Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Zimbabwe
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Netherlands Development Finance Company (FMO)
Status: Active
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2016-09-26
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: NMB Bank Ltd
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Finance
Investment Amount (USD): $ 10.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

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Primary Source

Original disclosure @ FMO website
Updated in EWS: 2017-12-25
NMB BANK LIMITED
FMO-49499

Project Description
WHO IS OUR CLIENT NMB Bank Ltd is a Zimbabwean commercial bank founded in 1992 by three Zimbabweans following the liberalisation of the financial sector. Some of NMB's current shareholders include AfricInvest, Norfund, FMO, African Century and Old Mutual. The bank provides premium financial services to existing and potential high net-worth individuals and businesses and uniquely branded technology enabled products to small and medium enterprises (SME's) and the broader market. FUNDING OBJECTIVE The USD 10 million senior term facility will be used to support NMB Bank Ltd to grow its SME portfolio, an increasingly important focus segment for the bank. WHY WE FUND THIS PROJECT Providing financing to SME's aligns with FMO's strategy to achieve private sector development. The funding is highly additional in the Zimbabwean market with very scarce liquidity.
Investment Description
Contact Information
FMO South Africa +27 11 507 2500 joburg-office@fmo.nl
Bank Documents