Ecobank Zimbabwe Limited (EZL), 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 ...
in
Zimbabwe
Zimbabwe (), officially the Republic of Zimbabwe, is a landlocked country located in Southeast Africa, between the Zambezi and Limpopo Rivers, bordered by South Africa to the south, Botswana to the south-west, Zambia to the north, and ...
. It is one of the commercial banks licensed by the
Reserve Bank of Zimbabwe
The Reserve Bank of Zimbabwe is the central bank of Zimbabwe and is headquartered in the capital city Harare.
History
The bank traces its history to the Reserve Bank of Rhodesia, founded on 22 May 1964, but which succeeded the Bank of Rhodesia ...
and a subsidiary of
Togo
Togo (), officially the Togolese Republic (french: République togolaise), is a country in West Africa. It is bordered by Ghana to the west, Benin to the east and Burkina Faso to the north. It extends south to the Gulf of Guinea, where its c ...
-based
Ecobank
Ecobank, whose official name is Ecobank Transnational Inc. (ETI), is a pan-African banking conglomerate, with banking operations in 36 African countries. It is the leading independent regional banking group in West Africa and Central Africa, se ...
.
Ecobank Zimbabwe is a small financial services provider in Zimbabwe, serving large corporate clients, upscale retail customers and medium to large business enterprises. The company’s services include personal banking, business banking, global banking and agricultural finance. , the bank's shareholders' equity was estimated at US$42.8 million, and total assets were valued at US$120.2 million.
History
The bank was established in 2002 as ''Premier Finance Group'', a
merchant bank
A merchant bank is historically a bank dealing in commercial loans and investment. In modern British usage it is the same as an investment bank. Merchant banks were the first modern banks and evolved from medieval merchants who traded in commodi ...
.
In January 2011,
Ecobank Transnational
Ecobank, whose official name is Ecobank Transnational Inc. (ETI), is a pan-African banking conglomerate, with banking operations in 36 African countries. It is the leading independent regional banking group in West Africa and Central Africa, se ...
acquired majority shareholding in Premier Finance Group, at a price of US$10 million. Following the change in ownership, the institution rebranded to Ecobank Zimbabwe in May 2011. It also requested and was granted permission to change its merchant banking license to 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 ...
ing license. The
Reserve Bank of Zimbabwe
The Reserve Bank of Zimbabwe is the central bank of Zimbabwe and is headquartered in the capital city Harare.
History
The bank traces its history to the Reserve Bank of Rhodesia, founded on 22 May 1964, but which succeeded the Bank of Rhodesia ...
granted EBZ a commercial banking license, effective 15 May 2012.
Ownership
Ecobank Zimbabwe is a subsidiary of
Ecobank Transnational
Ecobank, whose official name is Ecobank Transnational Inc. (ETI), is a pan-African banking conglomerate, with banking operations in 36 African countries. It is the leading independent regional banking group in West Africa and Central Africa, se ...
, the Pan African bank with headquarters in
Lome, Togo and a presence in over 30 African countries. Other shareholders in the Zimbabwean subsidiary are shown in the table below:
Branch network
As of January 2012, the bank maintains a network of 15 operational branches, at the following locations:
# Head Office - 2 Piers Road,
Harare
Harare (; formerly Salisbury ) is the capital and most populous city of Zimbabwe. The city proper has an area of 940 km2 (371 mi2) and a population of 2.12 million in the 2012 census and an estimated 3.12 million in its metropolitan ...
# Borrowdale Branch - Block A, Sam Levy’s Office Park, 2 Piers Road,
Borrowdale
Borrowdale is a valley and civil parish in the English Lake District in the Borough of Allerdale in Cumbria, England. It lies within the historic county boundaries of Cumberland. It is sometimes referred to as ''Cumberland Borrowdale'' ...
,
Harare
Harare (; formerly Salisbury ) is the capital and most populous city of Zimbabwe. The city proper has an area of 940 km2 (371 mi2) and a population of 2.12 million in the 2012 census and an estimated 3.12 million in its metropolitan ...
# Bradfield Branch - Stand 16433, Shops 3&4, Zonkizizwe Shopping Centre, Hillside Road,
Bradfield,
Bulawayo
Bulawayo (, ; Ndebele: ''Bulawayo'') is the second largest city in Zimbabwe, and the largest city in the country's Matabeleland region. The city's population is disputed; the 2022 census listed it at 665,940, while the Bulawayo City Council ...
# Chiredzi Branch - Stand 360, Mopani Drive,
Chiredzi
Chiredzi is a town in Masvingo province in south-east Zimbabwe. It is located near the Runde River, which has a tributary called the ' Chiredzi'. As the administrative center for Chiredzi District, it is where both the rural and district counc ...
# Joina City Branch - Shop U14, Innez Terrace at Jason Moyo Avenue,
Harare
Harare (; formerly Salisbury ) is the capital and most populous city of Zimbabwe. The city proper has an area of 940 km2 (371 mi2) and a population of 2.12 million in the 2012 census and an estimated 3.12 million in its metropolitan ...
# Mbare Branch - Shops 1&2, Stand 29629, Farmer's Market,
Mbare,
Harare
Harare (; formerly Salisbury ) is the capital and most populous city of Zimbabwe. The city proper has an area of 940 km2 (371 mi2) and a population of 2.12 million in the 2012 census and an estimated 3.12 million in its metropolitan ...
# Nelson Mandela Branch - 35 Nelson Mandela Avenue,
Harare
Harare (; formerly Salisbury ) is the capital and most populous city of Zimbabwe. The city proper has an area of 940 km2 (371 mi2) and a population of 2.12 million in the 2012 census and an estimated 3.12 million in its metropolitan ...
# Parkade Centre Branch - 5 Parkade Centre, Fife Street at 9th Avenue,
Bulawayo
Bulawayo (, ; Ndebele: ''Bulawayo'') is the second largest city in Zimbabwe, and the largest city in the country's Matabeleland region. The city's population is disputed; the 2022 census listed it at 665,940, while the Bulawayo City Council ...
# Samora Machel Branch - 137 Samora Machel Avenue,
Harare
Harare (; formerly Salisbury ) is the capital and most populous city of Zimbabwe. The city proper has an area of 940 km2 (371 mi2) and a population of 2.12 million in the 2012 census and an estimated 3.12 million in its metropolitan ...
# Chitungwiza Branch -
Chitungwiza
Chitungwiza is an urban centre and town of Harare Province in Zimbabwe.
History
As of the 2022 census, Chitungwiza had a population of 371,244.
There are two main highways which connect the city to Harare namely Seke road and Chitungwiza ...
# Mutare Branch - 2A Fidelity Centre, 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 population of 224,802 and approximately 260,567 in the surr ...
# Msasa Branch -
Msasa
''Brachystegia spiciformis'', commonly known as zebrawood, or msasa, is a medium-sized African tree having compound leaves and racemes of small fragrant green flowers. The tree is broad and has a distinctive amber and wine red colour when the y ...
,
Harare
Harare (; formerly Salisbury ) is the capital and most populous city of Zimbabwe. The city proper has an area of 940 km2 (371 mi2) and a population of 2.12 million in the 2012 census and an estimated 3.12 million in its metropolitan ...
# Graniteside Branch -
Graniteside,
Harare
Harare (; formerly Salisbury ) is the capital and most populous city of Zimbabwe. The city proper has an area of 940 km2 (371 mi2) and a population of 2.12 million in the 2012 census and an estimated 3.12 million in its metropolitan ...
# Kweke Branch - Beverly house Robert Mugabe way Kwekwe
# Bindura Branch - Robert Mugabe way
See also
*
Ecobank
Ecobank, whose official name is Ecobank Transnational Inc. (ETI), is a pan-African banking conglomerate, with banking operations in 36 African countries. It is the leading independent regional banking group in West Africa and Central Africa, se ...
*
Ecobank Ghana
Ecobank Ghana is a commercial bank in Ghana. It is one of the commercial banks licensed by the Bank of Ghana, the national banking regulator.
Overview
EBG is a member of the Pan-African Ecobank chain which operates in thirty two (32) countries. T ...
*
Ecobank Nigeria
Ecobank Nigeria Limited, commonly referred to as Ecobank Nigeria, is a commercial bank in Nigeria. It is one of the commercial banks licensed by the Central Bank of Nigeria, the national banking regulator.
Overview
The bank began operations in 1 ...
*
Ecobank Uganda
Ecobank Uganda is a bank in Uganda that operates as a commercial bank under a license granted by the Bank of Uganda, the central bank and national banking regulator.
Location
The headquarters of Ecobank Uganda are located at Plot 8A, Kafu Road, ...
*
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 Zimbabwe Limited, First Capital Bank Limited
# Ecobank, Ecobank Zimbab ...
*
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 perce ...
References
{{reflist
External links
Website of Ecobank Zimbabwe
Banks of Zimbabwe
Banks established in 2002
2002 establishments in Zimbabwe
Companies based in Harare