NMBZ Holdings Limited

NMB Bank Limited was established in October 1992 by a group of Zimbabwean entrepreneurs who had previously held senior positions at international financial institutions such as the World Bank and International Finance Corporation. It was registered as an accepting house in May 1993 and received its commercial banking licence in December 1999. Parent company NMBZ Holdings listed on the Zimbabwe Stock Exchange in early 1997, simultaneously admitted to the London Stock Exchange, with the public offer oversubscribed 4.5 times in Zimbabwe and 2 times in London. The bank has since attracted a series of institutional investors: African Century Financial Services acquired an 18.25% stake in 2010; FMO, Norfund and AfricInvest collectively acquired 27% in 2012; and in 2016 FMO, Norfund and Rabobank consolidated their African investments into Arise, becoming the second-largest shareholder at 17.11%. From 2014 the bank pivoted toward mass-market and SME-focused expansion leveraging technology.

Corporate structure

NMBZ Holdings is the Zimbabwe Stock Exchange-listed investment holding company for NMB Bank Limited, a registered commercial bank. The Group is governed by a Board of Directors chaired on an independent non-executive basis, with an executive team led by the Chief Executive Officer and Chief Finance Officer, supported by a Head of Legal/Company Secretary.