Project detail - NMB BANK LIMITED

NMB BANK LIMITED

Status: Approved investment
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Why disclosure?

FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more

In case of questions

In case of questions, please contact us at disclosure@fmo.nl

Disclaimer

The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.

Who is our customer

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.

What is our 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 do we fund this investment?

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.

Website customer/investment
http://www.nmbz.co.zw/
Region
Africa
Country
Zimbabwe
Sector
Financial Institutions
Effective date
9/26/2016
Total FMO financing
USD 10.00 MLN
Funding
MASSIF
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)
B