{"id":40670,"date":"2021-05-21T18:31:35","date_gmt":"2021-05-21T16:31:35","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/?p=40670"},"modified":"2021-05-21T18:01:52","modified_gmt":"2021-05-21T16:01:52","slug":"cbz-to-list-on-victoria-falls-stock-exchange","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/cbz-to-list-on-victoria-falls-stock-exchange","title":{"rendered":"CBZ To List On Victoria Falls Stock Exchange"},"content":{"rendered":"

Africa-Press<\/a> – Zimbabwe<\/a>. <\/strong><\/span>Bloomberg<\/b> – CBZ Holdings Ltd., the biggest bank in Zimbabwe, plans to list on the US dollar-denominated stock exchange in Victoria Falls, as part of efforts to ignite foreign interest in the lender.<\/p>\n

The firm is \u201cactively exploring\u201d a listing, which could address concerns for foreign investors of having funds stuck in the country, Chief Executive Officer Blessing Mudavanhu said in an interview at the lender\u2019s headquarters in Harare on Friday.<\/p>\n

The lender is currently only listed on the main exchange in Harare. CBZ chairman Marc Holtzman, a 30-year banking veteran who has worked at Barclays Plc and ABN Amro Bank NV, said the Victoria Falls listing will take place this year.<\/p>\n

\u201cIf the Victoria Falls Stock Exchange does everything we believe and think it can do, there\u2019ll be no need to list dually,\u201d Holtzman said during the interview.<\/p>\n

A listing on the so-called \u201cVFEX\u201d will also provide the lender with an avenue to also explore growth opportunities, particularly within the southern African region.<\/p>\n

\u201cWe still have a huge appetite for the local market, however, we cannot rule out expansion outside of Zimbabwe when the opportunity arises,\u201d said Holtzman.<\/p>\n

CBZ has signed on to two US-based correspondent banking relationships since the US Treasury Department cleared the lender of a $385 million penalty for processing transactions on behalf of ZB Bank Ltd., which was then under American sanctions.<\/p>\n

\u201cThis has improved our operations significantly,\u201d Holtzman said.<\/p>\n

The lender on Friday reported that full-year 2020 profit jumped more than sixfold to Z$6.15 billion, from Z$920 million in 2019.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. Bloomberg – CBZ Holdings Ltd., the biggest bank in Zimbabwe, plans to list on the US dollar-denominated stock exchange in Victoria Falls, as part of efforts to ignite foreign interest in the lender. The firm is \u201cactively exploring\u201d a listing, which could address concerns for foreign investors of having funds stuck in […]<\/p>\n","protected":false},"author":84,"featured_media":40669,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6,35,15],"tags":[1493,2189,19],"class_list":["post-40670","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-zimbabwe-2","tag-zimbabwe"],"yoast_head":"\nCBZ To List On Victoria Falls Stock Exchange - zimbabwe<\/title>\n<meta name=\"description\" content=\"Bloomberg - CBZ Holdings Ltd., the biggest bank in Zimbabwe, plans to list on the US dollar-denominated stock exc ...\" \/>\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-to-list-on-victoria-falls-stock-exchange\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBZ To List On Victoria Falls Stock Exchange\" \/>\n<meta property=\"og:description\" content=\"Bloomberg - 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