Pride Mzarabani
HARARE – FBC Holdings is set to diversify its business model, focusing on the diaspora market, targeting housing and real estate investments and insurance.
In response to the challenging and evolving operating environment, which has impacted the revenue performance of some of its traditional products, the group is now exploring alternative initiatives to drive growth.
The group will also target foreign investors focusing on key economic sectors, including agriculture, mining, and tourism. Through the company’s operations in Botswana, the group will include regional reinsurance business in its portfolio.
The business is also improving its financial services offerings with a focus on product and service diversification, aimed at improving customer experience and convenience. The initiative includes the launch of new premium mastercard products with exclusive benefits, digital lending and on boarding, enhanced product features on its internet banking platform.
Additionally, the bank has introduced deposit-taking ATMs in selected locations and is prioritizing green financing through sustainability and climate risk initiatives. These developments are expected to drive customer retention, business growth, and increased product consumption.
Priscilla Sadomba, Head of Investor Relations and Communications for FBC Group, said as they pursue growth opportunities, the risk appetite statements guide the business on the level of risk to assume, taking into account the operating environment.
“The group has a risk management framework, encompassing risk appetite guidelines. This framework is reviewed from time to time, in line with macroeconomic conditions,” she said.
Sadomba noted that the group is investing in innovation technology with system upgrades which include inbuilt AI and infrastructure investments to increase scale and capacity to accommodate the group’s widening operations.
“The investment is sizeable, and the process is actually ongoing. We are taking a phased approach.”
For the first quarter ending 31 March 2025, FBC Holdings Limited’s financial performance was robust, with a total income of ZWG 578 million and a profit before tax of ZWG 94.5 million. The company’s strategic pivot towards fee-based revenue paid off, reducing exposure to currency and interest rate volatility. Net interest income remained strong at ZWG 321 million, highlighting the continued strength of core trading activities.
The company’s total assets stood at ZWG 19.9 billion, underpinned by a strong loan portfolio of ZWG 9.56 billion. Shareholders’ equity closed at ZWG 5.7 billion, reflecting the group’s ongoing focus on safeguarding and growing long-term shareholder value.
