Zimbabwe’s banking sector has secured a new funding boost after CABS obtained a US$30 million financing package from British International Investment (BII), aimed at expanding credit for businesses in key productive sectors.

The package includes a US$20 million term loan and a planned US$10 million trade finance facility. The funding is intended to support agriculture, food manufacturing, exporters, machinery and productive equipment.

The agreement was signed in Harare on Thursday, 24 September, according to reports published the following day. CABS said the partnership would strengthen its ability to provide financing and trade solutions to businesses seeking to expand production and reach new markets.

The facility comes amid efforts to improve access to longer-term capital for Zimbabwean companies, particularly small and medium-sized enterprises. Its impact will depend on how the funds are deployed and which eligible businesses qualify for financing.