Proparco has signed a USD 15 million senior credit facility with NMBZ to support SME exporters in the agri-food sector. This financing qualifies for the 2X Challenge, an initiative aimed at empowering women economically, and is backed by the European Union’s EFSD+ MSME Plus Platform guarantee program, designed to improve access to finance for SMEs in agriculture.
In addition to the credit facility, Proparco has approved a USD 5 million EURIZ portfolio guarantee and a USD 5 million Trade Finance Guarantee. The EURIZ guarantee, also supported by the EU, focuses on mitigating risks for SMEs in Zimbabwe, particularly women-owned businesses in agriculture. The trade finance guarantee will help NMB Bank bolster its support for local businesses importing essential goods, including food and agricultural inputs.
The partnership is designed to address key challenges faced by Zimbabwean banks, such as limited access to USD-denominated finance and trade finance. Proparco’s intervention combines liquidity support and risk-sharing mechanisms, allowing NMB to expand its reach and support a broader range of customers.
Gerald Gore, CEO of NMBZ, emphasised the facility’s role in bolstering Zimbabwe’s agribusiness sector, particularly women-run businesses and youth enterprises. Steven Gardon, Proparco’s Regional Director for Southern Africa, highlighted the alignment of the project with Proparco’s commitment to fostering sustainable and resilient economies.
This collaboration will contribute to achieving the United Nations’ Sustainable Development Goals, including SDG 5 (Gender Equality), SDG 8 (Decent Work and Economic Growth), and SDG 10 (Reduced Inequalities).
For more information on NMBZ visit www.nmbz.co.zw
