NMBZ Holdings Limited has completed the acquisition of a majority shareholding in Zambian microfinance entity Pulse Financial Services Limited, trading as Entrepreneurs Financial Centre (EFC) Zambia.
This marks a significant step in the Zimbabwean financial services group’s regional expansion strategy.
The transaction has received regulatory approvals from the Bank of Zambia (BoZ) and the country’s Competition and Consumer Protection Commission (CCPC).
In a statement, the Zambian entity said the acquisition aligned with NMBZ’s regional growth ambitions and its commitment to advancing financial inclusion across Southern Africa.
“NMBZ Holdings Limited (“NMBZ”), a leading Zimbabwean financial services group, has completed the acquisition of a majority shareholding in Pulse Financial Services Limited, trading as Entrepreneurs Financial Centre (EFC) Zambia, a licensed deposit-taking microfinance institution,” reads part of the statement.
“The acquisition follows approvals from the Bank of Zambia (BoZ) and the Competition and Consumer Protection Commission (CCPC). This milestone marks an exciting new chapter for EFC Zambia as it becomes part of a strong and growing financial service group.
“The transaction also aligns with NMBZ’s regional growth strategy and commitment to advancing financial inclusion across Southern Africa.”
NMBZ Holdings chief executive officer Mr Gerald Gore described the group’s entry into the Zambian market through EFC Zambia as both strategic and transformative.
“We are delighted to welcome EFC Zambia into the NMBZ family and look forward to working closely with the team to accelerate financial inclusion, strengthen support for MSMEs, and introduce innovative digital banking solutions,” he said.
“This acquisition reflects our long-term commitment to Zambia and to building financial institutions that fuel economic growth and prosperity.”
EFC Zambia chief executive officer Mr Bedah Salasini said the transaction represents a major milestone for the institution and its stakeholders.
“This is a significant step forward for EFC Zambia. Partnering with NMBZ gives us greater financial strength, enhanced digital solutions, and access to broader regional expertise,” he said. “Most importantly, it allows us to continue serving our clients while introducing innovative products that support Zambia’s economic growth.”
Mr Salasini said the acquisition brings continuity while opening up new opportunities for clients and stakeholders.
“EFC Zambia will retain its strong focus on serving MSMEs. With the backing of NMBZ, clients will not only gain access to a broader suite of financial products, but also benefit from modern digital solutions that allow them to transact anytime, anywhere,” he said.
He noted that these enhanced capabilities will enable EFC Zambia to scale efficiently, expand its product offerings and deliver inclusive solutions that support trade and sustainable growth. Employees will also benefit from expanded career development opportunities within a larger regional financial services group.
The broader market, he added, can expect sustained investment and innovation aimed at driving Zambia’s economic transformation.
“The transaction has been consummated on shared values of integrity, client-centricity, and sustainable growth,” said Mr Salasini.
“NMBZ is committed to building on EFC Zambia’s legacy while introducing capabilities that will strengthen its role as a catalyst for entrepreneurship, job creation, and inclusive economic development in Zambia.”
Pulse Financial Services Limited, trading as Entrepreneurs Financial Centre (EFC) Zambia, is a licensed deposit-taking microfinance institution established to promote financial inclusion and provide tailored financial solutions to Zambia’s micro, small and medium-sized enterprises (MSMEs).
With a strong history of serving entrepreneurs and communities, EFC Zambia said it remains committed to driving economic empowerment through accessible, innovative and customer-focused banking services.-newsda
