Cape Town, South Africa — CBZ Bank Ltd has signed a USD 50 million Trade and Working Capital line of credit with the African Export-Import Bank (Afreximbank) to support export-oriented businesses across Africa. The agreement, signed during the Investing in African Mining Indaba 2025 in Cape Town, is aimed at addressing the short-term trade financing needs of corporates and small-to-medium-sized enterprises (SMEs) in sectors such as mining, agro-processing, energy, manufacturing, tourism, logistics, and services.
By Ryan Chigoche
Phinebous Mutibura, Executive Director of CBZ Bank, announced the development, stating, “Today, CBZ Bank Ltd signed a USD 50 million Trade and Working Capital line of credit with the African Export-Import Bank (Afreximbank) to support corporates and SME entities that are export-oriented in the mining value chain, agro-processing, energy, manufacturing, services, tourism, and logistics, among others, to finance their short-term trade financing requirements.”
This financing initiative is designed to help businesses in critical industries access working capital to maintain and expand their trade operations, contributing to the broader goal of fostering economic growth and integration across Africa.
The initiative comes at a crucial time when suppliers in Zimbabwe’s mining sector have struggled to access long-term financing. Last year, CBZ Bank reported that loans to the mining sector accounted for only 11% of total industry loans in Zimbabwe, compared to 20% for individual loans, highlighting a significant financing gap for the sector.
The credit line will provide businesses with vital liquidity to finance both import and export activities, helping them meet immediate working capital needs and expand their operations.
The agreement was signed during the Investing in African Mining Indaba, a major event that brings together industry leaders, policymakers, and investors to discuss the future of mining in Africa. This year’s theme, “Building Unified African Mining Value Chain: Enhancing Best Practice,” emphasizes strengthening Africa’s mining sector and improving business practices across the continent.
The credit line is expected to significantly impact SMEs, which often face challenges in securing financing due to limited access to capital and collateral. By partnering with Afreximbank, CBZ Bank will offer more flexible and tailored financing options, making it easier for businesses in export-driven industries to grow and thrive.
In support of the mining sector, CBZ Bank announced at Mine Entra last year that it was working on a USD 200 million financing facility through its Enterprise Supply Chain Development (ESD) program. This initiative, designed to support suppliers in the mining sector, underscores the bank’s ongoing commitment to the industry’s growth. This follows the success of a similar arrangement with Mimosa Mining Company, where the bank financed the miner’s supplies through the Local Enterprise Development (LED) program.
Meanwhile, this new credit line aligns with broader efforts to promote intra-Africa trade and economic cooperation, particularly through initiatives such as the African Continental Free Trade Area (AfCFTA). Signed by Zimbabwe and 55 other African Union (AU) member countries along with eight Regional Economic Communities (RECs), the AfCFTA aims to create a single continental market for goods and services. By facilitating the free movement of goods across Africa, it is expected to enhance the competitiveness of intra-African trade and support the growth of export-driven industries.
The USD 50 million line of credit marks the beginning of a broader effort by CBZ Bank and Afreximbank to support trade and business development across Africa. Both institutions have expressed their commitment to exploring further opportunities for financial collaboration, which will be essential for unlocking the continent’s full economic potential.
