Afrasia Bank Zimbabwe Limited
| Company type | Private |
|---|---|
| Industry | Financial Services |
| Founded | 1997 |
| Headquarters | 53 Samora Machel Avenue Harare, Zimbabwe |
Key people | Sibusisiwe Bango[1] Group Chairman |
| Products | Loans, Checking, Savings, Investments, Debit Cards |
| Revenue | US$3.3 million (2012) |
| Total assets | US$201 million (2012) |
| Website | Homepage |
Afrasia Bank Zimbabwe Limited, also referred to as Afrasia Bank Zimbabwe, is a commercial bank in Zimbabwe. It is one of the regulated banking institutions licensed by the Reserve Bank of Zimbabwe, the country's central bank and national banking regulator.[2]
History
The bank was established in 1997, as Kingdom Bank Zimbabwe Limited, by Lysias C Sibanda, Frank Kufa, Nigel Chanakira and Solomon Mugavazi . In January 2012, AfrAsia Bank Limited, a financial services provider, based in Mauritius, invested US$9.5 million in the bank's holding company, thereby acquiring 35% ownership in the Zimbabwean financial group.[3] Until September 2013, the bank was a subsidiary of Kingdom Financial Holdings Limited (KFHL), a publicly traded company on the Zimbabwe Stock Exchange. In 2013, due to changes in ownership, KFHL rebranded to AfrAsia Zimbabwe Holdings Limited (AZHL), while the bank took up its present name. The 35.7% shareholding that the holding company previously held in Kingdom Africa Bank Limited, an investment bank in Botswana, was disposed of in September 2013.[4]
Subsidiaries
The AfrAsia Bank Zimbabwe Group includes the following bank subsidiaries:[5]
- AfrAsia Capital Management (Private) Limited
- MicroKing Finance Limited - A microfinance company
Shareholding
As of October 2013[update], shareholding in the stock of the bank, is as depicted in the table below:[6][7]
| Afrasia Bank Zimbabwe Limited Stock Ownership | ||||||||||||
|
See also
- List of banks in Zimbabwe
- Reserve Bank of Zimbabwe
- Economy of Zimbabwe
- FDH Bank
- AfrAsia Bank Limited
References
- ^ Sibusisiwe Bango Is Group Chairman
- ^ List of Registered Banking Institutions In Zimbabwe Archived 2012-04-17 at the Wayback Machine
- ^ "Zimbabwe: Kingdom Seals Deal With AfrAsia Bank Bank". The Herald (Harare). 2012-01-24. Retrieved 2017-09-06.
- ^ Nigel Chanakira Sells His 30% Stake In Afrasia Kingdom Zimbabwe
- ^ Moyo, Roman (2013-11-30). "Zimbabwe: New Era for AfrAsia Zimbabwe Group". New Zimbabwe (London). Retrieved 2017-09-06.
- ^ Reporter, Business (2013-10-22). "Zimbabwe: Chanakira Gets U.S $12 Million for Kingdom Exit". New Zimbabwe (London). Retrieved 2017-09-06.
{{cite news}}:|first=has generic name (help) - ^ "AfrAsia ups Kingdom stake | The Herald". www.herald.co.zw. Retrieved 2017-09-06.