BRIDGET MABANDA
HARARE – The Reserve Bank of Zimbabwe (RBZ) has said it is looking forward to increased flow of foreign investments in the country through structures that First Capital Bank will be managing.
Speaking at the First Capital Bank new head office ground breaking ceremony, Acting Reserve Bank Governor, Dr Jesimen Chipika, who was their guest of honour said the investment in the head office building does not only preserve the capital of the bank but also creates brand equity – which will aid in the attraction of foreign investments and business.
“It is our hope that this development will attract more business for First Capital Bank Limited in the local and international space and enable the financial institution to participate in big-ticket transactions that are relevant to the economy,” she said.
She added that First Capital Bank’s building design and architecture symbolize modernity while it conforms to climate smart and energy efficient requirements as the institution continues to meet the expanding business needs.
Chipika said banking institutions are the bedrock of the financial sector as they play a critical intermediary role in the economy.
“Through their intermediary role, banking institutions have the power to redirect capital to accelerate the pace and scale of positive change in our economy,” she said.
The Acting Governor said First Capital Bank’s initiative supports efforts towards achieving Zimbabwe’s vision of becoming an upper-middle income economy by 2030 and is aligned to the National Development Strategy 1 (NDS1)(2021-2025).
Tapera Mushoriwa, the newly appointed Chief Executive Officer of First Capital Bank Limited said the building will be a five star green rated building.
“We are excited at the new potential that our new head office will unlock for us. This modern and environmentally friendly building also presents an opportunity to provide a world class working environment for our staff who are instrumental in driving the business,” he said.
Shoriwa said the bank is firmly digging its roots in Zimbabwe and has confidence in its economic potential.
First Capital Bank, Zimbabwe, Chairman, Mr Patrick Devenish said, “The Zimbabwe business is an integral contributor to our group bottom-line. We believe in the nation’s potential and prospects which are anchored by the vast resources, human capacity, and expertise. This belief has culminated to our investment being witnessed here today. We will continue to leverage on opportunities to collaborate and participate in key developmental projects that are important to the economy.”
First Capital Bank was the first banking institution to list on the Victoria Falls Stock Exchange.
First Capital Bank Zimbabwe is a part of FMB capital Holdings PLC, which has banking operations in Botswana, Malawi, Mozambique, Zambia, and Zimbabwe.
