Project detail - NMBZ HOLDINGS LTD


Status: Completed investment
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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

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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

NMBZ is a holding company whose principal subsidiary is NMB Bank Limited (NMB), a registered commercial bank in Zimbabwe. NMB is the sixth largest bank in Zimbabwe and is active in the financing of local enterprises. NMB is listed in the Zimbabwe Stock Exchange.

What is our funding objective?

In April 2013, FMO invested USD 4.9 million in NMBZ, acquiring an equity stake of 9%. The new capital will contribute to strengthening NMB’s capital base, supporting the growth of the bank and helping it comply with recently-increased minimum capital criteria. The investment is part of a total package of capital injections that also included AfricInvest and Norfund. In addition to their financial contribution, the investors plan to contribute to the bank’s development by nominating experienced board members and by providing technical assistance in areas requiring further strengthening.

Why do we fund this investment?

Local capital is still scarce in Zimbabwe; FMO’s investment is therefore additional. By making this investment FMO aims at fostering credit extension to Zimbabwean enterprises, sound banking practices and sustainable economic development.

Website customer/investment
Financial Institutions
Effective date
End date
Total FMO financing
USD 4.94 MLN
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)