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African Development Bank Group (AfDB)

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    • AfDB Country Manager for Zimbabwe Moono Mupotola and Gerald Gore, NMB Bank CEO at the signing of an agreement for a $15 m trade facility in Harare
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Source: African Development Bank Group (AfDB) |

African Development Bank signs $15 million Transaction Guarantee Facility with NMB Bank Zimbabwe

The facility offers up to 100% coverage to confirming Banks, effectively mitigating non-payment risks linked to NMB Bank's trade transactions on a per-transaction basis

The African Development Bank (https://www.AfDB.org/) and NMB Bank Limited Zimbabwe (NMB) have signed a $15 million Trade Finance Transaction Guarantee Facility to unlock trade finance opportunities for Zimbabwean small and medium-sized enterprises and those in agri-business and trade distribution value chains. The signing took place on 7 March at NMB…

African Development Bank Group (AfDB)

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    • The injection of resources into the Central Africa Building Society of Zimbabwe will finance trade
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Source: African Development Bank Group (AfDB) |

Zimbabwe: African Development Bank approves $25 million trade finance line of credit for Central Africa Building Society

The facility, which would finance approximately $175 million of trade over a three-and-a-half-year period, marks the African Development Bank’s fourth private sector intervention in Zimbabwe

The Board of Directors of the African Development Bank Group (www.AfDB.org/en) has approved a $25 million trade finance line of credit facility to the Central Africa Building Society of Zimbabwe, to be used to boost local firms and small and medium-sized enterprises. This facility will enhance foreign currency liquidity support…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

Conference of the Parties (COP28): African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) grants $1.8 million to boost entrepreneurship skills for thousands of women in partnership with Export Trading Group

The project aims to impact up to 3,600 women and women-led or owned businesses by placing them in Export Trading Group’s global supply chain over four years

The African Development Bank Group’s (www.AfDB.org) Affirmative Finance Action for Women in Africa (AFAWA) and Export Trading Group have signed a technical assistance agreement of $1.8 million to strengthen women’s skills in entrepreneurship in four countries. Leadership from both organizations took part in a signing ceremony held Tuesday December 5th…

African Development Bank Group (AfDB)

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    • Support from the African Development Bank will enable NMB Bank to support SMEs and local businesses, including those owned by women
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Source: African Development Bank Group (AfDB) |

African Development Bank approves USD 15 million Trade Finance Transaction Guarantee Facility for NMB Bank to support Small and Medium-sized Enterprises (SMEs) and local corporates in Zimbabwe

It will also increase access to finance and support intra-Africa trade between Zimbabwe, SADC, and the rest of Africa

The Board of Directors of the African Development Bank Group (http://www.AfDB.org) on Thursday, 30 November 2023 approved a USD 15 million Trade Finance Transaction Guarantee facility for NMB Bank in Zimbabwe. This is AfDB’s first project with NMB, a registered commercial bank with strong SME credentials. This facility will provide…

African Development Bank Group (AfDB)

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    • The African Development Bank will contribute through the implementation of this project to improve access to electricity for people in Central and Northern Mozambique
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Source: African Development Bank Group (AfDB) |

Mozambique: African Development Bank grants $33 million to improve the electrical grid near borders with Malawi, Zambia and Zimbabwe

The grant is from the Transition Support Facility, a financial instrument of the Bank specifically for states undergoing transition

Meeting in Abidjan on 5 December 2023, the Board of Directors of the African Development Bank Group (www.AfDB.org/en) approved a grant of $33.25 million to Mozambique to implement the Songo-Matambo electricity transport line project. The grant is from the Transition Support Facility, a financial instrument of the Bank specifically for…

African Development Bank Group (AfDB)

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    • Former president of Mozambique Joaquim Chissano (left), Zimbabwe president Emmerson Mnangagwa, African Development Bank president Akinwumi Adesina
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Source: African Development Bank Group (AfDB) |

Zimbabwe commits to implementing key reforms to resolve debt burden, end 21 years of sanctions

African Development Bank Group’s Adesina calls for urgency in implementing reforms

Zimbabwe President Emmerson Mnangagwa has reassured development partners and creditors that his government is committed to the implementation of key reforms critical to resolving the country’s nearly $8.3 billion of debts and arrears.  He was speaking during the high-level debt resolution forum held Monday in the capital Harare, that was also…

African Development Bank Group (AfDB)

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    • Zimbabwe hosts fourth Structured Dialogue Platform on arrears clearance and debt resolution process (1)
    • Zimbabwe hosts fourth Structured Dialogue Platform on arrears clearance and debt resolution process (2)
    • Zimbabwe hosts fourth Structured Dialogue Platform on arrears clearance and debt resolution process (3)
    • Zimbabwe's Finance Minister Mthuli Ncube
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Source: African Development Bank Group (AfDB) |

Zimbabwe hosts fourth Structured Dialogue Platform on arrears clearance and debt resolution process

African Development Bank President Dr. Akinwumi Adesina and former Mozambican president Joaquim Chissano expected in Harare for a High-Level Debt Resolution Forum scheduled for 15 May 2023

Zimbabwe has concluded a fourth Structured Dialogue Platform meeting on debt clearance with creditors and development partners. Government and development partners met Thursday 11 May, to review three draft policy reform matrices prepared by sector working groups on economic, governance and land tenure reforms. They also looked at compensation of…

African Development Bank Group (AfDB)

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    • Zimbabwe’s senior officials meet with the country’s development partners and creditors at 3rd Structured Dialogue Platform Meeting in Harare on 30 March 2023 – facilitated by the African Development Bank (1)
    • Zimbabwe’s senior officials meet with the country’s development partners and creditors at 3rd Structured Dialogue Platform Meeting in Harare on 30 March 2023 – facilitated by the African Development Bank (2)
    • Zimbabwe’s senior officials meet with the country’s development partners and creditors at 3rd Structured Dialogue Platform Meeting in Harare on 30 March 2023 – facilitated by the African Development Bank (3)
    • Zimbabwe’s senior officials meet with the country’s development partners and creditors at 3rd Structured Dialogue Platform Meeting in Harare on 30 March 2023 – facilitated by the African Development Bank (4)
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Source: African Development Bank Group (AfDB) |

African Development Bank facilitates 3rd Structured Dialogue Platform meeting in Harare on Zimbabwe Arrears Clearance and Debt Resolution process

In 2022, President Emmerson D. Mnangagwa appointed African Development Bank President Dr Akinwumi Adesina champion of the country’s arrears clearance and debt resolution process

Zimbabwe moved closer to resolving its debt issues last week as it hosted the third debt and arrears clearance structured dialogue platform meeting with development partners and creditors. Dr. Luisa Diogo, the former prime minister of Mozambique, served as the meeting’s facilitator. Diogo is the lead technical advisor to Joaquim…

African Development Bank Group (AfDB)

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    • Zimbabwean President Dr. Emerson Mnangagwa and African Development Bank President Dr. Akinwumi Adesina at a special event on the margins of the Africa Investment Forum Market Days 2022 in Abidjan, Côte d’Ivoire (1)
    • Zimbabwean President Dr. Emerson Mnangagwa and African Development Bank President Dr. Akinwumi Adesina at a special event on the margins of the Africa Investment Forum Market Days 2022 in Abidjan, Côte d’Ivoire (2)
    • Zimbabwean President Dr. Emerson Mnangagwa and African Development Bank President Dr. Akinwumi Adesina at a special event on the margins of the Africa Investment Forum Market Days 2022 in Abidjan, Côte d’Ivoire (3)
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Source: African Development Bank Group (AfDB) |

Zimbabwe Open for Business, says President Mnangagwa

President Mnangagwa spoke on Thursday at a special event on the margins of the Africa Investment Forum Market Days 2022 in Abidjan, Côte d’Ivoire

“Private sector opportunities in Zimbabwe are limitless” – Zimbabwe President Dr. Emerson Mnangagwa; Agriculture will power our way to achieving vision 2030” – Anxious Masuka. Zimbabwean President Dr. Emerson Mnangagwa has called on investors to realize the massive investment opportunities in Zimbabwe and shun negative perceptions of risk. Zimbabwe, self-sufficient in…

African Development Bank Group (AfDB)

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    • From left: AfDB Vice President Solomon Quaynor, AfDB Vice President Kevin Kariuki, AfDB Zimbabwe Country Manager Moono Mupotola, Ministro Mthuli Ncube, Ministro Soda Zhemu, Vice-Ministro Mike Madiro e Vice-Ministro Vangelis Haritatos
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Source: African Development Bank Group (AfDB) |

Zimbabwe: Senior African Development Bank Officials Highlight Private Sector Development, Renewable Energy Opportunities

Discussions covered developing the private sector and ways Zimbabwe could best tap its renewable energy resources

Senior African Development Bank (www.AfDB.org) officials recently undertook a three-day business mission to Zimbabwe. The bank’s vice president for power, energy, climate and green growth, Dr Kevin Kariuki, and its vice president for private sector, infrastructure and industrialization, Mr. Solomon Quaynor, both met with senior Zimbabwean government officials and business…