NMB Bank & Rabo Partnerships join forces to boost the agribusiness in Zimbabwe
NMB Bank Zimbabwe and Rabo Partnerships entered into a multiyear partnership aimed at supporting the bank to become a dominant player in the food and agribusiness sector and to play a catalyst role in the development of the agricultural ecosystem.
Zimbabwe possesses an expansive and largely untapped food and agribusiness market, rich in natural resources and fertile arable land. Positioned in the sub-tropics of southern Africa the nation is uniquely poised for agricultural success. This sector plays a crucial role in Zimbabwe’s socio-economic landscape, serving as a major employer for a significant portion of the population and a cornerstone for ensuring national food security. With the agricultural sector consistently contributing around 12% to the annual GDP and representing 16% of the country’s export earnings, its significance is undeniable.
Gerald Gore, CEO of NMB Bank, reveals the bank’s ambitious endeavour to solidify its position as a prominent player in the food and agriculture sectors. “Our goal is to facilitate access to financing within both the wholesale markets and among smallholder farmers, a commitment we are wholeheartedly dedicated to achieving in the years ahead. In the initial phase of our endeavour, NMB will establish strategic partnerships within key segments, including horticulture, grain & oilseeds, as well as dairy and poultry value chains. These partnerships will not only bolster our presence but also extend our support to encompass market identification. Leveraging our robust digital capabilities, NMB aims to go beyond traditional banking services. We aspire to provide premium support and services, empowering farmers on the fields as well as connecting them to international markets,” he said.
“Given how central agriculture is to the Zimbabwean economy, in Rabo Partnerships, we have found a great partner, not only critical to the bank, but to the country. We view this partnership as transformational to the agriculture sector and we are positive that over the next three years, we will position ourselves to be a significant player in this sector,” said Mr Gore.
Mrs. Juliette Hensgens, Senior Project Manager at Rabo Partnerships, and Program Lead stated that it is impressive to see the enormous potential in the food & agribusiness market and NMB is well positioned to service this important sector. “We cannot wait to join forces to realise NMB’s ambition to become a key player in this sector,” she concluded.
For more information on NMBZ visit http://www.nmbz.co.zw