Afreximbank & Ecobank Finance SMEs to Boost Zimbabwe’s Economy
Afreximbank Extends USD 15 Million Facility to Ecobank Zimbabwe Limited to Support Small and Medium Enterprises (SME) Participation in Export Value Chains
CAIRO -- African Export‑Import Bank (Afreximbank) (www.Afreximbank.com) has extended a USD 15 million SME Finance Facility to Ecobank Zimbabwe Limited under its Export SME Development Programme (ESDP).The facility will provide working capital and capital expenditure financing to Small and Medium Enterprises (SMEs) operating within export value chains across key sectors of the Zimbabwean economy, including agribusiness, manufacturing, healthcare, and logistics.
The funding represents the latest development in a partnership between the two institutions that dates to 2018 and reflects a shared commitment to expanding SME access to finance, deepening export value chains, and driving 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.
Commenting on the signing, Ms. Oluranti Doherty, Managing Director for Export Development at Afreximbank, said, “In Zimbabwe and across the continent, Afreximbank remains firmly committed to supporting SMEs as engines of export growth, economic resilience, and long-term development. 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. It therefore goes beyond providing credit; it is a structured commitment to building the capacity of enterprises that can drive Zimbabwe’s participation 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.”
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 percent of proceeds will support intra-African trade activities, while 18 percent 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, 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 percent for 2025, driven by improved agricultural output and strong gold prices. SMEs account for more than 60 percent of Zimbabwe’s GDP and more than 70 percent of national employment, yet access to long-tenor, export-linked financing has remained a persistent constraint on their growth and competitiveness.
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