POSB hosts exporters seminar and unveils US$20m finance boost

The People’s Own Savings Bank (POSB) is hosting its third annual Exporters Seminar in Harare under the theme “Accessible Export Finance: Powering Businesses Beyond Borders.” The event aims to connect Zimbabwean exporters, including small-holder farmers, SMEs, and manufacturers, with the necessary financing, market information, and regulatory guidance to compete in regional and international markets.

To support this initiative, POSB has secured a US$10 million line of credit from Afreximbank specifically to assist qualifying small and medium-sized enterprises within export value chains. Additionally, the bank has established a separate US$10 million trade finance facility to further bolster local businesses.

POSB Chief Executive Officer Garainashe Changunda noted that while Zimbabwe possesses significant export potential in sectors such as agriculture, mining, manufacturing, and tourism, access to appropriate finance and practical guidance remains a primary barrier to completing export transactions.