CBZ scours market for acquisitions, alliances
Listed financial services provider CBZ Holdings is exploring potential acquisitions and alliances in the local and regional markets that align with the group’s growth strategy.
Chief executive officer Dr Blessing Mudavanhu said the group’s operating model changes have resulted in improved strategic execution capacity, which is highly beneficial.
“As part of our growth strategy, we are proactively seeking opportunities to expand the scale and product portfolio of our subsidiaries,” he said in a commentary on the annual 2022 financials.
Dr Mudavanhu said CBZ Holdings was dedicated to creating a sustainable, technology-driven business that utilises the talents of its people to generate positive environmental and social outcomes for all stakeholders. As a result, as part of the digital transformation strategy, the group said it is imperative that it prioritise investments in technology to enhance operational efficiency and elevate the quality of products, services, and customer interactions.
“This is crucial for the sustained success of our company in an ever-growing competitive landscape.
“As a forward-thinking organisation, it is important that we fully embrace the latest digital innovations to provide unparalleled service to our valued clients amidst the disruptive technologies and evolving consumer behaviour brought about by digitalisation,” said Dr Mudavanhu.
He noted that the group continued to witness a significant increase in usage of its digital platforms because of the investment it continues to make in enhancing the features and stability of all customer touchpoints.
“Our investment in technology and the digital platforms also saw us respond faster to the demands for reduced contact and increased accessibility by our customers.
“We also are looking to utilise the digital to broaden our customer base and engage the diaspora as the world is becoming more and more a global village, and we intend to take advantage, especially by engaging Zimbabweans living and working abroad,” said Dr Mudavanhu.
He said the intended continuation of the multicurrency system, in line with the National Development Strategy “NDS 1”, was also expected to enable the group to offer solutions that speak to the evolving business models of its clients.
“The expected launch of the National Financial Inclusion Strategy II by the Reserve Bank of Zimbabwe in 2023 should provide further guidance and alignment to the group’s ongoing ESG initiatives, especially under the financial inclusion pillar,” he said.
According to the group’s chairman, Mr Marc Holtzman, the CBZ group continued to play a significant role in supporting the economy, providing different solutions through its banking, microfinance, insurance, wealth management, risk advisory, and property subsidiaries.
He said in the agricultural space, CBZ Agro-Yield remains a key strategic partner in supporting the government’s quest to make the country food self-sustaining.-herald
