ZB's post US OFAC sanctions removal press release

8 November 2017

ZB Financial Holdings poised to grow after removal from OFAC Listing.

ZB Financial Holdings, a local financial services group has been removed from the OFAC listing. This was published in the Circular from the U.S Department of the Treasury dated October 4, 2016. The Financial services Group is excited to be off OFAC, on which it has been listed since 25 July 2008.

The implication of the removal which comes soon after the Group has won market accolades for its successful turnaround journey; is that the Group has become more competitive and poised to continue to grow. The market is advised that the Group will resume, and in some instances, offer new financial products and services that it could not undertake including;

  • Exports/imports 
  • Access to funding through letters of credit 
  • Money Transfer/remittances 
  • Pre and post shipment financing 
  • Visa/MasterCard 
  • DSTV 
  • Marketing of products and services to Diaspora and other such 

With this development the Group is poised to reclaim its rightful position as a major player within the financial services sector.

About ZB Financial Holding Limited - ZBFH or ZB

ZB has been in existence since 1951 and rebranded to ZB Financial Holdings in 2006, adopting a new monolithic brand. ZBFH is one of the largest and most diversified financial services groups in Zimbabwe offering a wide range of financial services spanning banking, investments, insurance, re-insurance, mortgage finance, transfer secretarial services and property development.

The group intends to increase its competitiveness by leveraging on this positive development to offer a broader range of financial products and services and holistic financial solutions to its customers. The Group also seeks to maintain its commitment to socially responsible and environmentally friendly business practices.

To learn more about ZB, please contact:
S K Chiganze, Head, Group Corporate Services
 

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