By ETimes
HARARE – The African Export-Import Bank (Afreximbank) has extended a US$50 million facility to CBZ Holdings and CBZ Bank to support the bank’s short-term financing needs.
The funding will be extended to corporates, particularly those involved in trade-related activities such as agro-processing, energy, telecommunications, manufacturing, mining, tourism, and transport.
This collaboration marks a significant milestone for Zimbabwe as it seeks to unlock trade financing and stimulate business activities across various sectors of the economy.
“As CBZ, we are committed to driving the success of economic growth and development of our country,” CBZ Holdings’ group chief executive officer Lawrence Nyazema said.
The funding is expected to boost liquidity in the market, providing much-needed financial support to productive sectors of the economy.
CBZ Holdings aims to secure US$500 million in credit lines this year to address the nation’s liquidity challenges and foster economic growth.
