NMB BANK LIMITED (FMO-49499)

Countries
  • Zimbabwe
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project 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.
Voting Date
Sep 26, 2016
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
NMB Bank Ltd
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
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.
Bank Documents
Primary Source

Original disclosure @ FMO website

Updated in EWS Apr 9, 2018

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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
  • Netherlands Development Finance Company (FMO)
Contact Information

FMO
South Africa
+27 11 507 2500
joburg-office@fmo.nl

 

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism.