NMB Bank Limited

NMB Bank Limited, previously known as National Merchant Bank of Zimbabwe Limited, is a commercial bank in Zimbabwe. It is licensed by the Reserve Bank of Zimbabwe. NMB Bank offers the following products for small and medium sized enterprises:

SME Accounts

The SME account offers access to normal current account banking services, as well as access to loans.

Requirements for opening SME Accounts

Registered SMEs (For both SME Current & Savings Accounts)

1.Memorandum & Articles of Association

2.Certificate of incorporation


4.Tax clearance

5.Bank statements from current bankers(if available)

6.IDs of directors

7.Directors’’ proof of residence (utility bill from zesa, telone, city council) should not be more than 3 months old

8.2 passport size photos

9.Initial deposit of $100

 Unregistered SMEs (Sole traders) – Sole Trader SME Current/Savings Account

    • Copy of ID (no paper IDs)
    • 2 Passport-sized photos
    • Proof of Residence ( ZESA/ Council Bill/ Telone Bill),
      • Bill should be not more than 6months old.
      • If the utility bill is not in the applicant’s name, the client must also attach an Affidavit commissioned by Police or Commissioner of Oaths  
      • If the area is still new and bills are not yet in place, applicant must attach a recent Letter from Cooperative or Land developer with the developer’s stamp
    • Valid Business licence in the applicant’s name OR Proof of Trading like two (2 ) receipts from Stock Suppliers
    • Licences can be Council licences/ Vendors licences / Cross boarders licences , Trade bodies licences
    • If applicant does not have a valid business licence, he must attach proof of trade like 2 receipts / invoices from suppliers

Access to Loans

The following loan types can be accessed through these accounts:

Invoice Discounting

Order Finance

Working Capital Finance

Equity Release Loans

Equity Release Loans

These loans allow you to mortgage your house or property in order to get funding for your business. You are offered up to 60% of the value of the property.

How to Access Facilities

To access the above, you first of all need to open an SME banking account with NMB Bank. A three-month waiting period applies for new customers before they can access lending products, but this can be waived in special circumstances where you have a current banking relationship with another financial institution, and the banking history justifies the lending.

Once the account is operational, details are obtainable by contacting the SME department. If you are a paid-up member of the SME Association of Zimbabwe, your Member Consultant can assist with the application process.