Afreximbank, the African Export-Import Bank, has signed two deals totaling $80 million with Zimbabwe's CBZ Bank. The first deal provides $60 million to support export growth through trade finance and capital expenditure financing for Zimbabwe's corporates and SMEs in the productive sector.
[1][2][3] The second deal is a $20 million non-funded line of credit to facilitate the issuance of trade guarantees and letters of credit, supporting both SMEs and large corporates in various sectors to facilitate trade.[3] These agreements demonstrate Afreximbank's commitment to supporting economic development and trade integration in Africa, particularly in Zimbabwe.
Citations:
[1] https://bcrpub.com/news/afreximbank-signs-two-deals-totaling-us80m%C2%A0-zimbabwe%E2%80%99s-cbz-bank
[2] https://www.afreximbank.com/afreximbank-signs-two-deals-totaling-us80-million-for-zimbabwes-cbz-bank/
[3] https://www.newsday.co.zw/business/article/200028218/cbz-bank-afreximbank-ink-us80m-trade-financing-deal
[4] https://www.afreximbank.com
[5] https://www.linkedin.com/posts/africantrade-chamber_afreximbank-signs-two-deals-totaling-us80-activity-7211677139765518336-Yr1T