The First Capital Bank Zimbabwe has signed a €12.5 million credit facility with the European Investment Bank (EIB).
The money will be given as loans to FCB customers in sectors such as agriculture, manufacturing and healthcare.
FCB Commercial Director Mutemwa Ushewokunze confirmed the development adding that there are of businesses that will benefit from funding.
FCB has screened potential investment SMEs and has identified firms in all corners of the economy including Fishery, Pharma, Irrigation among others to benefit from the deal.
The bank says the EIB €12.5m 7-year facility will go a long way in helping Zimbabwean firms.
Meanwhile, in 2021, EIB announced a €15m facility with CABS, its first deal in Zimbabwe in 22 years.
Jim Hodges, EIB’s Regional Representative for Southern Africa & Indian Ocean, confirmed the recent development.
Zwnews
Kaizer Chiefs coach Cedric Kaze has urged patience and composure after the club’s poor run… Read More
Kaizer Chiefs have suffered a major setback with two experienced players injured. Both Brandon Petersen… Read More
Premier Soccer League giants Kaizer Chiefs have reportedly set their sights on Nigeria international goalkeeper… Read More
Kaizer Chiefs’ preparations for the Soweto Derby were severely disrupted before kick-off, a reality that… Read More
Kaizer Chiefs registered a second successive victory in the CAF Confederation Cup group stages after… Read More
Across Africa, vehicle buyers and importers are discovering a new way to connect — through … Read More