CBZ blocked from increasing FMHL stake

CBZ Holdings has confirmed that it will not proceed with its planned buyout of minority shareholders in First Mutual Holdings Limited (FMHL), following a decision by the Competition and Tariff Commiss...

FML bosses fleece policyholders

FIRST Mutual Life Assurance (FML) managers set up an employee mortgage scheme and an employee staff loan scheme without the knowledge of the board, resulting in policyholders being prejudiced of more ...

CBZ opens Johannesburg office

CBZ Bank Limited, a wholly-owned subsidiary of the diversified and listed financial services group CBZ Holdings (CBZH), has opened a new office in Sandton, Johannesburg, South Africa.CBZH prov...

Mnangagwa tightens his grip on levers of Zimbabwe's Treasury

WITH his close business ally John Muyashavanhu now confirmed as the incoming Reserve Bank of Zimbabwe (RBZ) governor, George Guvamatanga as Finance permanent secretary — chief accounting officer of ...

CBZ close to ZB takeover

CBZ Holdings Limited (CBZHL) is on the verge of acquiring a controlling stake in ZB Financial Holdings Limited (ZBFHL) as part of its strategy to become a significant player in the financial services ...

Bankers plan to establish a new financial behemoth

ON 3 September 2021, The NewsHawks exclusively published a story that government, bankers and investors, including local business tycoon Kudakwashe Tagwirei, are working on a plan to create the bigges...

CBZ swoops on FML shares as new financial group emerges

CBZ Holdings, currently trading under cautionary, has secured a 31.22% stake in First Mutual Holdings Limited (FML), paving the way for the creation of a US$2.5 billion financial behemoth to rival Old...

Biti claims that proposed bank mergers illegal

FORMER Finance minister Tendai Biti, who is also a former chairperson of the National Assembly's Public Accounts Committee, said the proposed mergers of financial institutions involving government ent...

Govt mulls merger of six banks into three entities

A PROPOSAL to merge six financial institutions into three big ones is being considered by the Zimbabwean government, in a different consolidation process from the CBZ Holdings, ZB Financial Holdings, ...

FMHL in new cellphone insurance venture

Still smarting from a public spat with Zimbabwe's largest mobile telephony company Econet Wireless over the ill-fated EcoLife life assurance product, listed insurance group First Mutual Holdings Limit...