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At this threshold, CBZ, as required by the Zimbabwe Stock Exchange listing rules, made a mandatory offer to the remaining shareholders of FMHL for their shares.
According to group chief executive officer Lawrence Nyazema, the funds are expected to be disbursed before year-end, providing a much-needed injection of capital for businesses.
The banker’s call to action resonated deeply with attendees, as he highlighted the importance of adapting to the ever-changing landscape of the financial services sector.
In a statement yesterday, CBZ Holdings said it “will no longer be proceeding with the mandatory offer to the minority shareholders in First Mutual Holdings Limited.”