EU-Zimbabwe Business Forum Builds Up Confidence and Resilience in Zimbabwean Economy
The European Union – Zimbabwe Business Forum (#EUZBF2025) took place at the Meikles Hotel in Harare from 20 to 22 May 2025 under the theme ‘Unlocking Sustainable Trade and Investment under the Global Gateway’. Some 300 delegates, including 60 EU business people, as well as leaders from the public and private sectors attended the Forum. The Forum was organized by the EU Delegation in Zimbabwe, in collaboration with the Zimbabwe Investment and Development Agency (ZIDA) and the Confederation of Zimbabwe Industries (CZI).
During the Forum, the EU, through the European Investment Bank, announced that it has facilitated over USD 100 million in low-interest and long-term loans to four major Zimbabwean banks, namely, NMB Bank, First Capital, CABS Zimbabwe, and Stanbic IBTC. The financing is mainly earmarked for projects in the agrifood processing and renewable energy sectors.
EU Ambassador Jobst von Kirchmann underlined that this loan is more than just funding, it is about ‘building confidence, resilience, and inclusive growth.’ Reserve Bank of Zimbabwe (RBZ) Deputy Governor Innocent Matshe echoed the positive sentiment and underlined that the funding from the EU is a ‘show of trust and optimism in Zimbabwe’s economic stability and reform momentum.’
“We made every effort to present a balanced picture, outlining both the opportunities and the structural issues that exist. The level of interest was overwhelming, to the point that we could not accommodate all the meeting requests. This Forum was critical in fostering trust.”
CZI CEO Mrs Sekai Kuvarika
ZIDA CEO Tafadzwa Chinamo delivered a keynote presentation entitled ‘Value Chains with Potential for Investment in Zimbabwe: Opportunities and Challenges.’ He spotlighted key sectors ripe for investment, such as horticulture, renewable energy, and mining, which have the potential to bring about economic transformation and where Zimbabwe is endowed with comparative advantages.
As a matter of fact, the EU is the top importer of Zimbabwe’s horticultural products. Due to challenges posed by #ClimateChange, it is becoming increasingly important to promote climate-resilient agriculture as part of the climate adaptation and mitigation measures.
It is worth recalling that Zimbabwe was once known as the ‘Breadbasket of Africa.’ As part of the series of success stories, the EIB is proud to have provided financing to Kaiyo Estate in the Honde Valley to produce avocado and macadamia. To foster inclusive growth, the EIB also provided a EUR 20 million credit line to Stanbic Bank specifically to support #SME and women entrepreneurs.
The trade volume between EU and Zimbabwe amounted to USD 881 million in 2023. Through such events, the EU aims to boost the trade volume to USD one billion soon. Under EU‘s Global Gateway Initiative (#GGI), Zimbabwe — and Africa in general — are expected to get the lion’s share of the investment from EU.