CBZ Holdings
IndustryFinancial Services
Founded1980; 42 years ago (1980)
HeadquartersHarare, Zimbabwe
ProductsLoans, Savings, Checking, Investments, Debit Cards, Credit Cards, Mortgages
RevenueIncrease Aftertax:US$24.04 million (2017)[1]
Total assetsUS$1.991 billion (2017)[1]
Number of employees
923 (2014)[2]

CBZ Holdings (formerly Commercial Bank of Zimbabwe, and Jewel Bank) is one of the country's biggest and vibrant financial institutions which has stood the taste of time. The bank was established in 1980. The Bank of Credit and Commerce Zimbabwe Limited (BCCZ) was a joint venture between the Government of Zimbabwe and the Bank of Credit and Commerce International Holdings Limited (BCCIH). The Holdings company has major investments in various sectors of the economy which include banking, micro finance, properties, insurance and securities. [3] CBZ Holdings which administers the CBZ Bank has been credited for being one of the strongest banks which survived the hyper-inflation era between 2002 and 2007. It has also been known for producing some of the famous administrators such as former Reserve Bank of Zimbabwe governor Gideon Gono and the current Governor John Mangudya.[4]


In 1991, the government of Zimbabwe saved the BCCIH from collapse by acquiring total shareholding in the Bank. BCCIH acquired a new identity as Commercial Bank of Zimbabwe (CBZ).[3] The Bank's new identity was augmented by the appointment of a new team of management whose mandate was to steer CBZ to growth and success.

The first major turnaround move occurred in May 1995 when a decision was taken to remove non performing loans from the normal portfolio of advances. These were placed under the separate entity, Commercial Bank of Zimbabwe Nominees Limited (CBZN). This strategy allowed the more efficient mobilisation of financial resources and enabled greater focus on critical issues of banking business and rehabilitation of all delinquent advances.[3]


CBZ embarked on a diversification path in 1997 when the government of Zimbabwe sold back its shares to the bank in order to recapitalise it. An agreement was reached with the Amalgamated Banks of South Africa (ABSA) to become the Bank's technical partner. ABSA took up 25% in shareholding.[3]

Apart from ABSA, the International Finance Corporation, an arm of the Word Bank, acquired a further 15% of equity. Nonetheless, the greater part of CBZ shares (55%) were issued to the public when the Bank fully privatised and was listed on Zimbabwe Stock Exchange on 29 June 1998. By then the Bank had become the third largest in Zimbabwe in terms of deposits. It has also diversified its financial services range with the most significant addition being the establishment of the Microfinance Unit to support small to medium sized business enterprises.[3]

Growth and Development

In 2004, the bank adopted the vision to establish a financial one stop shop which was poised to provide all banking services under one roof. This refocus propelled the establishment of CBZ Holdings (CBZH) as an entity poised to provide all client segments with a one-stop shopping experience for financial services. When CBZ Holdings Limited was operationalised in June 2005, period of intense growth through diversification began.

CBZ Group Structure

  1. CBZ Bank Limited
  2. CBZ Asset Management
  3. CBZ Securities
  4. CBZ Properties
  5. CBZ Transcontinental Equity Growth Fund
  6. Optimal Insurance
  7. CBZ Life
  8. Starlite
  9. Avoncet
  10. Mavella.[5]


  1. Banking
  2. Home Loans
    1. Housing Projects 2018 (pdf download)
  3. Short Term Insurance
  4. Long Term Insurance
  5. Asset Management
  6. Properties

Corporate Social Involvement

CBZ Bank, a subsidiary of CBZ Holdings has been the official sponsor of the Zimbabwe National Cricket Team. The Bank entered into a 14 month partnership with Zimbabwe Cricket leading to the 2011 World Cup. In line with CBZ Bank's ongoing consolidation the bank seeks to position itself as a strong and progressive brand. Other social responsibilities identified with the CBZ Holdings company include;

  1. Educational Enhancement
  2. Improving Human Welfare
  3. Sporting Excellence
  4. National Development
  5. Cricket.[6]


  1. 1.0 1.1 Cite error: Invalid <ref> tag; no text was provided for refs named One
  2. Reserve Bank of Zimbabwe (30 June 2014). "Profile of CBZ Bank Limited". Harare: Reserve Bank of Zimbabwe. Retrieved 13 May 2018.
  3. 3.0 3.1 3.2 3.3 3.4 ,History, "CBZ", retrieved:31 Jul 2014"
  4. Z. Murwira, Gono’s Parly entrance looms, "The Herald", published:30 Jul 2014,retrieved:31 Jul 2014"
  5. , Group Structure, "CBZ Holdings", retrieved:31 Jul 2014"
  6. , Sponsorship & Donations, "CBZ Holdings", retrieved:31 Julk 2014"