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5 Investors Make Bids To Acquire Standard Chartered Bank Zimbabwe

5 Investors Make Bids To Acquire Standard Chartered Bank Zimbabwe

Five potential investors, including local and regional firms, have made their bids to acquire Standard Chartered Bank Zimbabwe (StanChart), the oldest financial institution in the nation.

On April 14 of 2022, the London-headquartered bank stated that it would withdraw from Angola, Cameroon, the Gambia, Sierra Leone, Zimbabwe, Jordan, and Lebanon in the Middle East.

According to reports, the company is completely leaving these markets because StanChart accounted for only 1% of its 2021 revenue.

Bill Winters, the chief executive of Standard Bank, stated in April of last year that the financial institution was streamlining its operations while also narrowing its emphasis on the most significant chances for growth.

StanChart’s departure ends a 130-year presence in Zimbabwe.

According to the Independent, five investors have since submitted their bids and the list has since been reduced to three.

Banks which made bids:

i). CBZ Holdings and

ii). FBC Holdings

iii). FNB of South Africa

iv). South African bank Nedbank through its shareholder, Old Mutual Zimbabwe, 

v). A consortium representing Zimbabwean entrepreneurs (names supplied) is also on the list of bidders.

StanChart Zimbabwe spokesperson Lillian Hapanyengwi said the process to identify potential buyers is ongoing.

Another source, however, said the finalisation of the transaction could be delayed by the upcoming general elections but confirmed bids from the five bidders.

This is not the first time that an international financial institution has exited the Zimbabwean market.

On June 2, 2017, Barclays announced the sale of its outpost in Zimbabwe to Malawi-listed lender First Merchant Bank, a continuation of the bank’s exit from Africa.

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11 Comments

kuda 2 weeks ago

tagwirei weCBZ akuda chinhu ichooo toraaaa u will fund from command proceeds


druilad 2 weeks ago

*Makadii mhuri ye Zimbabwe ndinokumbiravo rubatsiro ndirikutsvakavo amai vangu vanonzi Rudo Chuma vayimbogara kuBikita asi kumusha kwavo kuZaka inini ndinonzi Jennifer Mateya ndirimusikana ane makore 17 ndinogara kuZvishavane amai vangu vakandisiya ndichiri muduku ndinokumbiravo awona mssge yangu aisenderewo kunemamwe magrps enyu, ndinokumbirisavo hamadzadiwa anenge asendawo message yangu Mwari vamuitire nyasha Number dzangu dziri pazasi 0716216407*


Anonymous 2 weeks ago

pano panemadzetse unobiwa tamba wakachenjera all the best praying for your restoration

Varaidzo 2 weeks ago

anobiwa zvee ukuti majokes here

Chinese zodiac 2 weeks ago

Ndini ndega here ndaona surname iyi Lillian HAPANYENGWI


Tkt 2 weeks ago

Kkkk ndai ona zvangu
Ndanga ndakato kanganwa nezvake mwanasikana airova gwazhi iyeyu, achiti ukangoda kumu pfimba oku udza kuti hapanyengwi apa, umm
I last heard about her pataka pedza A'Level, when I crossed the border into Mozambique kusvika ndava kwandiri nhasi kuchitsuwa uko

makandinzwa nani? 2 weeks ago

@chinese zodiac
hapanyengwi nekuti vanatsano vacho vanorova munhu... kkkk


Tateguru 2 weeks ago

I am interested in #v, the Consortium.
I might guess successfully apa


Registered Voter 2 weeks ago

@Tateguru try. Im thinking Frank Buyanga and allies since he has interests in Finance and gold bullion or N. Chanakira and allies, ha
im being Chairman of the Consortium.

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cid 2 weeks ago

@druiland,,,marovha EPA pindula auri kupa number dzako hazviperi mushe think dai watangira kufacebook wosearcher that surname they is a small chance kuti Yu may find someone anokupa usefully information


cid 2 weeks ago

@ Chinese,,,wazviona kupi iwe mu China



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