Africa-Press – Zimbabwe. TN CyberTech Investments Holdings Limited’s balance sheet strengthened by nearly US$40 million, as staff-cost-to-income and cost-to-income ratios improved by 24% and 100%, respectively, in the group’s half-year ended August 31, 2025.
During the half-year period, the group’s total assets rose to ZiG5,89 billion (US$218,55 million) from ZiG4,8 billion (US$180,71 million) in February.
Hence, the group’s balance sheet added nearly US$40 million as it seeks to be Zimbabwe’s first tech-driven, platform-based, digital financial services hub that will use digital channels to offer borderless, Artificial Intelligence-powered, and secure banking products.
“Operational efficiency improved significantly during the period. Both staff-cost-to-income and cost-to-income ratios recorded notable gains, improving by 24% and 100%, respectively. These results reflect successful process re-engineering, automation, and structural optimisation,” group said.
“Key initiatives included the consolidation of overlapping roles and the expansion of in-house ICT development, which reduced reliance on third-party vendors. This strategic shift is expected to further cut software-licensing and ICT-related costs in the second half of the year.”
Leading the growth in assets were growths of nearly 21% and 20%, respectively, in cash and cash equivalents, as well as loans and advances.
Nyambirai said the group would continue to focus on the digitalisation across products, services, and customer touchpoints to deliver a seamless, omnichannel experience.
“Our smart ecosystem — integrating agents, kiosks, digital platforms, and cyber centres — is designed to enhance accessibility, reduce costs, and broaden financial inclusion across Zimbabwe,” he said.
During the half-year period, digital bank revenue reached ZiG179 million, representing a 40% increase compared to the same period in the prior year.
This performance was driven by strong growth in mobile banking and point of sale channels, the latter rising 89% year-on-year.
“Treasury and funded income segments also performed strongly, with interest-earning assets up 32% and net interest income up 235%,” TN CyberTech Bank Limited chief executive officer Hazvinei Kapfunde said.
“In the second half of the year, the bank will deepen partnerships with corporates in the mining, agriculture, and manufacturing sectors to further strengthen its loan book and funded income base.”
The bank is a subsidiary of TN CyberTech Investments Holdings Limited.
In line with the group’s capital allocation priorities and to preserve liquidity during the current expansion and digitalisation phase, the group’s board resolved not to declare an interim dividend for the period under review.
The bank’s regulatory capital position ended the period above the minimum regulatory requirements of Tier 1 capital of US$30 million.
The group reached a capital adequacy level of 36%.
During the period, the bank achieved a key milestone by developing and deploying its own low-know-your-customer core banking system (May 2025) — a major innovation that enhances autonomy, reduces vendor dependence, and improves service delivery and customer experience.
“Innovation — one of our core IDIFOH (Innovation, Dignity, Industry, Faith, Originality and Humility) values — remains central to our success. During the period under review, we automated RTGS returns and launched new e-commerce platforms in partnership with Visa and MasterCard,” Kapfunde said.
“In the coming months, we plan to roll out WhatsApp Banking, automated remittance services, and digitalised Visa Card issuance.”
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