Edwin Mtami
In this week’s column, the ZSE is profiling CBZ Holdings Limited, as a constituent of the ZSE Top 10 Index. Prices and capitalization figures are as at 20 April 2022.
CBZ Holdings
CBZ Holdings is a financial services Group that was established in 1980 as the Bank of Credit and Commerce Zimbabwe Limited (BCCZ).
It was a joint venture between the Government of Zimbabwe and the Bank of Credit and Commerce International Holdings Limited.
In 1991, the Government of Zimbabwe acquired total shareholding in BCCZ and the bank’s name changed to Commercial Bank of Zimbabwe (CBZ). In the year 1997 the Zimbabwean Government sold its shareholding in the Bank in a bid to adequately capitalize it and an agreement was reached with the Amalgamated Banks of South Africa (ABSA) to become the bank’s technical partner. ABSA took up 25 percent in shareholding and the International Finance Corporation, an arm of the Word Bank, acquired a further 15 percent of equity. Nonetheless, the greater part of CBZ shares (55 percent) were issued to the public and the bank was listed on Zimbabwe Stock Exchange on 29 June 1998.
CBZ Holdings’ track record has been achieved through a combination of organic growth, acquisitions, innovation and creating extra sources of revenue through the start-up and development of completely new businesses such as CBZ Securities, CBZ Properties and CBZ Life.
The CBZ Subsidiaries include
CBZ Bank
CBZ Capital
Datvest
CBZ Life
CBZ Agro-Yield
CBZ Risk Advisory
CBZ Properties
CBZ Insurance
CBZ Red Sphere Finance
CBZ Holdings Limited is among the largest companies on the ZSE with a market capitalisation of $68 billion as at 20 April 2022. CBZ’s share price has recorded over 60 percent in capital gains since January 2022 to trade at $130 per share as at 20 April 2022.
The company has recorded a year to date turnover of $616 million and the total number of shares which exchanged hands during this period was 7,5 million shares.
CBZ Holdings has featured consistently in the ZSE Top 10 Index since the inception of the index in 2018. The counter is also a major constituent in the ZSE Top 10 Index and is also a major weight contributor to the following indices on the ZSE:
ZSE Allshare Index
ZSE Top 15 Index
ZSE Top 25 Index
ZSE Financials Index
Information provided in this article is for educational purposes and does not constitute financial advice. You should obtain independent advice from a registered stockbroker or financial advisor before making any financial decisions.
Please note that past performance cannot be relied on as an indication of future performance.
It is important for all prospective investors to carefully consider their financial situation and consult a financial advisor or stockbroker in order to understand the risks involved and ensure the suitability of their situation prior to making any investment decision.
For more information about the ZSE, visit
Website: www.zse.co.zw
Email: info@zse.co.zw
Tel: +263 24 2886830-5