TDB issues guarantee to UNTU Capital to boost SME financing

The Eastern and Southern African Trade & Development Bank (TDB) has issued a three-year guarantee of ZWL1 million – scalable to up to ZWL6 million – to Untu Capital in favour of NMB Bank, blended with a technical assistance grant of ZWL250,000, to enhance Untu’s lending capacity to SMEs in Zimbabwe.

The guarantee is the first of its kind to be extended under TDB’s SME Programme launched in 2018.  The programme’s approach consists in leveraging TDB’s seed capital, blending it, and directing it through partner financial institutions, such as Untu Capital, who target small and medium-sized enterprises as their client-base.