A US$10 million facility secured by listed Zimbabwe Stock Exchange firm, ZB Financial Holdings, and earmarked for the energy and export sectors is ready for disbursement with revelations emerging the financial concern is on the verge of concluding another deal for US$20 million with a regional financier.
Buoyed by its strong performance recorded for the financial period to 31 December 2017 which highlights a 36 percent profit after tax a jump from US$11.4 million in 2016 to US$15.5million in 2017, the financial concern is now focusing on consolidating this positive trend through various strategies which include expanding on their land banks as well as rapid growth in information communication technologies.
At a media and analysts briefing for the firm’s financial results for the period to 31 December 2017, the institution attributed this impressive increase to the strong performance of non-funded income which increased by US$6.2 million, from US$35.3 million to US$41.5 million for the period under review.
The firm’s group chief executive Mr Ron Mutandagayi indicated that they are nearing conclusion of a US$20 million facility with a regional financier, while the other US$10 million ready for disbursement.
“Investments in land banks have also provided the firm with an opportunity to build on our revenue inflows. One of our key projects in Ruwa’s Springvale is sold out. Focus is now on building on Beitbridge and Zvishavane,” said Mr Mutandagayi.
Given the open business policy that is driving the country’s economic resurgence, the financial concern is optimistic of building on the renewed appetite by foreign investors towards investing in Zimbabwe.