Girish Mahajan

Cavmont Bank

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Industry  Financial Services
Headquarters  Lusaka
Number of employees  245 (2016 - Q2)
Website  Homepage
Founded  2004
Type  Public company
Cavmont Bank wwwcavmontcomzmfileadminimagesLOGOpng
Key people  Guy Phiri Chairman Charles B Carey Chief Executive Officer Chilunga Puta-Dunham Head Communications and Customer Services
Products  Loans, Checking, Savings, Foreign & Local Currency Investments, Debit Cards, Online Banking & ePayments, ATMs
Revenue  Aftertax: US$2.57+ million (ZMK:12.84 billion) (2011)
Total assets  K946.843 million (2016)
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Cavmont Bank Limited is a registered commercial bank in Zambia. It is one of the commercial banks in the country, licensed by the Bank of Zambia, the national banking regulator.

Contents

Overview

CBL provides an array of banking services including in the areas of community banking, retail banking, investment,and corporate banking. As of June 2016, the bank was a retail bank with total assets valued at K946.8 million, with a total equity of K118.1 million. The bank employs a total of 245 professionals as of Q2 - 2016.

History

Cavmont Bank Ltd (CBL) is a Registered Commercial bank in Zambia with more than 50,000 clients and 247 employees. The Bank was established on 1 January 2004, following a merger between Cavmont Merchant Bank Ltd, (inc. October 1992), and New Capital Bank Plc., (inc. June 1992). In 2006 the Bank's holding company, Cavmont Capital Holdings Zambia Plc (CCHZ), sought a strategic investment partner and identified Capricorn Investment Holdings Limited (CIH). CIH acquired a 44.2% shareholding in CCHZ in 2007.

Discussions held with the Bank of Zambia to find an acceptable manner to recapitalize Cavmont Bank through a rights issue by CCHZ were concluded successfully, with CIH underwriting the rights issue. Consequently, CCHZ raised additional share capital of more than K15.4 billion in 2007 and the repositioning of Cavmont Bank commenced.

Cavmont Bank Limited shareholders support a capital plan for a local bank. Cavmont Bank is a fully capitalised Zambian financial services institution with 19 branches nationwide and over 22 years of banking experience, whose shareholders fully support its capital plan.

The Bank of Zambia revised capitalisation requirements for local Banks and foreign Banks and it is in light of this that the holding company has warehoused 51% shares in Makumbi Investments Limited a special purpose vehicle earmarked for forward offer to local investors. As of 31 December 2013, the Bank has met the equity shareholding and capital requirements for local banks.

Ownership

CBL is a 100% subsidiary of Cavmont Capital Holdings Zambia Plc. (CCHZ). The investors in CCHZ, and therefore in CBL, include Capricorn Investment Holdings (CIH), a financial conglomerate with investment interests in three Southern African countries: Botswana, Namibia and Zambia. CIH owns controlling interests in Bank Gaborone in Botswana and Bank Windhoek in Namibia, in addition to its minority shareholding in Cavmont Capital Holdings Zambia Plc. The stock of the holding company, CCHZ, is Listed on the Lusaka Stock Exchange (LuSE), where it trades under the symbol: CCHZ. The shareholding in CCHZ and therefore in CBL is depicted in the table below:

Branch Network

As of January 2014, Cavmont Bank maintains a network of eighteen branches at the following locations:

Lusaka Branches
  1. Head Office - 2374 Piziya Office Park, Thabo Mbeki Road, Lusaka
  2. Garden Branch - 39 Katima Mulilo Road, Lusaka
  3. Lusaka Square Branch - Anchor House, Sapele Road, Lusaka
  4. Kalingalinga Branch - B4/29/146 Kamloops Road, Lusaka
  5. Tazara House Branch - Ground Floor, Tazara House, Independence Avenue At Dedan Kimathi Street, Lusaka
  6. Makumbi Commercial Branch - Piziya Office Park, Thabo Mbeki Road, Lusaka
Eastern Province Branches
  1. Chipata Branch - 4769 Lunkwakwa Road, Chipata
  2. Mansa Branch - 335 President Road at Chitimukulu Road, Mansa
  3. Mwense Branch - Office Number 5, Community Development Block, Mwense
Northern Province
  1. Kasama Branch - Shoprite Centre, Independence Road, Kasama
  2. Mbala Branch - Independence Avenue, P.O. Box 420138 Mbala
  3. Mpulungu Branch - Harbour Road, Mpulungu
Copperbelt Province
  1. Ndola Branch - Shop Number 7, 93 Z-Mart Mall, President Avenue, Ndola
  2. Kitwe Branch - 33 Ebenezer Center, Kitwe
  3. Kitwe Agency - 1306 Chibuluma Road, Industrial Area, Kitwe
  4. Chingola Branch - ZRA Building, 11 Kitwe Road, Chingola
  5. Chililabombwe - 151 Buntungwa Road, Industrial Area, Chililabombwe
North-Western Province
  1. Solwezi Branch - Chingola-Solwezi Road, Solwezi
  2. Mufumbwe Branch - 1 Mutanda-Chavuma Road, Mufumbwe

The Capricorn Group

Cavmont Bank is a member of the Capricorn Group of Companies under the umbrella of the parent company Capricorn Investment Holdings, a Namibia-based investment conglomerate. The Group has investment interests in southern Africa, as outlined in the graphic below:

  • Zambia
  • Cavmont Capital Holdings Zambia Plc. - 44.5% Shareholding
  • Cavmont Bank - 44.5% Shareholding
  • Namibia
  • Bank Windhoek Holdings Limited - 73% Shareholding
  • Bank Windhoek Limited - 73% Shareholding
  • BW finance Limited - 73% Shareholding
  • Welwitschia Nammic Insurance Brokers Limited - 56.7% Shareholding
  • Namib Bou Limited - 73% Shareholding
  • Santam Namibia Limited - 18.3%Shareholding
  • Sanlam Namibia Holdings Limited - 21.5% Shareholding
  • Nammic Financial Services Holdings - 100% Shareholding
  • GH Group Employee Share Trust - 16.4% Shareholding
  • Botswana
  • Capricorn Investment Holdings (Botswana) Limited - 94.9% Shareholding
  • Bank Gaborone Limited - 94.9% Shareholding
  • Ellwood Insurance Brokers limited - 94.9% Shareholding
  • SmartSwitch Botswana Limited - 47.5% Shareholding
  • Capricorn Asset Management Limited - 75.2% Shareholding
  • Capricorn Capital Limited - 100% Shareholding
  • Cyan ES Limited - 100% Shareholding
  • Governance

    There are six members on the Board of Directors of Cavmont Bank:

    1. Guy D.Z. Phiri - Chairman
    2. Thinus Prinsool - Vice Chairman
    3. Chitupa Muzariri - Director
    4. Johan Swanepoel - Director
    5. Joseph Ngosa - Director
    6. Charles H de B Carey - Managing Director

    References

    Cavmont Bank Wikipedia


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