CBZ Holdings
CBZ Holdings logo | |
| Company type | Public |
|---|---|
| ZSE: CBZ | |
| Industry | Financial services |
| Founded | 1980 |
| Headquarters | Harare, Zimbabwe |
Key people | Luxon Zembe (Group chairman) Lawrence Nyazema (Group chief executive)[1] |
| Products | Zikimall, Vehicle in Transit Insurance, Zikicash, Debit Cards, Credit Cards, Mortgages, Wealth Management, Properties, Commodities Trading |
| Revenue | Aftertax: ZWG 868.1 billion (H1 2025)[2] |
| Total assets | ZWG 33.97 trillion (2024)[2] |
Number of employees | 1,200 (2025) [3] |
| Website | cbz |
CBZ Holdings Limited is a diversified financial services conglomerate in Zimbabwe. The group operates through subsidiaries in banking, insurance, asset management, investments, wealth management, mortgages, and retail finance. It is one of the largest financial services groups in Zimbabwe by asset base, and its shares trade on the Zimbabwe Stock Exchange under the symbol CBZ.
Location
The Group Head Office is at 5 Campbell Road, Pomona, Borrowdale, Harare.
Overview
CBZ reported ZWG 34.42 billion in total assets, ZWG 21.59 billion in customer deposits and ZWG 7.92 billion in shareholders’ equity for the financial year ended 31 December 2024. Profit after tax for FY2024 was ZWG 168.05 million on total income of ZWG 4.10 billion.
For the quarter ended 31 March 2025, the Group reported profit after tax of ZWG 537.5 million, total deposits of ZWG 26.79 billion and an asset base of ZWG 38.75 billion.
For the half-year ended 30 June 2025, CBZ reported total assets of ZWG 38.46 billion and shareholders’ equity of ZWG 8.94 billion.
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.[4] The member businesses of the Group are as illustrated in the table below, as at 31 December 2017.[2]
| 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
CBZ Holdings Limited is a publicly traded company. Its shares are 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]
| 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
References
- ^ "CBZ Holdings Appoints Lawrence Nyazema as Group CEO".
- ^ a b c d 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.
- ^ "CBZ Holdings Wealth Hub Profile". 7 August 2023.
- ^ Reserve Bank of Zimbabwe (30 June 2014). "Profile of CBZ Bank Limited". Harare: Reserve Bank of Zimbabwe. Retrieved 13 May 2018.