Nedbank Zimbabwe Limited, also Nedbank Zimbabwe, is a commercial bank in

Zimbabwe file:Zimbabwe, relief map.jpg, upright=1.22, Zimbabwe, relief map Zimbabwe, officially the Republic of Zimbabwe, is a landlocked country in Southeast Africa, between the Zambezi and Limpopo Rivers, bordered by South Africa to the south, Bots ...

. It is licensed by the

Reserve Bank of Zimbabwe The Reserve Bank of Zimbabwe ( RBZ) is the central bank of Zimbabwe and is headquartered in the country’s capital Harare. History The bank traces its history to the Reserve Bank of Rhodesia, founded on 22 May 1964, but which succeeded the Ba ...

, 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. 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 Harare ( ), formerly Salisbury, is the Capital city, capital and largest city of Zimbabwe. The city proper has an area of , a population of 1,849,600 as of the 2022 Zimbabwe census, 2022 census and an estimated 2,487,209 people in its metrop ...

, 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

, 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. Headquarter ...

, an established financial services provider, headquartered in

Johannesburg Johannesburg ( , , ; Zulu language, Zulu and Xhosa language, Xhosa: eGoli ) (colloquially known as Jozi, Joburg, Jo'burg or "The City of Gold") is the most populous city in South Africa. With 5,538,596 people in the City of Johannesburg alon ...

South Africa South Africa, officially the Republic of South Africa (RSA), is the Southern Africa, southernmost country in Africa. Its Provinces of South Africa, nine provinces are bounded to the south by of coastline that stretches along the Atlantic O ...

, 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

, the national banking regulator, the bank rebranded to MBCA Bank Limited 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 -

* MBCA Nominees (Private) Limited - Nominee company -

* MBCA Leasing (Private) Limited - Leasing -

Ownership

According to the website of the Reserve Bank of Zimbabwe, the major shareholders in the

stock Stocks (also capital stock, or sometimes interchangeably, shares) consist of all the Share (finance), shares by which ownership of a corporation or company is divided. A single share of the stock means fractional ownership of the corporatio ...

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,

# Southerton Branch: Shop 3, 11 Highfield Junction Road, Southerton,

# Borrowdale branch, Shop 112, Sam Levy's Village, Borrowdale, Harare # JMN Branch: Merchant Bank Chambers, 74 Joshua Mqabuko Nkomo Street,

Bulawayo 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 claimed it to be about ...

# 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 known as Umtali until 1982, is the capital and largest city in the province of Manicaland. It is the third most populated in Zimbabwe. Having surpassed Gweru in the 2012 census, with an urban area, urban population of 224,802 ...

# Victoria Falls Branch: Shop 2, Sawanga Mall, Victoria Falls # Zvishavane Branch: 100 Ireland Road,

Zvishavane Zvishavane, formerly known as Shabani, is a mining town in Midlands Province, Zimbabwe. Surrounded by low hills, it lies west of Masvingo, on the main Bulawayo-Masvingo road. Other roads lead from Zvishavane to Gweru, north, and Mberengwa, ...

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