Listed on the Zimbabwe and London Stock Exchange, The National Merchant Bank of Zimbabwe (NMBZ) owns the bank NMB.
What factors have contributed to NMBZ’s positive performance?
Since it opened its doors in 1992, NMB has prided itself on innovation. In the first six months of this year, it registered after-tax profits of $3.17 million, an increase of 128 percent. This is due to opting for a more sustainable business model, as we shifted to mass banking last year. We began as an investment bank but moved to commercial banking.
Have you considered exploring opportunities from the East?
Yes. We are very pleased that China has given support to Zimbabwe’s government. There is now a need for Chinese investors to support Zimbabwe’s private sector through credit lines.
What are your strategies for continued growth?
My vision is for NMB to be a well-capitalized bank, with a minimum of $100 million in the next 5 years. NMB is a safe bet when it comes to lending money to Zimbabwean banks.