ZB Financial Holdings says it intends to regain control of Mashonaland holdings
ZB Financial Holdings (ZBFH) says it intends to regain control of Mashonaland Holdings and influence its strategic direction which includes repurposing some properties in line with real estate market trends.
Mash Holdings is a Zimbabwe Stock Exchange (ZSE) listed company, which is engaged in property investment and development.
The Company is focused on the delivery and investment management of commercial, industrial, retail, specialized, and residential properties.
ZBFH chairperson, Pamela Chiromo, said the company intends to support the business in developing its land banks as well as repurposing some properties in line with the real estate market trends to enhance Mash Holdings’ competitiveness. She said:
ZBFH also intends to regain control of the company and influence its strategic direction to unlock trapped value and in the process unleash the latent potential of its underwriting business.
ZBFH is a holding company for a group of companies, which have been providing commercial banking, merchant banking, and other financial services. The Company operates in four segments, including banking, fund management, reinsurance, life assurance, and others.
In 2020 the market witnessed the acquisition of ZB Bank by CBZ holdings. The transaction was a result of NSSA disposing of its 37.79 per cent ZB Financial Holdings (ZBFH) shareholding in exchange for CBZ shares worth ZW$640 million, (US$7.8 million).