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.
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.
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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.