CBZ Holdings Limited
CBZ Holdings Limited is a financial services company in Zimbabwe, with subsidiaries in banking, insurance, investments, wealth management, mortgages, and retail finance.
| Legal Name | CBZ Holdings Limited |
|---|---|
| Year Founded | 1980 (45 Years Ago) |
| Company Name | CBZ Holdings Limited |
| Industry | Financial Services |
| Founded | 1980 (45 years ago) |
| Headquarters | 5 Campbell Road, Pomona, Borrowdale, Harare, Zimbabwe. |
| Traded As | ZSE: CBZ |
| Key People | Marc Holtzman (Group Chairman) Blessing Mudavanhu (Group Chief Executive) |
| Abbreviation Meaning | Commercial Bank of Zimbabwe |
| Website |
Overview
CBZ Holdings Limited stands as one of Zimbabwe's largest financial institutions, offering a diverse range of services tailored to meet the needs of individuals, businesses, and corporations. With a commitment to innovation and customer satisfaction, CBZ has solidified its position as a trusted partner in the financial sector. [1]
History
The institution was established in 1980 as the Bank of Credit and Commerce Zimbabwe Limited and they faced financial challenges in 1991, leading to their acquisition by the Government of Zimbabwe and subsequent rebranding to Commercial Bank of Zimbabwe Limited (CBZ). In 2005, a 'strategic reorganisation' led to the formation of CBZ Holdings Limited as the holding company and with CBZ Bank as its flagship subsidiary. [2]
Subsidiaries
CBZ Holdings' portfolio includes:
- CBZ Bank Limited: A commercial bank offering comprehensive banking solutions.
- CBZ Life Insurance: Offers life insurance products for various client needs.
- CBZ General Insurance: Offers a range of general insurance services.
- CBZ Asset Management (Datvest): Specializes in asset management and investment services.
These subsidiaries work to provide holistic financial solutions to their broad clientele. [1]
Leadership
The institution's leadership is made up of seasoned professionals who are dedicated to steering the company towards sustained growth and innovation. As of 2023, the Group Chairman is Marc Holtzman, and the Group Chief Executive is Blessing Mudavanhu. [2]
Financial Highlights
As of 2017, CBZ Holdings reported an asset base exceeding US$2.192 billion and after-tax revenue of US$27.84 million, mainly highlighting their robust standing in the country's financial sector.
Recent Developments
In January 2025, CBZ Holdings issued a notice to shareholders regarding a potential acquisition in the financial sector. The company was intending to increase its stake in First Mutual Holdings (FML) by making a mandatory offer to acquire additional shares in the firm. However, the Competition and Tariff Commission (CTC) intervened by setting regulatory conditions that CBZ Holdings found unfavourable. So as a result, CBZ opted not to proceed with the acquisition. Instead, they will retain their existing 31.22% stake in FML. [3]