CBZ Seeks $600 Million in Victoria Falls Stock Exchange Bond Test

CBZ Holdings plans to raise and list a $600 million bond on the Victoria Falls Stock Exchange (VFEX), testing Zimbabwe's ability to develop a deeper debt market. The move would give CBZ, the country's largest financial institution, access to long-term US dollar funding while reducing its reliance on conventional banking facilities.

CBZ Group Chief Executive Mr Lawrence Nyazema said the group will initially raise $100 million, with $75 million already secured, before proceeding with the larger component of the initiative. The phased approach allows projects to commence while regulatory, structuring, and investor engagement processes are completed for the larger issuance.

CBZ aims to finance major infrastructure projects, particularly road rehabilitation, as well as participate in water, housing, property development, and other strategic investments. Analysts believe a successful bond programme would diversify CBZ's funding sources and give it access to longer-term capital matched with long-duration assets and infrastructure projects.