{"id":116570,"date":"2026-04-21T20:24:37","date_gmt":"2026-04-21T18:24:37","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/cbz-clarifies-phased-settlement-plan-for-legacy-debt"},"modified":"2026-04-21T22:30:09","modified_gmt":"2026-04-21T20:30:09","slug":"cbz-clarifies-phased-settlement-plan-for-legacy-debt","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/cbz-clarifies-phased-settlement-plan-for-legacy-debt","title":{"rendered":"CBZ Clarifies Phased Settlement Plan for Legacy Debt"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Zimbabwe. <\/strong><\/span>CBZ Holdings says its US$74,84 million legacy debt will be settled gradually through receipts from the Reserve Bank of Zimbabwe (RBZ) and the Ministry of Finance, Economic Development and Investment Promotion, and not on a ZiG1:US$1 basis as earlier indicated.<\/p>\n<p>The financial institution had initially signalled that the legacy obligation would be addressed under a structured 1:1 settlement arrangement with the central bank, aimed at protecting its balance sheet.<\/p>\n<p>However, in a statement, CBZ said the settlement will now be processed through phased receipts from the RBZ and Treasury.<\/p>\n<p>The clarification comes as the group moves to safeguard its capital position while pursuing an ambitious regional and ultimately continental expansion strategy.<\/p>\n<p>\u201cIncluded in the deposits balance above are amounts denominated in USD amounting to US$74 846 181 (December 2024: US$80 634 302), being legacy liabilities of US$46 177 401 (December 2024: US$46 177 401) and nostro gap accounts of US$28 668 781 (December 2024: US$34 456 901), which are shown at ZiG1 944 556 181 (December 2024: ZiG2 080 244 040),\u201d CBZ said.<\/p>\n<p>\u201cThese liabilities are expected to be funded from receipts from the Reserve Bank of Zimbabwe and the Ministry of Finance, Economic Development and Investment Promotion, receivable on a gradual basis in accordance with the legacy debt settlement framework agreed among the parties during the year ended 31 December 2019.\u201d<\/p>\n<p>Under these modalities, the counter parties will progressively provide funding to the group in respect of all registered nostro gap accounts and legacy liabilities.<\/p>\n<p>\u201cTo date, US$90 794 290 (December 2024: US$70 259 297) has been made available under this arrangement, demonstrating the willingness and capability of the counter parties to honour the settlement agreement,\u201d CBZ said.<\/p>\n<p>\u201cThe group has, however, identified key risks associated with the legacy liabilities and nostro gap accounts, which are detailed in the Group Annual Report.\u201d<\/p>\n<p>The annual report covers the period ended December 31, 2025.<\/p>\n<p>CBZ said settling these obligations serves as a key de-risking mechanism, transforming a volatile multi-million-dollar liability into a predictable, fixed-cost administrative process.<\/p>\n<p>In that regard, the group\u2019s balance sheet remained resilient, with total assets rising to ZiG41,15 billion in the 2025 financial period, from ZiG34,42 billion in the prior year.<\/p>\n<p><strong>For More News And Analysis About <span style=\"color: #ff6600\">Zimbabwe<\/span> Follow <span style=\"color: #ff6600\">Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Zimbabwe. CBZ Holdings says its US$74,84 million legacy debt will be settled gradually through receipts from the Reserve Bank of Zimbabwe (RBZ) and the Ministry of Finance, Economic Development and Investment Promotion, and not on a ZiG1:US$1 basis as earlier indicated. The financial institution had initially signalled that the legacy obligation would be [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":116569,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,12],"tags":[19],"class_list":["post-116570","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-zimbabwe"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>CBZ Clarifies Phased Settlement Plan for Legacy Debt - zimbabwe<\/title>\n<meta name=\"description\" content=\"CBZ Holdings says its US$74,84 million legacy debt will be settled gradually through receipts from the Reserve Bank of Z ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/cbz-clarifies-phased-settlement-plan-for-legacy-debt\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBZ Clarifies Phased Settlement Plan for Legacy Debt\" \/>\n<meta property=\"og:description\" content=\"CBZ Holdings says its US$74,84 million legacy debt will be settled gradually through receipts from the Reserve Bank of Z ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/cbz-clarifies-phased-settlement-plan-for-legacy-debt\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2026-04-21T18:24:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-21T20:30:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2026\/04\/sm_1776803250.629157.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"492\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/cbz-clarifies-phased-settlement-plan-for-legacy-debt#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/cbz-clarifies-phased-settlement-plan-for-legacy-debt\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"CBZ Clarifies Phased Settlement Plan for Legacy Debt\",\"datePublished\":\"2026-04-21T18:24:37+00:00\",\"dateModified\":\"2026-04-21T20:30:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/cbz-clarifies-phased-settlement-plan-for-legacy-debt\"},\"wordCount\":352,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/cbz-clarifies-phased-settlement-plan-for-legacy-debt#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2026\/04\/sm_1776803250.629157.jpg\",\"keywords\":[\"Zimbabwe\"],\"articleSection\":[\"all news\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/cbz-clarifies-phased-settlement-plan-for-legacy-debt#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/cbz-clarifies-phased-settlement-plan-for-legacy-debt\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/cbz-clarifies-phased-settlement-plan-for-legacy-debt\",\"name\":\"CBZ Clarifies Phased Settlement Plan for Legacy Debt - 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