First Capital Bank (FCB) secured new lines of credit from the African Export-Import Bank (Afreximbank) for a total of USD 20 million. This comes after the bank successfully utilised a EUR12.5 million line of credit from the European Investment Bank (EIB). This is contained in the bank's audited financial results for the year ended December 31, 2023.
Minority shareholders in First Mutual Holdings Limited (FMHL) continue to face an extended wait as CBZ Holdings Limited (CBZHL) awaits regulatory approval to acquire additional shares in the company.
First Capital Bank Limited (FCB) has revealed a 26% increase in adjusted profit after tax in its abridged consolidated financial statements for the year ended December 31, 2023. An important caveat, however, exists. The abridged statements do not include all the disclosures mandated by International Financial Reporting Standards (IFRS).
In a further update on its ongoing acquisition plans, CBZ Holdings Limited (CBZ), a Zimbabwean banking group, has announced it is confident regulatory approval for the merger with ZB Financial Holdings Limited (ZBFH) will be secured by the end of April 2024.
Zimbabwe Stock Exchange listed company, Old Mutual Limited, a leading African financial services group, has received crucial regulatory approval to establish a fully-fledged bank in South Africa.
HARARE - The Reserve Bank of Zimbabwe (RBZ) Governor John Mushayavanhu has outlined a comprehensive reform plan for the central bank which will include internal restructuring and rebranding in order to regain the lost public trust.
HARARE - Zimbabwean banking group, CBZ Holdings Limited (CBZ), has announced a delay in publishing its financial statements for the year ended December 31, 2023. This delay is attributed to ongoing complications surrounding its significant stake in First Mutual Holdings Limited (FMHL).
HARARE - A motion that was tabled in Parliament which seeks to amend the Deposit Protection Act (DPA) in order to strengthen protections for ordinary savers in the event of bank closures or liquidations has received tremendous support from legislators.
HARARE — The Reserve Bank of Zimbabwe (RBZ) has been unable to resume its Foreign Exchange Auction, a critical measure against inflation, since December 12, 2023, due to a severe shortage of foreign currency.
