CBZ Holdings
TypePublic
ZSE: CBZ
IndustryFinancial services
Founded1980 (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

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]

Location

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

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

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
RankName of OwnerAsset ValuePercentage OwnershipNotes
1CBZ Bank LimitedUS$1,991,520,000100%Commercial Bank
2CBZ Life InsuranceUS$18,580,000100%Life Insurance
3CBZ General InsuranceUS$13,220,000100%General Insurance
4CBZ Asset Management (Datvest)US$3,720,000100%Asset Management
Total$2,192,660,000100%

Ownership

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
RankShareholderPercentage Ownership
1CBZ Holdings Limited24.58
2Government of Zimbabwe16.01
3Libyan Foreign Bank14.06
4National Social Security Authority of Zimbabwe11.71
5PIM Nominees (Private) Limited6.70
6Old Mutual Life Association Company Zimbabwe Limited5.45
7Stanbic Nominees (Private) Limited–NNR4.34
8PIM Nominees–NNR1.72
9SCB Nominees1.53
10Stanbic Nominees (Private) Limited1.42
11Others12.48
Total100.00

See also

References

  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. 1 2 3 4 5 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.
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