ZBFH to surrender building society licence by year-end

FINANCIAL services group, ZB Financial Holdings (ZBFH), is expecting to comply with the central bank’s conditions to surrender the licence of its building society unit by year-end.

Building societies in Zimbabwe are required to maintain a minimum capital level of US$20 million or its equivalent in local currency.

In its 2024 annual report, ZBFH said that the building society had not complied with this requirement in prior years, leading the firm to offer to surrender the subsidiary’s licence.

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