FINANCIAL services juggernaut, CBZ Holdings Limited (CBZ), has secured about US$200 million in credit lines from its half-a-billion target for this year, surpassing last year, businessdigest can report.
At the beginning of the year, CBZ set a goal to raise US$500 million in credit lines this year to tackle the country’s liquidity challenges and support economic growth.
The credit lines are to support the group’s efforts to invest in many projects across Zimbabwe as part of its development.
Last year, CBZ secured at least US$115 million in credit lines.
“Number one, you know, we are mobilising what you call lines of credit. Because of tight liquidity here, money to invest out is little,” CBZ chairman Luxon Zembe told businessdigest on the sidelines of last week’s Zimbabwe National Chamber of Commerce 2025 annual congress held in Victoria Falls.
“So, we are mobilising lines of credit, and we have said this year we should get to about US$300 million in terms of lines of credit to support the business.”
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He said the group had come up with policies that would bring in investors.
The Bankers Association of Zimbabwe revealed that some regional and niche international banks are beginning to “cautiously” re-engage with local banks to re-establish correspondent banking relationships.
“When we go out there and do pitches on the international markets about how good Zimbabwe is, it is what investment opportunities there are in Zimbabwe,” Zembe said.
“So that is one of our responsibilities as well, to go out there and mobilise investment, good investors, into our country. As of now, we are almost US$200 million. So, by the end of the year, we will have achieved US$300 million.”
He added that these lines of credit would be secured from foreign banks, which include the African Export–Import Bank and African Development Bank.