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NMBZ finalises US$70m external credit lines
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Zimbabwe Stock Exchange-listed financial services group NMBZ Holdings is on the verge of securing external lines of credit worth over US$70 million, as part of its broader strategy to unlock US$100 million in offshore funding for lending to the productive sectors of the economy in 2025.
This initiative follows the group's successful mobilisation of over US$65 million in external credit lines in 2024, which were disbursed primarily to exporters across various sectors.
In a trading update for the first quarter ended March 31, 2025, the group said it is focused on expanding external credit facilities through its banking subsidiary, NMB Bank, to support key economic drivers such as agriculture, mining, and manufacturing.
"The group, through its banking subsidiary NMB Bank, continues to focus on mobilising external lines of credit to fuel productive-sector lending and is expecting to finalise on raising funding over US$70 million in the near term," the company said.
NMBZ said the current push for offshore funding aligns with an optimistic outlook for Zimbabwe's economic performance in 2025. The group anticipates a 6% rebound in economic growth, up from 2% in 2024, largely driven by an improved agricultural season following the El Niño-induced drought and sustained investments in the mining sector.
"Investments in mining, particularly in gold, lithium, iron and steel, are also expected to boost industrial output," the group noted.
Beyond its core banking operations, NMBZ is pursuing an aggressive growth strategy across its subsidiaries. The group said its property arm had completed a new cluster home development that is now available for sale, a move expected to further strengthen the company's balance sheet.
On the technology front, NMBZ is continuing its digital transformation agenda. Several projects aimed at upgrading transactional platforms and enhancing customer experience are underway. Among them is a new, enhanced mobile banking application targeted at both corporate and individual customers, expected to be launched in the next quarter.
Its fintech subsidiary, XPlug Solutions, is also scaling operations across the continent. The unit is currently undertaking multiple projects involving fintech system implementation, Robotic Process Automation (RPA), mobile banking solutions, and bespoke software development for medium to large financial institutions in several African countries.
NMBZ said all its subsidiaries were maintaining strong growth momentum, aligned with the group's strategic direction to deepen its core financial services and expand regionally.
The group started 2025 on a solid note, recording operating income of ZiG396 million for the first quarter. Fee and commission income accounted for 64% of the total income, largely driven by digital banking platforms. Net interest income amounted to ZiG141 million, while profit after tax stood at ZiG56 million for the quarter.
NMBZ also reported a 5% increase in total assets to ZiG7.5 billion as of March 31, 2025, compared to year-end figures in December 2024, reflecting continued growth across its diversified business units.
As the financial year progresses, NMBZ's ability to secure and deploy significant offshore funding will be key to supporting Zimbabwe's economic recovery and sustaining its own profitability in a challenging but potentially rewarding environment.
This initiative follows the group's successful mobilisation of over US$65 million in external credit lines in 2024, which were disbursed primarily to exporters across various sectors.
In a trading update for the first quarter ended March 31, 2025, the group said it is focused on expanding external credit facilities through its banking subsidiary, NMB Bank, to support key economic drivers such as agriculture, mining, and manufacturing.
"The group, through its banking subsidiary NMB Bank, continues to focus on mobilising external lines of credit to fuel productive-sector lending and is expecting to finalise on raising funding over US$70 million in the near term," the company said.
NMBZ said the current push for offshore funding aligns with an optimistic outlook for Zimbabwe's economic performance in 2025. The group anticipates a 6% rebound in economic growth, up from 2% in 2024, largely driven by an improved agricultural season following the El Niño-induced drought and sustained investments in the mining sector.
"Investments in mining, particularly in gold, lithium, iron and steel, are also expected to boost industrial output," the group noted.
Beyond its core banking operations, NMBZ is pursuing an aggressive growth strategy across its subsidiaries. The group said its property arm had completed a new cluster home development that is now available for sale, a move expected to further strengthen the company's balance sheet.
On the technology front, NMBZ is continuing its digital transformation agenda. Several projects aimed at upgrading transactional platforms and enhancing customer experience are underway. Among them is a new, enhanced mobile banking application targeted at both corporate and individual customers, expected to be launched in the next quarter.
Its fintech subsidiary, XPlug Solutions, is also scaling operations across the continent. The unit is currently undertaking multiple projects involving fintech system implementation, Robotic Process Automation (RPA), mobile banking solutions, and bespoke software development for medium to large financial institutions in several African countries.
NMBZ said all its subsidiaries were maintaining strong growth momentum, aligned with the group's strategic direction to deepen its core financial services and expand regionally.
The group started 2025 on a solid note, recording operating income of ZiG396 million for the first quarter. Fee and commission income accounted for 64% of the total income, largely driven by digital banking platforms. Net interest income amounted to ZiG141 million, while profit after tax stood at ZiG56 million for the quarter.
NMBZ also reported a 5% increase in total assets to ZiG7.5 billion as of March 31, 2025, compared to year-end figures in December 2024, reflecting continued growth across its diversified business units.
As the financial year progresses, NMBZ's ability to secure and deploy significant offshore funding will be key to supporting Zimbabwe's economic recovery and sustaining its own profitability in a challenging but potentially rewarding environment.
Source - newsday
