Business - Companies & Markets - Featured - Finance - Local - November 10, 2020

CBZ’s third quarter business volumes improved significantly amid Covid-19 pandemic

By Felton Zvoushe

HARARE – CBZ Holdings, the country’s biggest financial service group, says it operated profitably during the third quarter ending 30 September 2020 and managed to strengthen its revenue-generating capacity amid the effects of coronavirus.

The group’s subsidiaries were in full compliance with their regulatory minimum capital requirement except for Redsphere Finance Pvt Limited which is in the process of being capitalized.

Directors have engaged themselves, it said, to continuously assess the ability of the group to continue to operate as a going concern in light of the Covid-19 pandemic.

“Despite the foregoing, the Group has assessed that the pandemic will not have an inhibiting impact on its ability to continue operating as a going concern since the business volumes have significantly improved,” the group said in a trading update.

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