The African Export-Import Bank is expanding its push into Zimbabwe’s small business sector with a new $15 million financing facility aimed at helping exporters scale production, access regional markets and plug into Africa’s rapidly growing trade corridors.
The funding agreement between Afreximbank and Ecobank Zimbabwe Limited comes as Zimbabwe positions itself to capitalize on stronger agricultural output, rising commodity prices and expanding intra-African trade under the African Continental Free Trade Area (AfCFTA).
Under the facility, small and medium-sized enterprises operating across export value chains — including agribusiness, manufacturing, healthcare, logistics, technology and the creative economy — will gain access to working capital and long-term financing that has historically remained out of reach for much of Zimbabwe’s private sector.
The programme forms part of Afreximbank’s Export SME Development Programme, a continent-wide initiative designed to strengthen Africa’s industrial base and reduce the financing gap that continues to constrain export-oriented businesses.
“In Zimbabwe and across the continent, Afreximbank remains firmly committed to supporting SMEs as engines of export growth, economic resilience and long-term development,” said Oluranti Doherty, the bank’s Managing Director for Export Development.
She said the facility goes beyond conventional lending by combining financing with technical support aimed at improving operational management, export readiness, digitalisation and financial sustainability.
The structure reflects a broader shift among African development finance institutions toward ecosystem-based lending models, where capital is paired with advisory services to improve repayment quality and strengthen long-term competitiveness.
For Zimbabwe, the timing is significant.
The country sits at the center of Southern Africa’s major trade corridors, linking inland markets to ports along the Indian Ocean through the North-South and Beira transport routes. With Zimbabwe’s GDP projected to grow by about 6% in 2025, driven largely by agriculture and strong gold prices, policymakers are increasingly focused on expanding the role of SMEs in export-led growth.
Small businesses already account for more than 60% of Zimbabwe’s GDP and over 70% of national employment, yet many remain locked out of affordable trade finance due to collateral constraints, currency volatility and limited access to long-tenor credit.
By routing the facility through Ecobank Zimbabwe, Afreximbank is leveraging the lender’s local distribution network and SME advisory infrastructure to accelerate deployment.
“Small businesses are the engine of our economy,” said Ecobank Zimbabwe Managing Director Moses Kurenjekwa. “Access to appropriate export-linked financing is what enables them to grow, create jobs and compete regionally.”
Nearly 44% of the facility will directly support intra-African trade activities, while a substantial portion is earmarked for manufacturing — underscoring Afreximbank’s long-term strategy of building regional value chains rather than continuing Africa’s dependence on raw commodity exports.
The deal also highlights intensifying competition among African banks and development finance institutions to position themselves at the center of AfCFTA-driven trade flows, as companies across the continent seek financing capable of supporting industrial expansion and cross-border commerce.
For Zimbabwe’s SMEs, the facility could become more than another credit line. It may serve as a critical test of whether African trade finance can finally reach the smaller businesses expected to drive the continent’s next phase of economic growth.