NMB Bank Limited has secured a $15 million trade finance facility from the African Development Bank (AfDB) to benefit small-to-medium enterprises (SMEs) and corporates in the agribusiness and trade distribution value chains in Zimbabwe. The facility will provide a 100% guarantee to international confirming banks for the non-payment risk associated with NMB's trade finance transactions conducted on behalf of SMEs and local corporates. This support is crucial for the SME sector, particularly as the informal sector, where they operate, contributes significantly to Zimbabwe's GDP. The trade facility is expected to support over $100 million in total trade volumes by 2026, contributing to the reduction of Africa's trade finance gap and facilitating intra-Africa trade. AfDB's involvement aims to enhance correspondent banking relationships for NMB and address Zimbabwe's trade finance challenges, especially for SMEs and local enterprises.