NMB And Untu Partner In $1M Dollar Collateral Free Funding For Small Businesses

NMB Bank Zimbabwe, Zimbabwean Banks, financial services in Zimbabwe, African banks, Harare banks

Today, NMB Bank, Untu Capital (a microfinance business) and the Eastern and Southern African Trading Bank (TDB formerly called PTA) unveiled a new fund for small businesses.

The ZW$1M fund is guaranteed by TDB meaning that small business players can access loans without needing to declare collateral. The loans will be accessed through Untu Capital. Untu is also receiving an additional ZW$250 000 grant to enhance it’s capacity to lend to SMEs.

Gloria Mamba, the TDA head of mission said this guarantee is a first of its kind and they hope to replicate this model in other markets. The guarantee itself is for 3 years and is scaleable up to ZW$6M.

We hope tech startups and upstarts will be able to access the funds as well.

2 comments

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  1. Andrew

    Great article. Great news. Now tell us, how will the fund be be accessed?

  2. Medelina

    How does one apply to get the funds and what are the requirements

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