Cavmont Bank Limited is a

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

Zambia Zambia, officially the Republic of Zambia, is a landlocked country at the crossroads of Central Africa, Central, Southern Africa, Southern and East Africa. It is typically referred to being in South-Central Africa or Southern Africa. It is bor ...

. 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, national bank, or monetary authority is an institution that manages the monetary policy of a country or monetary union. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the mo ...

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 Lusaka ( ) is the Capital city, capital and largest city of Zambia. It is one of the fastest-developing cities in southern Africa. Lusaka is in the southern part of the central plateau at an elevation of about . , the city's population was abo ...

, the

capital Capital and its variations may refer to: Common uses * Capital city, a municipality of primary status ** Capital region, a metropolitan region containing the capital ** List of national capitals * Capital letter, an upper-case letter Econom ...

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 Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking (corporate ba ...

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 region of Africa. No definition is agreed upon, but some groupings include the United Nations geoscheme, the intergovernmental Southern African Development Community, and the physical geography definition b ...

countries:

Botswana Botswana, officially the Republic of Botswana, is a landlocked country in Southern Africa. Botswana is topographically flat, with approximately 70 percent of its territory part of the Kalahari Desert. It is bordered by South Africa to the sou ...

Namibia Namibia, officially the Republic of Namibia, is a country on the west coast of Southern Africa. Its borders include the Atlantic Ocean to the west, Angola and Zambia to the north, Botswana to the east and South Africa to the south; in the no ...

and

. CIH owns controlling interests in

Bank Gaborone Bank Gaborone Limited (Bank Gaborone) is a commercial bank in Botswana. It is a subsidiary of the Capricorn Group. , the bank had 5 branches and over 30 ATMs throughout the country. History The Bank of Botswana issued a license to Bank Gaboro ...

in Botswana and

Bank Windhoek Bank Windhoek Limited (Bank Windhoek) is a commercial bank in Namibia, which is licensed by the Bank of Namibia (BoN) to operate in the country. It provides financial services to its clients, which include personal, commercial and Small and Mediu ...

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 Securities Exchange (abbreviated to LuSE) is the principal stock exchange of Zambia and Zambia's designated agency for issuing International Securities Identification Number, International Securities Identification Numbers (ISIN). Founde ...

(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,

# 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'' is a scale used to assess quality of life. Its name is short for ''Manchester, Short Assessment of Quality of Life''. It was developed by Priebe et al. References Notes References Further reading * * External links * {{Latin ...

# Mwense Branch: Office No 5, Community Development Block, Mwense # Chipata Branch: 4769 Lunkhwakwa Road,

Chipata Chipata is a city and administrative centre of the Eastern Province of Zambia and Chipata District. It was declared the 5th city of the country, after Lusaka, Ndola, Kitwe and Livingstone, by President Edgar Lungu on 24 February 2017. The cit ...

# Ndola Branch: 93 Z-Mart Mall, Shop No 7, President Avenue,

Ndola Ndola is the third largest city in Zambia in terms of size and population, with a population of 627,503 (''2022 census''), after the capital, Lusaka, and Kitwe, and the second largest in terms of infrastructure development after Lusaka. It is the I ...

# Kitwe Branch: 33 Ebenezer Centre, Independence Ave,

Kitwe Kitwe is the third largest city in terms of infrastructure development (after Lusaka and Ndola) and second largest city in terms of size and population (after Lusaka) in Zambia. With a population of 517,543 (''2010 census provisional'') Kitwe is ...

# Kitwe Agency: 1306 Chibuluma Road, Industrial Area, Kitwe # Chingola Branch: ZRA Building, 11 Kitwe Road,

Chingola Chingola is a town in Zambia's Copperbelt Province, the country's copper-mining region, with a population of 256,560 (2022 census). It is the home of Nchanga Copper Mine, a deep-shaft high-grade content copper mining operation, which subsequen ...

# 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 Mpulungu is a town in the Northern Province of Zambia, at the southern tip of Lake Tanganyika.Camerapix: "Spectrum Guide to Zambia." Camerapix International Publishing, Nairobi, 1996. From Mpulungu, boats reach DR Congo, Tanzania and Burundi. Th ...

# 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. Geography Locati ...

# 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

-based investment conglomerate. The Group has investment interests in southern Africa, as outlined in the graphic below: * Zambia :* Cavmont Capital Holdings Zambia Plc. - 44.5% Shareholding :* Cavmont Bank Limited - 44.5% Shareholding * Namibia :* Bank Windhoek Holdings Limited - 73% Shareholding :* Bank Windhoek Limited - 73% Shareholding :* BW Finance Limited - 73% Shareholding :* Welwitschia Nammic Insurance Brokers Limited - 56.7% Shareholding :* Namib BOU Limited - 73% Shareholding :* Santam Namibia Limited - 18.3%Shareholding :* Sanlam Namibia Holdings Limited - 21.5% Shareholding :* Nammic Financial Services Holdings - 100% Shareholding :* GH Group Employee Share Trust - 16.4% Shareholding * Botswana :* Capricorn Investment Holdings Botswana Limited - 94.9% Shareholding :* Bank Gaborone">Bank Gaborone Limited - 94.9% Shareholding :* Ellwood Insurance Brokers limited - 94.9% Shareholding :* SmartSwitch Botswana Limited - 47.5% Shareholding :* Capricorn Asset Management Limited - 75.2% Shareholding :* Capricorn Capital Limited - 100% Shareholding :* Cyan ES Limited - 100% Shareholding

Governance

There are six members on the Board of Directors of Cavmont Bank: # Guy D.Z. Phiri - Chairman # Thinus Prinsool - Vice Chairman # Chitupa Muzariri - Director # Johan Swanepoel - Director # Joseph Ngosa - Director # Charles H de B Carey - Managing Director.

References

{{reflist

External links

Capricorn Investment Holdings Acquires 44.5% Stake In Cavmont Capital Holdings Limited
Banks of Zambia Companies based in Lusaka Banks established in 2004 2004 establishments in Zambia