British International Investment commits US$50M to Zimbabwe agriculture finance programme
The financing targets agricultural businesses and exporters with limited access to medium- and long-term funding, BII says.
ZIMBABWE – British International Investment (BII), the United Kingdom’s development finance institution, has committed US$50 million to expand financing for agriculture and businesses in Zimbabwe’s productive sectors, the institution said.
Announced on Monday, September 28, the funding will be deployed through two local banks, Central Africa Building Society (CABS) and NMB Bank, through BII’s new Zimbabwe Agriculture Finance Programme.
CABS will receive US$30 million, including a four-year US$20 million term loan and a planned US$10 million trade finance facility, according to BII. NMB Bank will receive US$20 million, split between a US$10 million lending facility and a US$10 million trade finance facility.
The financing targets agricultural businesses and exporters with limited access to medium- and long-term funding, BII says. It will help businesses invest in productive assets and finance imports of equipment and agricultural inputs, while also supporting trade across the agricultural value chain.
The two components serve different purposes, with term loans providing longer-term funding for business investment while trade finance facilities support shorter-term needs linked to imports, working capital and export transactions.
By the end of June 2026, CABS had provided about US$100 million in financing to Zimbabwe’s agricultural sector, the bank said. Its agricultural lending includes horticulture, sugar production, livestock and crop production.
The newly announced funding will enable the bank to expand financing for small and medium-sized enterprises, agricultural businesses and food-processing companies.
At the signing of the CABS facility, Reserve Bank of Zimbabwe Governor John Mushayavanhu said the credit facility addresses one of the private sector’s most critical needs: access to affordable, long-term financing.
BII provided NMB Bank with US$10 million in financing in July 2024 to support agricultural exporters and climate-resilient farming, according to BII. It was BII’s first debt financing in Zimbabwe’s financial services sector in years. Including the latest US$20 million package, BII has provided or announced US$30 million in financing for NMB Bank since 2024.
NMB Bank Chief Executive Gerald Gore said the first facility was fully used within two months, with 95% directed to horticulture. The financing supported producers of blueberries, cucumbers, avocados, macadamia nuts, citrus and flowers for export markets.
Finally, Gore said, “This was never just about money. It was about productive transformation and climate resilience in the agricultural sector.”
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