Nedbank Zimbabwe Limited, also Nedbank Zimbabwe, is a commercial bank in
Zimbabwe. It is licensed by the
Reserve Bank of Zimbabwe, the
central bank and national banking regulator.
The bank was previously known as MBCA Bank, prior to rebranding to its present name.
Location
The headquarters of the bank and its min branch are located on the 14th Floor of Old Mutual Centre, at the corner of Third Street and Jason Moyo Avenue, in
Harare, the capital and largest city in Zimbabwe.
The geographical coordinates of the bank's headquarters are: 17°49'46.0"S, 31°03'12.0"E (Latitude:-17.829444; Longitude:31.053333).
Overview
, the bank is a medium-sized financial services provider in
Zimbabwe, with an asset base of nearly ZWL19.956 Billion (historical terms)and ZWL20.007 Billion (Inflation adjusted terms), and shareholders' equity amounting to ZWL1 956 989 405 (historical) and ZWL1 957 136 131 (Inflation-adjusted).
The bank is a subsidiary of the
Nedbank Group
Nedbank Group is a financial services group in South Africa offering wholesale and retail banking services as well as insurance, asset management, and wealth management. Nedbank Limited is a wholly owned subsidiary of Nedbank Group.
Nedba ...
, an established financial services provider, headquartered in
Johannesburg,
South Africa, with total assets of almost ZAR1 188 005, as at June 2021.
History
The bank was founded in 1956 by Rhodesia Selection Trust (RST)
[Uneven Zimbabwe: A Study of Finance, Development, and Underdevelopment By Patrick Bond] as the Merchant Bank of Central Africa. Following the issuance of a commercial banking license by the
Reserve Bank of Zimbabwe, the national banking regulator, the bank rebranded to
MBCA Bank Limited
Nedbank Zimbabwe Limited, also Nedbank Zimbabwe, is a commercial bank in Zimbabwe. It is licensed by the Reserve Bank of Zimbabwe, the central bank and national banking regulator. The bank was previously known as MBCA Bank, prior to rebranding to ...
in 2004.
Significant to the development of Southern Rhodesia and to the failing Central African Federation is at much the same time RST's competitor Anglo-American joined with Lazard Brothers of London to found Rhodesian Acceptances Limited (RAL).
RAL, now known as RAL Merchant Bank (Zimbabwe) was part of Anglo-America until reorganisation/rationalisation, now in the Nedbank/Old Mutual Group.
Subsidiaries
The bank has 100% ownership in the following subsidiaries:
* Melbek Holdings (Private) Limited - Real estate investments -
Zimbabwe
* MBCA Nominees (Private) Limited - Nominee company -
Zimbabwe
* MBCA Leasing (Private) Limited - Leasing -
Zimbabwe
Ownership
According to the website of the Reserve Bank of Zimbabwe, the major shareholders in the
stock
In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company ...
of the bank include the following:
Branch network
Nedbank Zimbabwe maintains a network of branches at the following locations:
# Main Branch: 99 Jason Moyo Avenue,
Harare
# Southerton Branch: Shop 3, 11 Highfield Junction Road, Southerton,
Harare
# Borrowdale branch, Shop 112, Sam Levy's Village, Borrowdale, Harare
# JMN Branch: Merchant Bank Chambers, 74 Joshua Mqabuko Nkomo Street,
Bulawayo
# Belmont Branch, 61 Plumtree Road, Belmont, Bulawayo
# Gweru Branch, 55A Main Street, Gweru
# Mutare Branch: Windsor Msasa House, 75 Herbert Chitepo Street,
Mutare
Mutare (formerly Umtali) is the most populous city in the province of Manicaland, and the third most populous city in Zimbabwe, having surpassed Gweru in the 2012 census, with an urban area, urban population of 224,802 and approximately 260,567 ...
# Victoria Falls Branch: Shop 2, Sawanga Mall, Victoria Falls
# Zvishavane Branch: 100 Ireland Road,
Zvishavane.
See also
*
List of banks in Zimbabwe
This is a list of "Operating Banking Institutions" in Zimbabwe.
# Agricultural Development Bank of Zimbabwe
# BancABC Zimbabwe
# CABS
# CBZ Bank Limited
# First Capital Bank Limited
# Ecobank Zimbabwe Limited
# FBC Bank Limited
# Nedbank ...
*
Reserve Bank of Zimbabwe
*
Economy of Zimbabwe
The economy of Zimbabwe mainly relies on the tertiary sector of the economy, also known as the service sector of the economy, which makes up to 60% of total GDP as of 2017. Zimbabwe has the second biggest Informal economy in the world as a perc ...
References
External links
*
Website of Reserve Bank of Zimbabwe
{{Authority control
Banks established in 1956
Banks of Zimbabwe
1956 establishments in the Federation of Rhodesia and Nyasaland
Companies based in Harare