ZB expands its services to Botswana

HE ZB Financial Holdings Limited ( ZB) has expanded its services to neighbouring Botswana as it seeks to grow its regional presence, it has been revealed.

Last month, the group announced that it had adopted a regional expansion strategy and successfully launched reinsurance operations in Botswana.

This comes as the local currency has become highly volatile, falling 38,3percent during the first quarter of the year leading to many businesses scrounging for foreign business to access foreign currency. At a dinner function last Saturday at the firm’s service centre in Belmont, Bulawayo, ZB group chief executive officer Shepherd Fungura revealed that they had expanded their service offerings. “When you come to ZB, our main lines of business are banking, insurance, and investment. Our offerings are conveniently merged into a one- stop shop approach, so we consummated the delivery of services and solutions and product to create convenience. So, we now have what we call service centres, previously called bank branches,” he said. On the move to Botswana, he said they had expanded beyond the horizons in Zimbabwe and had now touched the jurisdiction of Botswana.

“We now have an office there where we provide insurance and we are going to continue with our offerings in Botswana, because we believe that growing a business goes beyond borders, that’s our vision,” he said. As of the end of 2022, ZB had nearly $ 2,5 billion worth of foreign- denominated monetary assets and liabilities tied up in Botswana. NEWSDAY