African Export-Import Bank (Afrexim Bank) has extended a $15 million financing facility to Ecobank Zimbabwe Limited in a move aimed at accelerating Zimbabwean small business participation in regional export markets as African lenders intensify efforts to turn SMEs into engines of continental trade growth.
The facility, announced in Harare on Monday under Afreximbank’s Export SME Development Programme (ESDP), will provide working capital and capital expenditure financing to small and medium enterprises operating across export value chains in agribusiness, manufacturing, logistics, healthcare, technology and the creative economy.
The deal signals a broader strategic shift underway across Africa’s financial sector, where banks and development finance institutions are increasingly focusing on export-oriented SMEs as governments push to deepen intra-African trade under the African Continental Free Trade Area (AfCFTA).
For Zimbabwe, where SMEs account for more than 60% of GDP and over 70% of employment, the facility arrives at a critical moment as businesses seek capital to expand production capacity, improve export readiness and access regional supply chains.
Yet despite their central role in the economy, many Zimbabwean SMEs remain locked out of long-term export financing.
“Access to long-tenor, export-linked financing has remained a persistent constraint on their growth and competitiveness,” the institutions said in the release.
Export-Driven SME Financing Takes Centre Stage
The financing programme reflects growing recognition that Africa’s industrialisation ambitions cannot be achieved without scaling SMEs into competitive regional exporters.
Under the facility, Afreximbank will channel development finance through Ecobank Zimbabwe, which will act as the licensed intermediary distributing capital and advisory support to businesses across strategic sectors.
Some 43.75% of the proceeds will directly support intra-African trade activities, while 18% has been earmarked for manufacturing businesses, underscoring Afreximbank’s emphasis on industrialisation and regional value chain development.
The initiative goes beyond lending.
As part of the programme, Afreximbank will also provide technical and operational support covering financial management, export readiness, marketing, loan management and digitalisation.
The strategy reflects a wider evolution in African development finance, where institutions are increasingly combining capital with ecosystem-building interventions aimed at improving business sustainability and export competitiveness.
“In Zimbabwe and across the continent, Afreximbank remains firmly committed to supporting SMEs as engines of export expansion, economic resilience, and long-term development,” said Oluranti Doherty, Managing Director for Export Development at Afreximbank
“This facility with Ecobank Zimbabwe Limited exemplifies the kind of high-additionality, high-impact intervention that the ESDP was designed to deliver, addressing market failures that commercial finance alone cannot resolve, and building the productive capacity of enterprises that are central to Africa’s trade transformation,” she added.
Doherty said the programme was structured not only to provide financing but also to ensure SMEs are equipped, connected and positioned to grow sustainably.
Zimbabwe Positioned at a Strategic Trade Crossroads
The facility also highlights Zimbabwe’s growing strategic relevance within Southern African trade logistics.
Positioned along the North-South Corridor linking Dar es Salaam to Durban and the Beira Corridor connecting landlocked economies to Indian Ocean ports, Zimbabwe remains one of Southern Africa’s most critical transit and industrial trade routes.
That positioning is becoming increasingly important as AfCFTA implementation accelerates and African economies attempt to reduce reliance on raw commodity exports by expanding regional manufacturing and processing industries.
Zimbabwe’s economy is forecast to grow by 6% in 2025, supported by improved agricultural output and stronger gold prices, according to the release.
The renewed focus on SMEs also comes as African policymakers intensify calls for stronger domestic production systems capable of feeding continental supply chains rather than exporting unprocessed commodities.
Across Africa, SMEs represent roughly 90% of businesses and contribute more than 50% of employment, according to African Development Bank estimates, yet financing gaps continue to constrain their ability to scale.
The International Finance Corporation has previously estimated Africa’s SME financing gap at more than $330 billion.
Ecobank Expands Its SME Ambitions
For Ecobank Zimbabwe, the agreement strengthens its push to position itself as a key intermediary for regional trade finance and SME banking solutions.
The bank, a subsidiary of Ecobank Transnational Incorporated, said the facility will be integrated into its existing SME financing and advisory infrastructure to provide businesses with both funding and strategic support.
“Ecobank Zimbabwe Limited is proud to partner with Afreximbank on this facility, which speaks directly to our commitment to unlocking the potential of Zimbabwe’s SME sector,” said Moses Kurenjekwa, Managing Director of Ecobank Zimbabwe Limited.
“Small businesses are the engine of our economy, and access to appropriate, export-linked financing is what enables them to grow, create jobs, and compete regionally,” he added.
Kurenjekwa said the collaboration combines Afreximbank’s development finance mandate with Ecobank’s local market reach to create a scalable solution for export-oriented SMEs.
The facility follows a milestone year for Ecobank Zimbabwe, which recorded $100 million in revenue in 2025, supported by stronger lending activity and business diversification.
Afreximbank Deepens AfCFTA Push
The financing also aligns with Afreximbank’s broader strategy of positioning itself at the centre of Africa’s trade integration agenda.
The Cairo-headquartered lender has become one of the continent’s most influential trade finance institutions, with total assets and contingencies exceeding $40.1 billion at the end of 2024 and shareholder funds reaching $7.2 billion.
Afreximbank has played a central role in supporting implementation of AfCFTA through initiatives including the Pan-African Payment and Settlement System (PAPSS), adopted by the African Union as a continental payments platform.
The bank has also established a $10 billion Adjustment Fund designed to support countries participating in the AfCFTA framework.
As African economies confront rising debt pressures, currency volatility and slowing global demand, institutions like Afreximbank are increasingly being relied upon to finance industrialisation, export diversification and regional integration.
For Zimbabwe’s SMEs, the latest facility represents more than a financing injection.
It is part of a larger continental push to transform small businesses from survivalist enterprises into export-capable firms integrated into Africa’s next generation of regional trade corridors.
