CBZHL speaks on ZBFHL transaction
The proposed merger between CBZ Holdings Limited (CBZHL) and ZB Financial Holdings Limited (ZBFHL), meant to create Zimbabwe’s largest financial institution,is on the verge of collapse. This follows the imposition of stringent conditions precedent by the Competition and Tariff Commission (CTC) , raising doubts about the feasibility of the deal. CBZHL board chairman, Luckson Zembe, said that regulatory hurdles have jeopardised the transaction. He said from their own assessment, some of the conditions do not make much sense from a national perspective as well as from an organisational perspective. Zembe expressed frustration over the CTC’s tough stance, emphasising the strategic importance of creating a robust financial institution capable of driving Zimbabwe’s economic ambitions. – Business Times January 9, pg 1
