CBZ Holding Limited (CBZ) declared a US$10 million divident this week, with respect to the financial year ended December 31, 2024, a 25% growth from the prior year.
Zimbabwe’s biggest banking group declared a dividend of US$8 million in 2023.
“The board has proposed the declaration of a final dividend of US$10 million or US$1,61 cents per share representing a growth of 25% from the US$8 million paid for the year ended 31 December 2023,” CBZ chairman Luxon Zembe said in a statement accompanying the group's financial results.
He said economic growth was projected at 6%, supported by a strong recovery in agriculture, bolstered by improved rainfall during the 2024/25 season, as well as expansion in mining and power generation.
Zembe said these factors were expected to enhance productivity and stimulate broader economic activity.
“The group remains well-positioned to capitalise both local and regional emerging opportunities through driving financial innovation to create sustainable long-term value for all stakeholders,” Zembe added.
CBZ attributed its performance to improvements in digital platforms, enhanced disbursements, and a diverse product portfolio.
“The group continued to trade positively, delivering a strong financial performance for the year ended 31 December 2024. Profit after tax for the year stood at ZWG168,05 million (US$6,5 million), reflecting consistent value creation,” Zembe said.
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“This success was driven by our customer-centric approach, leveraging accessible digital platforms, enhanced disbursements, and a diverse product portfolio to meet the evolving financial needs of our clientele,” he said.
