Nedbank Zimbabwe

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Nedbank Zimbabwe
Type
Bank
IndustryCommercial

Nedbank Zimbabwe is a commercial bank in Zimbabwe. It is a subsidiary of the Nedbank Group headquartered South Africa, itself a subsidiary of Old Mutual Group. The Nedbank Group own 74% of stake in the MBCA Bank, Old Mutual Zimbabwe owns 18.30% and the rest is owned by Rothschild & Sons (3.26%), Banca de Credito Finanziaio (1.05%) and MBCA Employee Share Trust (0.66%).

MBCA Bank was Zimbabwe’s first merchant bank when it was incorporated in 1956 as the Merchant Bank of Central Africa. It was then converted into a commercial bank and adopted the name MBCA Bank in 2004 and had more than 10 branches in Zimbabwe's major towns. In 2018, MBCA Bank changed its name to Nedbank as part of the re-branding initiated by Nebank Group.

“Notice is hereby given in terms of section 25 of the Companies Act (Chapter 24:03) that application will be made not less than 14 days from the date of publication of this notice (January 18 2018) to the chief regist (rar of Companies for his approval to the change of the name of MBCA Bank Limited to Nedbank Zimbabwe Limited Company number 525/1956.”[1]


Shareholders[edit]

  • Nedbank Bank limited (RSA
  • Old Mutual Zimbabwe Limited
  • Mediobanca Banca de Credito Finanziaio (Italy )
  • Nedbank Zimbabwe Employee Share Trust


References[edit]

  1. MBCA to become Nedbank Zimbabwe, , Published:1 February 2018 , Retrieved: 22 February 2018