CBZ Holdings
Encyclopedia
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
.
, 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. New subsidiaries of the Group were established either through acquisition or internal growth as outlined below:
is listed on the Zimbabwe Stock Exchange
, where it trades under the symbol: CBZH.
The Zimbabwean government remains the Group's largest single investor, although not the majority shareholder.
Conglomerate (company)
A conglomerate is a combination of two or more corporations engaged in entirely different businesses that fall under one corporate structure , usually involving a parent company and several subsidiaries. Often, a conglomerate is a multi-industry company...
in Zimbabwe
Zimbabwe
Zimbabwe is a landlocked country located in the southern part of the African continent, between the Zambezi and Limpopo rivers. It is bordered by South Africa to the south, Botswana to the southwest, Zambia and a tip of Namibia to the northwest and Mozambique to the east. Zimbabwe has three...
. It owns subsidiaries in banking, insurance
Insurance
In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...
, investments, wealth management
Wealth management
Wealth management is an investment advisory discipline that incorporates financial planning, investment portfolio management and a number of aggregated financial services...
, mortgages and retail finance
Finance
"Finance" is often defined simply as the management of money or “funds” management Modern finance, however, is a family of business activity that includes the origination, marketing, and management of cash and money surrogates through a variety of capital accounts, instruments, and markets created...
.
Overview
, CBZ Holdings Limited is a large financial services provider in Zimbabwe, with an asset base in excess of US$595 million, and shareholders' equity in excess of US$71.4 million.History
The flagship business of the Group; CBZ Bank LimitedCBZ Bank Limited
CBZ Bank, whose full name is CBZ Bank Limited, is a commercial bank in Zimbabwe. It is one of the seventeen licensed commercial banks in the country...
, 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
Zimbabwe Stock Exchange
The Zimbabwe Stock Exchange, or ZSE, is the official stock exchange of Zimbabwe. It has been open to foreign investment since 1993. The exchange has about a dozen members and over 65 listed securities...
in 1998. In 2005, the company rebranded, creating CBZ Bank as the main business and CBZ Holdings Limited as the holding company. New subsidiaries of the Group were established either through acquisition or internal growth as outlined below:
- CBZ Asset Management (Pty) Limited - dba Datvest - Established in 2005
- CBZ Properties (Pty) Limited - Established in 2006
- Optimal Insurance (Pty) Limited - Established in 2006
- Beverly Building Society - Acquired in 2007
- Trans Continental Equity Growth Fund (Pty) Limited (“TransCon”)
- CBZ Building Society - Merged with CBZ Bank in 2010
Ownership
CBZ Holdings Limited is a publicly traded company. Its stockStock
The capital stock of a business entity represents the original capital paid into or invested in the business by its founders. It serves as a security for the creditors of a business since it cannot be withdrawn to the detriment of the creditors...
is listed on the Zimbabwe Stock Exchange
Zimbabwe Stock Exchange
The Zimbabwe Stock Exchange, or ZSE, is the official stock exchange of Zimbabwe. It has been open to foreign investment since 1993. The exchange has about a dozen members and over 65 listed securities...
, where it trades under the symbol: CBZH.
The Zimbabwean government remains the Group's largest single investor, although not the majority shareholder.
See also
- CBZ Bank LimitedCBZ Bank LimitedCBZ Bank, whose full name is CBZ Bank Limited, is a commercial bank in Zimbabwe. It is one of the seventeen licensed commercial banks in the country...
- Economy of ZimbabweEconomy of ZimbabweThe economy of Zimbabwe has shrunk significantly after 2000, resulting in a desperate situation for the country and widespread poverty from among others 94% unemployment. The participation from 1998 to 2002 in the war in the Democratic Republic of the Congo set the stage for this deterioration by...
- Reserve Bank of ZimbabweReserve Bank of ZimbabweThe Reserve Bank of Zimbabwe is the central bank of Zimbabwe.-History:The bank traces its history to the Bank of Rhodesia and Nyasaland, founded in March 1956, which in turn was the successor to the Central Currency Board....
- Zimbabwe Stock ExchangeZimbabwe Stock ExchangeThe Zimbabwe Stock Exchange, or ZSE, is the official stock exchange of Zimbabwe. It has been open to foreign investment since 1993. The exchange has about a dozen members and over 65 listed securities...