Cavmont Bank Limited is a

commercial bank A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit. It can also refer to a bank, or a division of a large bank, which deals with co ...

Zambia Zambia (), officially the Republic of Zambia, is a landlocked country at the crossroads of Central, Southern and East Africa, although it is typically referred to as being in Southern Africa at its most central point. Its neighbours are t ...

. It is licensed by the

Bank of Zambia The Bank of Zambia (BoZ), is the central bank of Zambia. Overview The principal responsibility of the bank is to create and implement monetary policy that will maintain the economic stability of the country. The Bank is active in promoting financ ...

, the

central bank A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central b ...

and national banking regulator.

Location

The headquarters and main branch of Cavmont Bank Limited are located at 2374 Thabo Mbeki Road, in the city of Lusaka, the capital and largest city in Zambia. The geographical coordinates of the headquarters of the bank are: 15°24'06.0"S, 28°19'20.0"E (Latitude:-15.401667; Longitude:28.322222).

Overview

CBL provides an array of banking services including in the areas of community banking, retail banking, investment, and corporate banking. , the bank was a retail bank with total assets valued at ZMW:946.8 million (US$96.7 million), with shareholders' equity of ZMW:118.1 million (US$12.1 million). At that time the bank employed a total of 245 people. By December 2016, the bank's total assets had increased to ZMW:1,063,735,000.00 (US$108.64 million).

History

The Bank was established on 1 January 2004, following a merger between Cavmont Merchant Bank Limited (incorporated in October 1992), and New Capital Bank Plc., (incorporated in June 1992). In 2006 the Bank's holding company, ''Cavmont Capital Holdings Zambia Plc (CCHZ), sought a strategic investment partner and identified ''Capricorn Investment Holdings Limited (CIH)''. CIH acquired a 44.2% shareholding in CCHZ in 2007. Discussions held with the Bank of Zambia to find an acceptable manner to recapitalize Cavmont Bank through a rights issue by CCHZ were concluded successfully, with CIH underwriting the rights issue. Consequently, CCHZ raised additional share capital of more than K15.4 billion in 2007 and the re-positioning of Cavmont Bank commenced. The Bank of Zambia revised capitalization requirements for local Banks and foreign Banks and it is in light of this that the holding company has warehoused 51% shares in Makumbi Investments Limited a special purpose vehicle earmarked for forward offer to local investors. As of 31 December 2013, the Bank has met the equity shareholding and capital requirements for local banks.

Ownership

Cavmont Bank Limited is a 100 percent subsidiary of Cavmont Capital Holdings Zambia Plc. (CCHZ). The investors in CCHZ, and therefore in CBL, include Capricorn Investment Holdings (CIH), a financial conglomerate with investment interests in three

Southern African Southern Africa is the southernmost subregion of the African continent, south of the Congo and Tanzania. The physical location is the large part of Africa to the south of the extensive Congo River basin. Southern Africa is home to a number of ...

countries:

Botswana Botswana (, ), officially the Republic of Botswana ( tn, Lefatshe la Botswana, label= Setswana, ), is a landlocked country in Southern Africa. Botswana is topographically flat, with approximately 70 percent of its territory being the Kalaha ...

Namibia Namibia (, ), officially the Republic of Namibia, is a country in Southern Africa. Its western border is the Atlantic Ocean. It shares land borders with Zambia and Angola to the north, Botswana to the east and South Africa to the south and ea ...

and

. CIH owns controlling interests in

Bank Gaborone Bank Gaborone, formally Bank Gaborone Limited, is a commercial bank in Botswana. , the bank had 5 branches and over 30 automated teller machines around the country. History The Bank of Botswana issued a license to Bank Gaborone Limited to commen ...

in Botswana and Bank Windhoek in Namibia, in addition to its minority shareholding in Cavmont Capital Holdings Zambia Plc. The stock of the holding company, CCHZ, is Listed on the

Lusaka Stock Exchange The Lusaka Stock Exchange (abbreviated to LuSE) is the principal stock exchange of Zambia. Founded in 1993, it is located in Lusaka. The LuSE is a member of the African Stock Exchanges Association. As of 14 April 2022, the LuSE has 25 listed compa ...

(LUSE), where it trades under the symbol: CCHZ. The shareholding in CCHZ and therefore in CBL is depicted in the table below:

Branch Network

As of May 2018, Cavmont Bank maintained a network of branches at the locations: # Head Office: Cavmont House, Piziya Office Park, 2374 Thabo Mbeki Road, Lusaka # Makumbi Commercial Branch: Cavmont House, Piziya Office Park, 2374 Thabo Mbeki Road, Lusaka # Lusaka Square Branch: Anchor House, Sapele Road, Lusaka # Tazara Branch: Ground Floor, Tazara House, Corner of Dedan Kimathi Road and Independence Avenue, Lusaka # Kalingalinga Branch: B4/29/146, Kamloops Road, Lusaka # Garden Branch: 39 Katima Mulilo Road, Lusaka # Industrial Branch: Blessing Center, Corner of Vubu Road and Lumumba Road, Emmasdale, Lusaka # Mansa Branch: Corner of President Road and Chitimukulu Road,

Mansa Mansa may refer to: Places In India * Mansa, Gujarat, a town in northern Gujarat, Western India; the capital of: ** Mansa, Gujarat Assembly constituency ** Mansa State, a princely state under the Mahi Kantha Agency in India * Mansa district, ...

# Mwense Branch: Office No 5, Community Development Block, Mwense # Chipata Branch: 4769 Lunkhwakwa Road, Chipata # Ndola Branch: 93 Z-Mart Mall, Shop No 7, President Avenue,

Ndola Ndola is the third largest city in Zambia and third in terms of size and population, with a population of 475,194 (''2010 census provisional''), after the capital, Lusaka, and Kitwe, and the second largest in terms of infrastructure development aft ...

# Kitwe Branch: 33 Ebenezer Centre, Independence Ave, Kitwe # Kitwe Agency: 1306 Chibuluma Road, Industrial Area, Kitwe # Chingola Branch: ZRA Building, 11 Kitwe Road,

Chingola Chingola is a city in Zambia's Copperbelt Province, the country's copper-mining region, with a population of 216,626 (2010 census). It is the home of Nchanga Copper Mine, a deep-shaft high-grade content copper mining operation, which subsequent ...

# Chililabombwe Branch: 151 Buntungwa Road, Industrial Area,

Chililabombwe Chililabombwe (formerly named Bancroft) is a small town in Copperbelt Province, Zambia. It is located near the Democratic Republic of the Congo border. The name Chililabombwe means 'place of the croaking frog' in the local language of Lamba. The ...

# Mbala Branch: Independence Avenue, Mbala # Mpulungu Branch: Harbour Road, Mpulungu # Kasama Branch: Shoprite Centre, Independence Road, Kasama # Solwezi Branch:

Solwezi Solwezi is a town in Zambia. It is the provincial capital of the mineral-rich North-Western Province. Solwezi is also the administrative capital of Solwezi District, one of the eleven districts in the North-Western Province. Location Solwezi ...

# Mufumbwe Branch: 1 Main Street, Mufumbwe.

The Capricorn Group

Cavmont_Bank_is_a_member_of_the_Capricorn_Group_of_Companies_under_the_umbrella_of_the_parent_company_Capricorn_Investment_Holdings,_a_Namibia_ Namibia_(,_),_officially_the_Republic_of_Namibia,_is_a_country_in_Southern_Africa._Its_western_border_is_the_Atlantic_Ocean._It_shares_land_borders_with_Zambia_and_Angola_to_the_north,_Botswana_to_the_east_and_South_Africa_to_the_south_and_ea_...

Location

Overview

History

Ownership

Branch Network

The Capricorn Group

Governance

See also

References

External links