NMB Zimbabwe, has secured a US$15 million trade finance transaction guarantee facility to unlock trade finance opportunities for small to medium enterprises and other key sectors of the economy.
In a statement accompanying the company’s first quarter trade update, the financial service institution’s secretary, Violet Mutandwa, said the group will continue to focus on its core business and expand its footprint in all identified growth sectors of the economy.
“The African Development Bank (AfDB) and the group’s banking subsidiary NMB Bank Limited, signed a US$15 million Trade Finance Transaction Guarantee Facility to unlock trade finance opportunities for small and medium-sized enterprises and those in the agri-business and trade distribution value chains,” Mutandwa said
The financing facility was signed during the first quarter ended 31 March 2024.