Africazine:
FBC Holdings has successfully merged its building society operations into its commercial bank, marking a significant shift in Zimbabwe’s financial landscape.
The integration, effective from December 30, 2025, follows the approval from the Finance, Economic Development and Investment Promotion ministry. This merger means the FBC Building Society will cease to exist, with all its operations transferred to FBC Bank.
FBC Holdings Completes Merger of Banking Operations
FBC Holdings Limited announced the successful implementation of its merger between FBC Bank Limited and FBC Building Society. The integration is now operationally effective, ensuring a streamlined banking experience for customers. Tichaona Mabeza, the group company secretary, confirmed that the merger complies with the Banking Act and received all necessary regulatory approvals.
The merger’s approval was officially gazetted on December 12, 2025, paving the way for the cancellation of the FBC Building Society licence. This transition aims to enhance operational efficiency within the financial institution.
Zimbabwe: Key figures on FBC Holdings Merger
- Effective date: December 30, 2025
- Approval gazetted on: December 12, 2025
- FBC Building Society founded in: 1992
- FBC Building Society renamed in: 2005
- Former ownership stake: 60% by Francis Nhema’s family
- Stake acquired by FBC Holdings: 3.5%
Impact on Customers and Market Structure
All customers of the former building society will be integrated into FBC Bank, with assurances that their deposits and accounts remain safe and accessible. The merger does not alter the structure or financial stability of FBC Holdings, providing reassurance to stakeholders.
Following this merger, Zimbabwe will have only two remaining building societies: CABS, owned by Old Mutual, and the National Building Society, owned by the National Social Security Authority. This consolidation reflects a significant change in the banking landscape of Zimbabwe.
Next Steps for FBC Holdings
- Monitor integration of former building society customers into FBC Bank.
- Maintain communication with stakeholders regarding operational updates.
FBC Holdings' merger signifies a pivotal moment in Zimbabwe's banking sector.
