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African Export-Import Bank (Afreximbank) has concluded financing facilities totalling $190 million for CBZ Bank Limited of Zimbabwe, spread across three separate agreements signed in El Alamein, Egypt.
The announcement comes a couple of days after Afreximbank, through its Creative Africa Nexus (CANEX) programme, partnered with Gebeya, an Addis Ababa-based technology company, to launch the CANEX Create-thon 2026, a competition for African creators across music, video, and gaming with a total prize pool of $50k.
The package is designed to strengthen CBZ Bank’s capacity to provide financing products to companies across Zimbabwe.
The largest component is a $150 million revolving trade finance facility that will enable CBZ Bank to provide funding and letters of credit support to companies in the country.
A second facility worth $20 million, structured as a dual-tranche SME finance facility, will support small and medium enterprises engaged in trade and trade-related activities through both financing products and capacity building.
The third agreement covers a $20 million dual-tranche on-lending facility aimed at reducing power deficits in Zimbabwe and the wider SADC region, positioning CBZ Bank to participate in an approved $210 million syndicated facility for the Zimbabwe Electricity Transmission and Distribution Company.
“The $150 million revolving trade finance facility will benefit several productive sectors in Zimbabwe, contributing to the country’s Vision 2030 aspiration: towards a prosperous and empowered upper-middle-income society by 2030,” said Haytham Elmaayergi, executive vice president of global trade bank at Afreximbank.
Elmaayergi noted that the facilities directly and indirectly support export-oriented businesses within Zimbabwe, helping generate foreign exchange and easing pressure on foreign currency, which in turn supports broader economic growth in the country.
“Through this agreement, CBZ is better positioned to deliver financing solutions that unlock opportunities for our clients across the spectrum. From exporters to small businesses, we are committed to enabling growth while contributing to key national priorities, including energy development,” said Valeta Mthimkhulu, managing director of CBZ Bank Limited.
Afreximbank is a pan-African multilateral financial institution with total assets and contingencies exceeding $48.5 billion as of December 2025. The bank holds investment-grade ratings from S&P Global Ratings, Moody’s, and Japan Credit Rating Agency, among others, and is headquartered in Cairo.
