{"id":476608,"date":"2022-10-31T21:01:13","date_gmt":"2022-10-31T21:01:13","guid":{"rendered":"https:\/\/www.kapitalafrik.com\/?p=476608"},"modified":"2022-10-31T21:01:20","modified_gmt":"2022-10-31T21:01:20","slug":"tdb-to-support-exporters-in-zimbabwe-via-usd-10-million-trade-finance-facility-to-nmb-bank","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2022\/10\/31\/tdb-to-support-exporters-in-zimbabwe-via-usd-10-million-trade-finance-facility-to-nmb-bank\/","title":{"rendered":"TDB to support exporters in Zimbabwe via USD  10 million trade finance facility to NMB Bank"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>\n<p class=\"wp-block-paragraph\">The Eastern and Southern African Trade and Development (TDB) has extended a 3-year USD 10 million trade finance line of credit to support NMB Bank\u2019s corporate clients in export-focused sectors of the economy.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In line with the Bank\u2019s financial institutions strategy, this new facility to NMB will contribute to funding corporates with trade enabling working capital and capital expenditures. Priority will be given to sectors that enhance Zimbabwe\u2019s export base, increase forex revenue and support expanded employment in sectors such as agriculture, mining, hospitality, tourism, and manufacturing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Michael Awori, TDB CEO<\/strong>&nbsp;said:&nbsp;<em>\u201c<\/em><em>As part of the Bank\u2019s financial institutions strategy, TDB has successfully positioned itself to support local banks with lines of credit to intermediate key trade flows within and between the region and the rest of the world, which is much needed following the retreat of some international correspondent banks from the continent.\u201d<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Gloria Mamba, TDB Group Executive, Coverage for Southern Africa<\/strong>&nbsp;said:&nbsp;<em>\u201cTDB and NMB have been working together since 2010, when TDB availed a first line of credit to NMB for general corporate customers. In 2019, TDB and NMB came together to enable a local microfinance institution to extend its lending to SMEs. To deepen our relationship with NMB for the expansion and retooling of the Zimbabwean economy is important to us.\u201d<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>\u201cOur partnership with TDB has stood the test of time. This line of credit helps to support our shared focus on growth, sustainability, and overall contribution to the development of the Zimbabwean economy. The facility provides the much-needed support to our exporting entities to retool and for working capital support in order for them to compete effectively on the global arena\u201d<\/em>&nbsp;said&nbsp;<strong>Mr. Gerald Gore, NMB Bank CEO<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In Zimbabwe, TDB\u2019s interventions are enabling the transformation of the economy, increasing the availability of foreign currency to generate exports, and facilitating greater levels of inter and intra-Africa trade, through various projects and transactions in several sectors including manufacturing, healthcare, agribusiness, power, as well as hospitality and tourism.<\/p>\n<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>","protected":false},"excerpt":{"rendered":"<p>The Eastern and Southern African Trade and Development (TDB) has extended a 3-year USD 10 million trade finance line of credit to support NMB Bank\u2019s corporate clients in export-focused sectors of the economy. In line with the Bank\u2019s financial institutions strategy, this new facility to NMB will contribute to funding corporates with trade enabling working<\/p>\n","protected":false},"author":527180,"featured_media":476609,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[16158,12046,12065],"tags":[20975,15614],"class_list":["post-476608","post","type-post","status-publish","format-aside","has-post-thumbnail","category-bank","category-leaders-en","category-press-releases","tag-nmb","tag-tdb","post_format-post-format-aside","pmpro-has-access"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v28.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>TDB to support exporters in Zimbabwe via USD 10 million trade finance facility to NMB Bank - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. 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