Afreximbank Extends US$15 M SME Finance Facility to Ecobank Zimbabwe

The African Export-Import Bank (Afreximbank) has strengthened its commitment to Zimbabwe’s small business sector by extending a US$15 million SME Finance Facility to Ecobank Zimbabwe Limited under its Export SME Development Programme (ESDP). The financing initiative is expected to provide critical working capital and capital expenditure support to Small and Medium Enterprises (SMEs) operating within export-oriented value chains across Zimbabwe’s key economic sectors.

The facility targets enterprises involved in agribusiness, manufacturing, healthcare, logistics, technology, and the creative economy, among other industries. It is designed to address the persistent financing gap faced by Zimbabwean SMEs, many of which form the productive backbone of the country’s economy but remain underserved by traditional banking systems.

The latest funding arrangement builds on a partnership between Afreximbank and Ecobank Zimbabwe that dates back to 2018. Both institutions say the collaboration reflects a shared objective of improving SME access to finance, expanding export value chains, and supporting inclusive economic growth in Zimbabwe.

Strengthening Zimbabwe’s Export Economy

The financing programme comes at a critical time for Zimbabwe’s economy as the country seeks to strengthen industrial production and expand participation in regional trade under the African Continental Free Trade Area (AfCFTA).

A significant portion of the facility will directly support intra-African trade. According to Afreximbank, 43.75 percent of the proceeds will be allocated toward activities linked to trade within Africa, while 18 percent will specifically support manufacturing enterprises. The emphasis on manufacturing reflects the bank’s broader industrialisation strategy aimed at reducing Africa’s dependence on raw commodity exports and strengthening regional production networks.

Zimbabwe occupies a strategic position within Southern Africa’s trade architecture, connecting major trade corridors such as the North-South Corridor linking Dar es Salaam to Durban and the Beira Corridor connecting landlocked economies to Indian Ocean ports. Analysts believe improved SME financing could significantly enhance Zimbabwe’s ability to benefit from regional trade opportunities.

The facility also arrives amid improving economic projections for Zimbabwe. The country’s GDP growth is forecast at 6 percent in 2025, driven largely by stronger agricultural performance and favourable global gold prices.

SMEs at the Centre of Economic Growth

SMEs account for more than 60 percent of Zimbabwe’s Gross Domestic Product and provide over 70 percent of national employment. Despite their dominant role in the economy, many small businesses continue to face severe challenges accessing affordable long-term financing, particularly for export-oriented operations.

Limited access to export-linked funding has constrained the ability of SMEs to scale operations, modernise production processes, and compete effectively in regional and international markets.

Through the new facility, beneficiary businesses will gain access to financing tailored to support export activities and business expansion. The funding is expected to enable SMEs to purchase machinery, expand production capacity, improve logistics systems, and strengthen their participation in regional supply chains.

Afreximbank Highlights Trade Transformation Agenda

Speaking during the signing of the agreement, Ms. Oluranti Doherty, Managing Director for Export Development at Afreximbank, said the initiative demonstrates the bank’s continued commitment to positioning SMEs as engines of Africa’s export growth and economic resilience.

She noted that the facility represents more than a conventional credit programme, describing it as a strategic intervention aimed at correcting market failures that commercial lenders alone are often unable to address.

According to Doherty, the Export SME Development Programme is intended to ensure that African SMEs are not only financed but also equipped with the skills, networks, and operational capacity needed to compete sustainably in export markets.

She emphasised that the programme seeks to strengthen Zimbabwe’s participation in intra-African trade and regional value chains by supporting enterprises capable of driving industrial transformation and economic diversification.

Ecobank Zimbabwe Expands SME Support

The financing arrangement will be implemented through Ecobank Zimbabwe Limited, which will act as the licensed financial intermediary responsible for distributing the funds to qualifying SMEs.

Ecobank says the facility significantly enhances its ability to support Zimbabwe’s entrepreneurial sector through a combination of financing and business advisory services.

Under the programme, SMEs will not only receive access to capital but also integrated financial solutions and technical assistance designed to improve operational performance and export readiness.

Moses Kurenjekwa, Managing Director of Ecobank Zimbabwe Limited, described the agreement as a major step toward unlocking the full potential of Zimbabwe’s SME sector.

He said small businesses remain the foundation of Zimbabwe’s economy and require appropriate export-linked financing to expand operations, create employment opportunities, and compete within regional markets.

Kurenjekwa added that the collaboration combines Afreximbank’s development finance expertise with Ecobank’s local market presence, enabling the institutions to deliver scalable solutions capable of supporting Zimbabwe’s economic transformation.

Capacity Building to Complement Financing

A key component of the Export SME Development Programme is its focus on non-financial support for businesses.

In addition to credit facilities, Afreximbank will provide capacity-building programmes covering financial management, loan administration, export readiness, digitalisation, marketing, and operational efficiency.

The bank believes these interventions are essential to improving SME sustainability, strengthening credit quality, and increasing the success rate of export-oriented enterprises.

By integrating financing with technical support, the programme aims to create stronger and more competitive businesses capable of participating effectively in African and global value chains.

Advancing Intra-African Trade

The facility aligns closely with Afreximbank’s broader mission of promoting intra-African trade and accelerating implementation of the African Continental Free Trade Area.

Over recent years, Afreximbank has increased investment in SME development programmes across the continent, arguing that small businesses are critical to achieving industrialisation, economic diversification, and job creation.

The bank’s Export SME Development Programme is structured as a comprehensive ecosystem intervention that combines access to capital, business development support, and market connectivity.

By working through established local financial institutions such as Ecobank Zimbabwe, Afreximbank aims to ensure that financing reaches businesses most capable of generating export growth and economic impact.

The initiative is expected to strengthen Zimbabwe’s integration into regional supply chains while helping local enterprises transition into competitive export-oriented businesses capable of serving African markets under the AfCFTA framework.