Ecobank Zimbabwe


Ecobank Zimbabwe Limited, is a commercial bank in Zimbabwe. It is one of the commercial banks licensed by the Reserve Bank of Zimbabwe and a subsidiary of Togo-based Ecobank.
Ecobank Zimbabwe is a small financial services provider in Zimbabwe, serving large corporate clients, upscale retail customers and medium to large business enterprises. The company’s services include personal banking, business banking, global banking and agricultural finance., the bank's shareholders' equity was estimated at US$42.8 million, and total assets were valued at US$120.2 million.
WWW ecobank.com/countryinfo.a...

History

The bank was established in 2002 as Premier Finance Group, a merchant bank.
In January 2011, Ecobank Transnational acquired majority shareholding in Premier Finance Group, at a price of US$10 million. Following the change in ownership, the institution rebranded to Ecobank Zimbabwe in May 2011. It also requested and was granted permission to change its merchant banking license to a commercial banking license. The Reserve Bank of Zimbabwe granted EBZ a commercial banking license, effective 15 May 2012.

Ownership

Ecobank Zimbabwe is a subsidiary of Ecobank Transnational, the Pan African bank with headquarters in Lome, Togo and a presence in over 30 African countries. Other shareholders in the Zimbabwean subsidiary are shown in the table below:
RankName of OwnerPercentage Ownership
1Ecobank Transnational62.00
2Consortium of Zimbabwean Investors38.00
Total100.00

Branch network

As of June 2024, the bank maintains a network of 12 operational branches, at the following locations:
  1. Mutare Branch - 2A Fidelity Centre, Herbert Chitepo Street, Mutare
  2. Borrowdale Branch & Head Office - Block A, Sam Levy’s Office Park, 2 Piers Road, Borrowdale, Harare
  3. Samora Machel Branch - 137 Samora Machel Avenue, Harare
  4. Msasa Branch - Shop 3, The Collonade, 70 Mutare Road, Msasa, Harare
  5. Southerton Branch - Highfield Junction, Corner Paisley Rd/Highfield Rd, Southerton, Harare
  6. Graniteside Branch - 106 Seke Road Graniteside, Harare
  7. Nelson Mandela Branch - 35 Nelson Mandela Avenue, Harare
  8. Bindura Branch - 57 Robert Mugabe Street, Mutare
  9. Kwekwe Branch - Beverly House, Groundfloor, Robert Mugabe way, Kwekwe
  10. Gweru Branch - 6th Street, Gweru
  11. Bradfield Branch - Stand 16433, Shops 3&4, Zonkizizwe Shopping Centre, Hillside Road, Bradfield, Bulawayo
  12. Parkade Centre Branch - 5 Parkade Centre, Fife Street at 9th Avenue, Bulawayo