, connected, and positioned for sustainable growth.”
The facility is structured to channel Afreximbank’s development finance through Ecobank Zimbabwe Limited as a licensed financial intermediary, combining the Bank’s trade finance expertise with Ecobank’s extensive local footprint and client relationships. Some 43.75 per cent of proceeds will support intra-African trade activities, while 18 per cent will be directed towards manufacturing, reflecting Afreximbank’s focus on industrialisation and regional trade integration.
As part of its non-financial interventions under the ESDP, Afreximbank will also provide capacity-building support to SME sub-borrowers, covering operations and financial management, loan management, export readiness, marketing, and digitalisation. The integrated support is designed to enhance SME sustainability, strengthen credit quality, and enable stronger participation in export value chains.
For Ecobank Zimbabwe Limited, the facility significantly enhances its capacity to serve a segment of the market it recognises as vital to the country’s economic prospects. By channelling Afreximbank’s development finance through its existing SME product suite and advisory infrastructure, Ecobank Zimbabwe Limited will offer beneficiary enterprises not only financing but integrated financial and business advisory solutions, a combination that meaningfully raises the likelihood of SME success and export market penetration.
In his remarks, Moses Kurenjekwa, Managing Director of Ecobank Zimbabwe Limited, noted: “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. This collaboration brings together Afreximbank’s development finance mandate and our on-the-ground reach to deliver a solution that is both impactful and scalable. We look forward to walking this journey with Zimbabwe’s SMEs as they integrate into regional and continental trade value chains.”
Afreximbank Export SME Development Programme is a comprehensive ecosystem intervention that combines capital, capacity, and connectivity. By working through trusted partners like Ecobank Zimbabwe, the programme ensures that its resources reach the enterprises that need them most and that those businesses are equipped not just to access financing, but to use it to build genuinely competitive, export-capable businesses.
Positioned at the intersection of Southern Africa’s key trade corridors, the facility links the North-South Corridor connecting Dar es Salaam to Durban and the Beira Corridor between landlocked economies to Indian Ocean ports. The facility comes at a pivotal moment for the country’s economy, with GDP growth forecast at 6 per cent for 2025, driven by improved agricultural output and strong gold prices. SMEs account for more than 60 per cent of Zimbabwe’s GDP and more than 70 per cent of national employment, yet access to long-tenor, export-linked financing has remained a persistent constraint on their growth and competitiveness.
