NMBZ Holdings Limited will seek shareholder approval for a share buyback programme of up to 10% of its issued shares through a special resolution at its 31st annual general meeting (AGM) scheduled for May 13.
The move forms part of the bank’s broader capital management strategy aimed at enhancing shareholder value, strengthening its balance sheet, and supporting long-term growth through efficient capital use on the Zimbabwe Stock Exchange (ZSE).
The proposed buyback programme will be executed through open-market transactions on the ZSE.
The development follows the recent release of the group’s annual financial report for the year ended December 31, 2025, in which NMBZ indicated it remains focused on growth, supported by projected stability in key macroeconomic indicators, including interest rates, exchange rates and inflation.
NMBZ also said it will continue leveraging strategic credit lines to support balance sheet growth and enhance its capacity to finance productive sectors of the economy.
The group increased its foreign credit lines last year to US$70 million, helping strengthen the balance sheet as total assets grew by 27% to ZiG9 billion from the previous year.
“To consider, and if deemed fit, to pass, with or without modification, the resolution set out below,” NMBZ said in a notice of its May 13 AGM.
“The company, being duly authorised thereto by Article 10 of its Articles of Association, may undertake general repurchases by way of open-market transactions on the Zimbabwe Stock Exchange of any of its own ordinary shares in such manner or on such terms as the directors may from time to time determine.”
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Under the share buyback scheme, the maximum number of shares authorised to be acquired is no more than 10% of the company’s ordinary issued share capital.
For each share, the minimum price shall not be lower than the nominal value of the company’s shares, and the maximum price that may be paid is 5% above the weighted average market price for the ordinary shares in the company, as derived from the Zimbabwe Stock Exchange daily price sheet for the five business days immediately preceding the purchase date.
The authority in terms of this special resolution shall, unless renewed before such time, expire on the first anniversary of the resolution or at the conclusion of the next AGM, whichever is later. However, the company may, before such expiry, enter into contracts to purchase its ordinary shares, which may be completed wholly or partly after expiry and may purchase its shares in pursuance of such contracts.
The group expects to continue leveraging its strategic credit lines to support balance sheet growth and expand lending to productive sectors.
It will also focus on operational efficiency and digital innovation to deliver faster, more accessible, and cost-effective financial services, while sustaining long-term value for stakeholders.
“With a strengthened foundation following our restructuring initiatives, we are positioned to pursue sustainable growth while safeguarding the interests of our customers, regulators and shareholders,” NMBZ chief executive officer Gerald Gore said in the group’s 2025 annual report.
