HARARE, Jan 22 (NewsDayLive) - CBZ Holdings Limited has abandoned its plans to acquire a complementary business in the financial services sector after being frustrated by conditions set by the Competition and Tariffs Commission (CTC).
The company announced that it received the CTC’s terms and conditions on December 9, 2024, and its board decided not to proceed with the transaction.
“The company will no longer proceed with the transaction,” CBZ Holdings said in a statement, adding that no further announcements would be made on the matter.
The planned acquisition had been stated in cautionary statements, including the most recent one issued on November 4, 2024.
CBZ Holdings, one of Zimbabwe’s leading financial institutions, assured stakeholders it remains committed to its strategic goals despite the failed acquisition deal.
