NMBZ Bank & RP join forces to boost the Agribusiness in Zimbabwe

Utrecht, 5 October 2023 – NMB Bank Zimbabwe and Rabo Partnerships (RP) entered into a multiyear partnership aiming to support NMBZ to become a dominant player in the Food and Agribusiness sector and to play a catalyst role in the development of the agricultural ecosystem of the country.

Zimbabwe has a massive untapped food & agribusiness market and has significant natural resources and arable land that can be used to produce various crops and livestock. The country is landlocked and situated in the sub-tropics in southern part of Africa. The Food and Agribusiness sector plays a critical role in socio-economic development of the country. The sector employs a significant portion of the country’s population, and the sector is critical for ensuring food security. The agricultural sector contributes on average of 12 percent to the annual GDP and 16 percent of the country’s export earnings.

NMBZ Bank has a clear ambition – becoming a dominant player in the F&A markets and unlocking financing for the wholesale markets and for smallholder farmers – and is very committed to achieve this ambition in the upcoming years. Horticulture, Grain & Oilseeds and dairy and poultry are considered important value chains for the bank. Tailoring the business proposition can be based on the bank's strong digital capabilities and the strong proactive and knowledgeable agribusiness team of the bank.

Rabo Partnerships will leverage on Rabobank’s enablers such as knowledge and networks to guide NMBZ Bank in its overarching goal. Sustainability is a key component as it will contribute to the long-term development of the food and agribusiness sector in Zimbabwe. By adhering to sustainable practices, sectors and clients will eventually have lower risk-profiles which result in a higher risk-adjusted return for the bank. A win-win for all involved.

Mrs. Juliette Hensgens, Senior Project Manager at Rabo Partnerships, and Program Lead;

'It is impressive to see the enormous potential in the Food & Agribusiness Market and NMBZ is well positioned to service this important sector. We cannot wait to join forces to realise NMB's ambition to become a key player in the Food and Agri sector.’

CEO of NMBZ Bank, Mr Gerald Gore:

‘Given how central agriculture is to the Zimbabwean economy, in Rabo Partnerships, we have found a great partner, not only critical to the bank, but to the country. We view this partnership as transformational to the agriculture sector and we are positive that over the next 3 years, we will position ourselves to be a significant player in this sector.'

The new partners look forward to collaborating and achieving their joint ambitions in the coming years.

For additional information you can contact: juliette.hensgens@rabobank.nl.