Zimbabwe: Posb Unveils U.S.$20m Export Finance Boost for Local Businesses

What the report says

People’s Own Savings Bank (POSB) in Zimbabwe is preparing to hold its annual Exporters Seminar in Harare on Thursday, aiming to help local companies address financing barriers and expand into regional and international markets. The third edition of the event will focus on “Accessible Export Finance: Powering Businesses Beyond Borders” and is expected to bring together exporters, policymakers, regulators, banks and trade development groups.

According to the report, POSB chief executive Garainashe Changunda said the seminar is meant to connect businesses with funding, market intelligence and practical guidance needed to compete outside Zimbabwe. The bank said the event will also provide direct discussion with institutions involved in trade, regulation and finance, including representatives from government agencies and regional trade bodies.

POSB said it has secured a US$10 million line of credit from Afreximbank for qualifying small and medium-sized enterprises in export value chains, alongside a separate US$10 million trade finance facility for importers, exporters and other businesses involved in international trade. The bank said these tools will complement its existing financing and account services, including working capital support and export-related banking products.

The seminar comes as Zimbabwe continues to prioritize exports under its National Development Strategy 2, which links export growth to foreign currency earnings, jobs, industrialization and wider economic growth. POSB said the session will also be livestreamed for stakeholders who cannot attend in person.