CBZ Holdings wants to grow beyond Zimbabwe into other African countries. The bank's boss, Lawrence Nyazema, told customers and business friends yesterday about these big plans. He said they need to follow their business partners who already work across borders. Its Zimbabwe customers often do business across Africa, and CBZ needs to help them there.
The bank plans to open its first office outside Zimbabwe this year. They've started talking with important people to make this happen fast. South Africa stands out as their main target because it holds most of Africa's money. Nyazema pointed out that staying away from South Africa means missing 70 percent of all insurance business on the continent.
CBZ knows it faces challenges as a newcomer. Nyazema admitted they seem big at home but look small everywhere else. They plan to team up with existing companies through partnerships, new business creation, and buying local firms. Botswana attracts them not for its customer base but because rules there make raising money easier. They can collect cash in Botswana to spend both locally and in other countries.
The company believes new technology will help it succeed abroad. It wants to use data and digital tools to create better banking products everyone can access easily. All these expansion plans fit into CBZ's bigger goal of staying strong as banking changes worldwide. By building connections across borders, CBZ hopes to become a major player in African banking markets.
The bank plans to open its first office outside Zimbabwe this year. They've started talking with important people to make this happen fast. South Africa stands out as their main target because it holds most of Africa's money. Nyazema pointed out that staying away from South Africa means missing 70 percent of all insurance business on the continent.
CBZ knows it faces challenges as a newcomer. Nyazema admitted they seem big at home but look small everywhere else. They plan to team up with existing companies through partnerships, new business creation, and buying local firms. Botswana attracts them not for its customer base but because rules there make raising money easier. They can collect cash in Botswana to spend both locally and in other countries.
The company believes new technology will help it succeed abroad. It wants to use data and digital tools to create better banking products everyone can access easily. All these expansion plans fit into CBZ's bigger goal of staying strong as banking changes worldwide. By building connections across borders, CBZ hopes to become a major player in African banking markets.
