Group News

Details

Small to Medium Enterprises (SMEs) is a functional unit within the Business Banking Division of the Bank. The unit specializes in offering financial support to sole proprietors and registered companies in Zimbabwe, which have the under listed attributes:

FACTOR INDICATOR
Asset Base USD10,000.00 to USD2 Million
Employment 5 to 75 people
Annual Turnover USD60, 000. 00 to USD5 Million
Capital requirement USD5,000.00 to USD300,000.00

Products

PRODUCT TENOR INDICATIVE PRICING TURNAROUND TIME
Startup capital 1-3 years 3% Est + Margin of up to 18% p.a Up to 21 days
Working capital finance
Overdraft and loans  		12 months 3% Est + Margin of up to 18% p.a Up to 14 days
Bridging loan Facility Up to 12 months 3% Est + Margin of up to 18% p.a Up to 14 days
Order Finance Up to 12 months 3% Est + Margin of up to 18% p.a Up to 14 days
Bank Guarantees Up to 12 months Up to 3% +2.5% every quota Up to 7 days
Advisory Services      

Conditions for Qualification

  • CBZ Account holder
  • Creditworthy business proposal
  • Financial statements and management accounts
  • 12 months cash flow projections
  • Company profile
  • Company registration documents
  • Tax clearance certificate
  • Environmental compliance

Microfinance and Consumer Loans

CBZ Bank Limited’s Microfinance Unit was established in March 1996. The unit was established as a result of a tripartite agreement between DFID (British Department for International Development), CBZ Bank Limited and Care Zimbabwe. DFID provided funding, CARE (Corporate Assistance for Relief Everywhere) Zimbabwe provided Technical Assistance and CBZ Bank Limited as the project implementer.

In an effort to `widen outreach, the bank has over the years partnered other organisations like DANIDA(Danish International Association Agency) 2000, SAFIRE(Southern Alliance For Indigenous Resources) 2000 and IDEAA(Initiative for Development And Equity In African Agriculture) 2001, and lately SOS (Societies Socialis meaning Social Social society or friends), Government of Zimbabwe, where these organisations provided loan guarantee funds.

Objectives

The objective of this department is to provide financial services to the economically active informal sector that are unable to access mainstream facilities while creating employment and alleviating poverty at cost effective rates.

Target Market

We serve the economically active poor in the informal sectors of our economy

Product offering

Our clients enjoy the following products being offered across our branch network throughout the country: Loans, funeral cover, life cover etc. Requirements

Microfinance Loan

  • CBZ Bank account which would have operated for at least 30 days
  • Microhold account which must have a balance of at least 10% of the applied amount
  • A project which would have run for at least a year
  • Clients should be in a group of at least four people
  • Security in the form of household, business assets, group and individual guarantee

BADEA Loan

  • CBZ Bank account which would have operated for at least 30 days
  • Microhold account which must have a balance of at least 10% of the applied amount
  • A project which would have run for at least a year Security in the form of household, business assets and individual guarantee

Security Requirements

The goal is to extend CBZ Bank Limited’s financial services to the informal sector while using solidarity group guarantees as substitute for traditional security.

Service Level Agreement

The division signs service level Agreements with partners in order to effectively deliver thereby ensuring efficient service delivery to our clients.

Business hours

Monday to Friday: From 0800hrs to 1630hrs

Contact Details

Physical Address: CBZ Place, Manhattan Building Cnr 2nd Street and Selous Road, Harare
Postal Address: P.O. Box 3313 Harare
Telephone: +263 4 705001-9