Wikipedia

CBZ Holdings

CBZ Holdings, whose full name is CBZ Holdings Limited, is a financial services conglomerate in Zimbabwe. It owns subsidiaries in banking, insurance, investments, wealth management, mortgages and retail finance.[4]

CBZ Holdings
Company typePublic
ZSE: CBZ
IndustryFinancial services
Founded1980; 44 years ago (1980)
HeadquartersHarare, Zimbabwe
Key people
Marc Holtzman
Group Chairman
Blessing Mudavanhu
Group Chief Executive[1]
ProductsBanking, Insurance, Investments, Debit Cards, Credit Cards, Mortgages, Wealth Management
RevenueIncrease Aftertax:US$27.84 million (2017)[2]
Total assetsUS$2.192 billion (2017)[2]
Number of employees
1,947 (2023) [3]
Websitecbz.co.zw

Location edit

The headquarters of the financial services conglomerate are located on the 3rd Floor of Union House, at 60 Kwame Nkrumah Avenue, in downtown Harare, the capital and largest city in Zimbabwe.[5] The geographical coordinates of the bank's headquarters are: 17°49'40.0"S, 31°02'55.0"E (Latitude:-17.827778; Longitude:31.048611).[6]

Overview edit

As of December 2017, CBZ Holdings Limited is a large financial services conglomerate in Zimbabwe, with an asset base in excess of US$2.192 billion, and shareholders' equity in excess of US$309.69 million.[2]

History edit

The flagship business of the Group, CBZ Bank Limited, was founded in 1980. It was taken over by the Government of Zimbabwe in 1991, to avert looming liquidation and was renamed Commercial Bank of Zimbabwe Limited. The company was listed on the Zimbabwe Stock Exchange in 1998. In 2005, the company rebranded, creating CBZ Bank as the main business and CBZ Holdings Limited as the holding company.[7] The member businesses of the Group are as illustrated in the table below, as at 31 December 2017.[2]

CBZ Holdings Limited Subsidiaries
Rank Name of Owner Asset Value Percentage Ownership Notes
1 CBZ Bank Limited US$1,991,520,000 100% Commercial Bank
2 CBZ Life Insurance US$18,580,000 100% Life Insurance
3 CBZ General Insurance US$13,220,000 100% General Insurance
4 CBZ Asset Management (Datvest) US$3,720,000 100% Asset Management
Total $2,192,660,000 100%

Ownership edit

CBZ Holdings Limited is a publicly traded company. Its stock is listed on the Zimbabwe Stock Exchange, where it trades under the symbol: CBZ. According to the December 2017 Annual Report of the CBZ Holdings Limited (CBZ Group), the major shareholders in the Group were as listed in the table below:[2]

Shareholding in CBZ Holdings Limited
Rank Shareholder Percentage Ownership
1 CBZ Holdings Limited 24.58
2 Government of Zimbabwe 16.01
3 Libyan Foreign Bank 14.06
4 National Social Security Authority of Zimbabwe 11.71
5 PIM Nominees (Private) Limited 6.70
6 Old Mutual Life Association Company Zimbabwe Limited 5.45
7 Stanbic Nominees (Private) Limited–NNR 4.34
8 PIM Nominees–NNR 1.72
9 SCB Nominees 1.53
10 Stanbic Nominees (Private) Limited 1.42
11 Others 12.48
Total 100.00

See also edit

References edit

  1. ^ The Herald Staff (29 May 2018). "Zimbabwe: CBZ Appoints New CEO". The Zimbabwe Herald via AllAfrica.com. Harare. Archived from the original on 31 May 2018. Retrieved 31 May 2018.
  2. ^ a b c d e CBZ Holdings (15 March 2018). "Annual Report for the Year Ended 31 December 2017". Harare: CBZ Holdings Limited. Archived from the original on 14 May 2018. Retrieved 13 May 2018.
  3. ^ "CBZ Holdings Wealth Hub Profile". 7 August 2023.
  4. ^ Reutors (13 May 2018). "Company Profile of CBZ Holdings Limited". Reuters.com. Retrieved 13 May 2018.
  5. ^ Reserve Bank of Zimbabwe (30 June 2014). "Profile of CBZ Bank Limited". Harare: Reserve Bank of Zimbabwe. Retrieved 13 May 2018.
  6. ^ Google (13 May 2018). "Location of the headquarters of CBZ Bank Limited" (Map). Google Maps. Google. Retrieved 13 May 2018.
  7. ^ Reserve Bank of Zimbabwe (30 June 2014). "Profile of CBZ Bank Limited". Harare: Reserve Bank of Zimbabwe. Retrieved 13 May 2018.

External links edit

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