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Cavmont Bank Limited Report and Financial Statements for the Year Ended 30 June 2014
CAVMONT BANK LIMITED REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2014 Cavmont Bank Limited Report and Financial Statements For the year ended 30 June 2014 Table of Contents Page No Directors’ report 1-3 Statement of directors’ responsibilities 4 Report of the independent auditor 5-6 Financial statements: Income statement 7 Statement of Financial Position 8 Statement of Changes in Equity 9-10 Statement of Cash Flows 11 Notes 12-49 Cavmont Bank Limited Directors’ Report For the year ended 30 June 2014 The directors submit their report together with the audited financial statements for the year ended 30 June 2014, which disclose the state of affairs of Cavmont Bank Limited (“the bank”). PRINCIPAL ACTIVITIES The Bank is engaged in the business of banking and the provision of related services. The Bank had 17 branches and 2 Agencies at 30 June 2014. RESULTS AND DIVIDENDS The number of customer accounts of the bank increased from 58,000 as at 30 June 2013 to 63,227 as at 30 June 2014. Loans and advances grew from K235.40 million to K295.82 million in the period. While a positive trend was experienced in expenses, revenues grew faster than costs with monthly losses trending down wards significantly compared to the same time last year. It is also important note that the Bank recorded a profit in the last quarter (three months) of the financial year ended 30 June 2014. Notwithstanding, these positive trends the Bank recorded a loss for the financial year ended 3o June 2014 of K6.726million. -
A Market Study on Micro Finance Services in Zambia 2014
Agri-ProFocus Zambia A Market Study on Microfinance Services in Zambia A Market Study on Microfinance Services in Zambia FINAL REPORT December 2014 ©Agri-ProFocus Zambia (APF), 2014. All rights reserved. Agri-ProFocus Zambia encourages the use and distribution of material presented in this report provided that the original text is not altered, that the original source is properly and fully acknowledged, and that the objective of redistribution is not for commercial gain. Correct citation. Agri-ProFocus Zambia (APF), 2014. A Market Study on Microfinance Services in Zambia. APF, Lusaka, Zambia. Table of Contents Acknowledgements .................................................................................................................................... IV Executive Summary .................................................................................................................................... V Abbreviations ................................................................................................................................................ VI List of tables ............................................................................................................................................... VII 1.0 Introduction ....................................................................................................................................... 0 1.1 Background to the Study .................................................................................................... 0 1.2 Methodology ................................................................................................................................ -
Group Profile and Structure
GROUP PROFILE AND STRUCTURE WHO WE ARE Capricorn Group at a glance Capricorn Group is a diversified financial services group based in Windhoek, Namibia. We provide strategic guidance, oversight and support to our subsidiaries, whose operations are primarily focused on banking, insurance, wealth and asset management, and finance. Registered as: Capricorn Investment Group Limited 84.3% 100% 29.5% 97.9% Capricorn Investment Sanlam Namibia Cavmont Capital Bank Windhoek Ltd Holdings (Botswana) Ltd Holdings (Pty) Ltd Holdings Zambia PLC 100% 100% 28% 100% Bank Gaborone Ltd Capricorn Asset Santam Namibia Ltd Cavmont Bank Ltd Management (Pty) Ltd BOTSWANA ZAMBIA 100% 30% Capricorn Unit Trust Nimbus Management Company Ltd Infrastructure Ltd Acquired in 2018 100% Namib Bou (Pty) Ltd 100% Capricorn Capital (Pty) Ltd Launched in 2018 55.5% Entrepo Holdings (Pty) Ltd Acquired in 2018 NAMIBIA Epupa Falls, Kaokoveld GROUP PROFILE AND STRUCTURE 15 WHO WE ARE continued A wide spectrum of financial solutions for business clients includes structured finance, working capital finance as well as tailor-made term financing options. Bank Windhoek offers a wide range of treasury services, including money market and foreign currency exchange services. BARONICE HANS Our international banking services comprise foreign payment Managing director products, trade finance and foreign currency accounts. I AM inspired by the dedication, resilience Our bancassurance options include short-term, life, travel and and tenacity of the Bank Windhoek team as commercial insurance, and guarantees. together we translate vision into reality. One of the biggest highlights of the 2019 financial year has been when we became the first commercial bank in southern Africa to issue a green bond and the international recognition we received for WINDHOEK, NAMIBIA winning this year’s Green Bonds Pioneer Award from Climate Bonds. -
Curriculum Vitae
CURRICULUM VITAE PERSONAL INFORMATION SURNAME: HAKUYU. OTHER NAMES: THOMAS. DATE OF BIRTH: 14 SEPTEMBER, 1993. MARITAL STATUS. SINGLE. SEX: MALE. RELIGION: CHRISTIAN. NRC NO: 309582/10/1. NATIONALITY: ZAMBIAN. PLACE OF BIRTH: LUSAKA. CONTACT NO: +260 955 016 788. EMAIL: [email protected] ACADEMIC QUALIFICATION DURATION MULUNDUSHI UNIVERSITY 2012-2016 BACHELOR OF COMMERCE (DEGREE): ACCOUNTING AND FINANCE. FIRM LIGHT SCHOOL 2007-2009 GRADE TWELVE GCE. FIRM LIGHT SCHOOL 2005-2006 JUNIOR SECONDARY CERTIFICATE. PERSONAL SKILLS Computer Literate: Microsoft Word, Microsoft Excel, Microsoft Power Point, Internet Explorer, Access, outlook. Others are Data Analysis using statistical package for the social science (SPSS) and Basic Computer skills like software installation. WORK EXPERIENCE 1) CAVMONT BANK – MAKUMBI BRANCH November 2016 – January 2017 ATM CARD CLERK. DUTIES: - Ordering and Dispatching of ATM Cards. - Attending to walk-in clients. - Assisting with the monthly reports. - Marketing the Banks products. 2) MULTICHOICE ZAMBIA LIMITED - NDOLA BRANCH September 2017 - December 2017. CUSTOMER SERVICE REPRESENTATIVE (CASHIER) DUTIES: - Raising of Cash Sale/Receipts/Invoices for products sold. - Receiving payments and reconciling them with total sales on a daily basis. - Educating customers on products on offer. - Maintain financial accounts by processing customer adjustments. - Resolve customer complaints. - Calculate total payments received during a time period, and reconcile this with total sales. HOBBIES AND INTERESTS - Reading Fiction Novels. - Movies. - Music. - Playing Soccer REFERENCES 1) Mrs. MATIMBA CHIKUBA. 2) Mr. CHERA DERESSA. BRANCH MANAGER. HEAD OF DEPARTMENT. CAVMONT BANK – MAKUMBI BRANCH SCHOOLOFBUSINESSSTUDIES P.O BOX 38474 MULUNGUSHI UNIVERSITY. PIZIYA OFFICE PARK. P.O BOX 80415. THABO MBEKI ROAD. KABWE. LUSAKA. [email protected] CELL: +260 973 44 00 00 CELL: + 260 976 17 51 20 2) Mrs. -
Social Protection Payments Delivery
Social protection payments delivery Laura Rawlings & Luz Rodriguez Social Safety Net Core Course May 7th, 2018 Objectives of a Payment System • Successfully distribute the correct amount of benefits to the right people at the right time and frequency while minimizing costs to both the program and the beneficiary • Facilitate financial inclusion Payments are quickly evolving from manual to digital Who is manual and who is digital? COUNTRY PROGRAM # BENEF. PAYMENT METHOD PAYMENT SERVICE PROVIDER FREQUENCY OF PAYMENT BANGLADESH EGPP 1.4 M MANUAL - CASH Ministry of Disaster 16 Management and Relief NEPAL Seniors Citizens Allowance 922 K MANUAL - CASH Ministry of Federal Affairs and 3 Local Development ROMANIA Universal Child Allowance 2.1 M MANUAL - CASH Post Office 12 1.6 M DIGITAL Commercial Bank TURKEY Sartli Egitim Yardimi 1.9 M DIGITAL – DEBIT CARD Post Office 6 ETHIOPIA PSSN Urban 5.5 M DIGITAL Commercial Bank 12 2.4 M DIGITAL- MOBILE M-Bir and Hello Cash PAYMENT PSSN Rural 600 K DIGITAL – DEBIT CARD Commercial Bank DOMINICAN REP. PROSOLI 756 K DIGITAL – DEBIT CARD Commercial Banks Consortium 4 HONDURAS Bono Vida Mejor 240 K MANUAL - CASH State Bank – Banadesa 3 PERU Juntos 1.7 M DIGITAL – DEBIT CARD State Bank-Banco de la Nacion 6 MEXICO PROSPERA 1.2 M DIGITAL – DEBIT CARD State Bank - Bansefi 6 4.9 M DIGITAL – CARD WITH State Bank – Bansefi and agents CHIP (BIOMETRIC) network (Diconsa) Who is manual and who is digital? COUNTRY PROGRAM # BENEF. PAYMENT METHOD PAYMENT SERVICE PROVIDER FREQUENCY OF PAYMENT JAMAICA PATH 375 k MANUAL - -
Report on the Finance Fair C
1 REPORT ON THE 2016 FINANCE FAIRS HELD IN CHIPATA AND CHOMA INTRODUCTION The Finance Fairs took place from the 25-26th August at Chipata Golf Club and the Choma Fair 13-14th October at the Choma ZNS Stadium. The fairs consisted of a number of activities which include exhibitions, workshops, Match making and awards. Each of these categories involved active participation of the small scale farmers. Prior to the Finance Fairs, training on Business Planning was held and participants were mentored on development of the Business Plans. The Business Plans were presented to the Financial Institutions present at the Fair. ATTENDANCE The Chipata Finance Fair had 14 Organisations participating and 572 farmers and Individuals coming through to the event. The Choma Fair had 17 Organisations participating and a total of 826 farmers coming through on the first day and 446 farmers coming through on the second day. Breakdown of Participants at the Finance Fair No. Name Location Dates Male Female Female Participants Participants Participan Participant Participant Total event % from from ts from s from s from number Farmers’ Companies Governm NGOs/ other participants Organisation ent developm organisatio s ent ns agencies 1 Chipata Chipata 25/8/2016 - 350 212 38% 538 20 10 2 2 572 Finance Fair 26/8/2016 - Day 1 & 2 2 Choma Choma 13/10/2016 541 285 35% 773 30 14 5 4 826 Finance Fairn - Day 1 3 Choma Choma 14/10/2016 288 148 34% 396 27 14 5 4 446 Finance Fair - Day 2 The Choma Fair had a higher attendance in terms of participating organisations and the farmers attendance in general. -
EML Contracts Profile 2017.Cdr
50 ANNIVERSARY 1965 - 2015 www.eml-eis.com VALUE SERVICE QUALITY LOYALTY PRICE Contracting Reliable Quality Service since 1968 in the field of Electrical Contracting SUPPORT Zambia. COMPANY 2017-8 PROFILE 1 company details Name of the Company: Electrical Maintenance Lusaka Ltd. Address: Head Office Plot 195 Luanshya Road, East End Off Great North End Lusaka, 10101 Zambia Contact Details: +260 211 227824 +260 237014 - FAX [email protected] [email protected] [email protected] website: www.eml-eis.com 50 ANNIVERSARY 1965 - 2015 Contracts Department history 2 HISTORY: FOUNDER AND OWNER Mr George Narder achieved electrical and mechanical engineering qualifications in Italy following which he worked in Switzerland for 6 years. In 1963 he arrived in Zambia as part of a testing and commissioning team for the newly built Kariba Power Station and has lived in Zambia ever since. Mr Narder started an electrical engineering business in 1965, registered as Electrical Maintenance Lusaka LTD (EML). He has managed and run the company as its CEO for more than 50 years. Under his direct entrepreneurial management, EML has grown into one of the largest and most respected electrical and electronic engineering companies in Zambia. The company benefits from more than 60 years of his passion, knowledge and expertise. EML is proud to have participated in many facets of the social and Mr George Narder, Comm economic development of the country ELECTRICAL MAINTENANCE LUSAKA (EML) MOTO “Always with our customers” To continue improving on our 50 years of reliable quality service to the Zambian industry. our vision our mission e strive to remain one of Zambia’s ur added value is to provide quality leading and most diverse electrical products, service and training for all cWontracting, manufacturing, retail and electricalO requirements across the country, training companies. -
Media Release 06 August 2020 Access Bank Zambia and Cavmont
Media Release 06 August 2020 Access Bank Zambia and Cavmont Capital Holdings Zambia sign agreement to merge Cavmont Bank with Access Bank Zambia Complementary transaction that combines Access Bank’s wholesale finance capabilities with Cavmont Bank’s retail and commercial banking operations Lusaka – Access Bank Zambia Ltd and Cavmont Capital Holdings Zambia Plc (“CCHZ”) announce that they have signed a definitive agreement regarding a proposed merger of Access Bank Zambia and Cavmont Bank, a subsidiary of CCHZ. Once implemented, the combined bank is expected to boast a strong capital base, in excess of ZMW600 million, significantly exceeding the capital requirement for foreign owned banks under the regulations of the Bank of Zambia. This robust capital structure will not only ensure the banks’ customer deposit base benefits from the greater security but also form the foundation for sustainable banking operations and future growth. The transaction is expected to close during the fourth quarter of 2020 subject to the meeting of various conditions precedent which, amongst others, include CCHZ shareholder approval, relevant regulatory approvals and the local and regional competition commission authorities. The key highlights of the proposed transaction are as follows: A complementary transaction that combines Access Bank Zambia’s wholesale and trade finance capabilities with Cavmont Bank’s retail and commercial banking operations. Access Bank Zambia and Cavmont Bank customers to benefit from greater security offered by one of the most capitalised banks in the country, a more sophisticated product and service offering and a broader geographical network. Following the legal merger of the two banks, the enlarged entity will be a majority owned subsidiary of Access Bank Plc. -
Accelerating Digital Transformation in Zambia DIGITAL ECONOMY DIAGNOSTIC REPORT
Accelerating Digital Transformation in Zambia DIGITAL ECONOMY DIAGNOSTIC REPORT Accelerating Digital Transformation in Zambia DIGITAL ECONOMY DIAGNOSTIC REPORT © 2020 International Bank for Reconstruction and Development / The World Bank 1818 H Street NW Washington DC 20433 Telephone: 202-473-1000 Internet: www.worldbank.org This work is a product of the staff of The World Bank with external contributions. The findings, interpretations, and conclusions expressed in this work do not necessarily reflect the views of The World Bank, its Board of Executive Directors, or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgment on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries. RIGHTS AND PERMISSIONS The material in this work is subject to copyright. Because The World Bank encourages dissemination of its knowledge, this work may be reproduced, in whole or in part, for noncommercial purposes as long as full attribution to this work is given. Any queries on rights and licenses, including subsidiary rights, should be addressed to the Office of the Publisher, The World Bank, 1818 H Street NW, Washington, DC 20433, USA; fax: 202-522-2422; e-mail: [email protected]. Cover Design: Brian Majoni Layout Design: Diego Catto Photo Credit: AfriDelivery, BongoHive, Women’s Entrepreneurial Access Center -
Annex Iv: Banking in the Republic of Zambia
© Shutterstock.com ANNEX IV: BANKING IN THE REPUBLIC OF ZAMBIA Issuing authority: Bank of Zambia The Bank of Zambia Bank Square, Cairo Road P.O. Box 30080 Lusaka http://www.boz.zm a) Foreign exchange control processes b) Banking The Zambian currency is the Kwacha. The Kwacha rates The Bank of Zambia aims to provide excellent banking can fluctuate significantly. The Republic of Zambia has a services to its clients. It fulfils the following functions free market economy with no exchange controls. Major through the banking division: currencies can be bought and sold over the counter at I. Banker to the government bureau de change companies and banks in the country. II. Banker to commercial banks Money exchange services are available in cities and towns across the country and most will publish their Kwacha III. Settlement agent. exchange rates in-store. c) Currency management Exchange rates will vary from day to day, so ensure that you use a credible service provider; select the type of The Bank of Zambia has the sole right to issue bank notes service you are looking for and relevant companies will be and coins in the country. Its key role is to gain and main- presented. Bank accounts may be held in local or foreign tain public confidence in the currency. Subsequently, the currency, and funds are easily transferred out of the currency division is responsible for the designing and country or held offshore. Amounts of more than $5,000, ordering of banknotes and coins to meet the country’s carried in or out in cash or traveller’s cheques, must be demand. -
Caleb M Fundanga: Important Building Stones for Successful Organisations in Zambia
Caleb M Fundanga: Important building stones for successful organisations in Zambia Remarks by Dr Caleb M Fundanga, Governor of the Bank of Zambia, on the occasion of the opening of Investrust Bank PLC 2007 Management Strategic Planning Session, Mfuwe, 11 April 2007. * * * • The Managing Director • Heads of Departments • Members of the Investrust Bank Plc Management Team First of all, I wish to take this opportunity to say congratulations on your 10th anniversary attained on 19th September, 2006. Considering that the Bank opened its doors at a very difficult time when confidence in locally owned banks was at its lowest, reaching 10 years is no mean achievement. The Bank of Zambia is proud to be associated with your achievements and can assure you of our full support now and the future. It was only on 30th March 2007 that Bank of China also celebrated 10 years of operations in Zambia. It is a great privilege and honour for me to officiate at this wonderful and history making occasion in your bank. History making in the sense that you have gathered in this conference to chart a path for your Financial Institution to ensure its sustained growth. Decisions you will make in this gathering are critical to all your stake holders. The public is keenly following your growth and performance. Allow me to remind you of the following issues which I believe are important building stones for successful organizations. 1. Dynamic leadership Your role in Investrust Bank Plc is very crucial. As the Management team, you are providing leadership. Your way of doing things must be exemplary, inspirational, and analytical, with drive and with integrity. -
Issuer Investrust Bank
SENS ANNOUNCEMENT (the “Notice” or “Announcement”) ISSUER INVESTRUST BANK PLC (“INVESTRUST”) [Incorporated in the Republic of Zambia] Company registration number:119900021906 Share Code: INVESTRUST ISIN: ZM0000000235 Authorised by Brian Msidi – Company Secretary SPONSOR Stockbrokers Zambia Limited [Founder member of the Lusaka Securities Exchange] [Regulated and licensed by the Securities and Exchange Commission of Zambia] Contact Person: Chitalu Andrew Kabalika Contact Number: +260-211-232456 Website: www.sbz.com.zm APPROVAL The captioned Notice or Announcement has been approved by: i. the Lusaka Securities Exchange ii. the Securities and Exchange Commission iii. Stockbrokers Zambia Limited DISCLAIMER AND RISK WARNING The Notice or Announcement contained herein contains information that may be of a price sensitive nature. Investors are advised to seek the advice of their investment advisor, stockbroker, or any professional duly licensed by the Securities and Exchange Commission of Zambia to provide securities advice. ISSUED: 02 December 2020 INVESTRUST BANK PLC [Incorporated in the Republic of Zambia] Company registration number: 119900021906 Share Code: INVESTRUST ISIN: ZM0000000235 [“INVESTRUST” or “the Bank” or “the Company”] APPOINTMENT OF CHIEF FINANCIAL OFFICER In accordance with Section 3.59 of the Lusaka Securities Exchange Listing Rules, the Board of Directors of Investrust Bank Plc (“the Board”) wishes to announce the appointment of Mrs Matongo Syamujaye as Chief Financial Officer of the company with effect from 6th November, 2020. Mrs Syamujaye is a Fellow member of the Zambia Institute of Chartered Accountants and a Fellow of the UK’s Association of Chartered Certified Accountants with over 16 years’ experience in the Financial Services in Senior Management positions and was until recently the Acting Chief Financial Officer of the Bank.