Support from the
The Board of Directors of the
This is AfDB's first project with NMB, a registered commercial bank with strong SME credentials. This facility will provide 100% guarantee to international confirming banks (CBs) for the non-payment risk they take on NMB's trade finance transactions conducted on behalf SMEs and local corporates active in agri-business and trade distribution value chains in
AfDB's Zimbabwe Country Manager Moono Mupotola noted that SMEs and other domestic firms have a harder time accessing trade finance than multinational corporates and large local corporates. "This transaction guarantee facility is therefore a timely and strategic tool that will enhance correspondent banking relationships for NMB and, in the process, help reduce
"This trade intervention speaks to the AfDB's trade finance program objectives to support SMEs, women-owned businesses, farmers, and local enterprises/local corporates on the continent by connecting them into key value chains regionally and globally," said
About NMB Zimbabwe: NMB was established in 1992 by a group of Zimbabwean entrepreneurs and is listed on the
Contact:
Media Contact:
Technical Contacts:
Bleming Nekati, Regional Lead, Private Sector
Samson Kasuka, Senior Investment Officer - Trade Finance/Financial Sector
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