Zimbabwe: Nmbz Draws Down Afreximbank's U.S.$50 Million Loan Facility

NMBZ Bank has begun drawing down Afreximbank's US$50 million loan facility, with the mining and construction sectors emerging as the biggest beneficiaries after absorbing 50% of the funds.

Presenting a trading update for the third quarter ended September 30, 2025, NMBZ company secretary Violet Mutandwa said the facility has significantly supported key economic sectors through improved access to offshore credit lines.

"During the quarter under review, the bank started drawing down on the US$50 million Afreximbank line with over US$25 million already disbursed to the mining and construction sectors. The Bank finalised a US$15 million Agrobond which was privately placed with a European Fund and will go towards supporting the agriculture sector," she said.

During the period under review, the Group generated operating income of ZWG1.3 billion for the nine months to September 30, 2025.

In terms of the Group's core business, net interest income rose by 63% compared to the same period in 2024, driven by increased loans and advances to productive sectors and support for consumer needs. Core income streams remain resilient, supported by strong growth in loans and deposits, while management continues to prioritise revenue diversification and cost optimisation.

The Group incurred operating expenditure of ZWG1.1 billion, a 70% increase from the prior year. This variance primarily reflects the impact of strategic business reengineering initiatives undertaken during the year, including restructuring and staff rationalisation to align operations with the Group's strategic vision.

Total assets increased to ZWG9.2 billion, up 27% from ZWG7.3 billion recorded on December 31, 2024. The growth was anchored by an expansion in loans and advances, which stood at ZWG4.2 billion at the end of the quarter.

"The domestic economy is projected to grow by 6.6% in 2025 in line with earlier projections in light of the sustained macroeconomic stability, record-high gold prices, growing remittances and a 12.8% rebound in agriculture following the 2024 El Nino.

"In light of the above, the Group will continue to focus on supporting key sectors of the economy through its core business," Mutandwa added.

Read the original article on New Zimbabwe.