Business Reporter
CBZ Bank has unveiled its revamped affluent banking proposition, moving beyond traditional transaction-based services to encompass comprehensive lifestyle banking, advisory services and wealth management.
Speaking during the launch event last Thursday, CBZ Bank managing director Ms Valeta Mthimkhulu pointed to the country’s shifting economic landscape as a key driver for the change.
Reflecting on the bank’s historical relationship with its high-net-worth clients, Ms Mthimkhulu noted that while CBZ had always been reliable, its approach needed a fundamental evolution.
“Every institution eventually faces an uncomfortable question: are we serving the people in front of us, or the way we have always done things?” Ms Mthimkhulu said.
“A bank that only moves money is a utility, and nobody needs a utility to think about the next 20 years of their life.
“We had to enhance our offering because the old one answered yesterday’s question.” Ms Mthimkhulu said the transformation of CBZ’s private banking services was strongly supported by broader economic developments in Zimbabwe. Citing recent macroeconomic figures, the bank highlighted that the economy grew by 8,3 percent in 2025, with the Treasury projecting a 5 percent growth rate for 2026.
Annual local-currency inflation dropped to 2,9 percent in August —marking its lowest point since 1980 — alongside foreign currency receipts reaching US$15,9 billion in the first nine months of the year.
Physical and structural shifts are also reshaping domestic wealth. Gold production is projected to reach between 50 and 55 tonnes this year, while a widespread construction boom is actively underway, heavily fuelled by diaspora remittances that grew by 22 percent from January to September.
“I do not cite these figures to celebrate them; stability must be defended every year,” Ms Mthimkhulu said.
“I cite them because they change what is possible. A nation first stores its wealth in what it can see: gold in the ground and houses on the land.
The next step is wealth that is structured, diversified and passed on.
“That step requires a different kind of bank.”
The newly structured proposition introduces three distinct tiers designed to support clients across different stages of financial life: prime banking for building momentum, private banking for coordinating complex affairs, and wealth management for stewardship and legacy.
The country’s largest bank is also deliberately expanding its reach to accommodate the reality of an informalised market, where 76,1 percent of businesses operate outside the formal system.
Ms Mthimkhulu stressed that a bank insisting strictly on payslips in such an environment will keep rejecting the very entrepreneurs, builders and farmers who are driving the economy.
Instead, CBZ is moving toward evaluating clients through their business operations, cash flows and ongoing banking relationship.
To support international mobility and global lifestyle needs, the bank has refreshed its partnership with Visa and ModuPay to reintroduce the recyclable CBZ Visa Infinite card, providing broader benefits and privileges.
In a statement reinforcing the rollout, the bank noted that the new service offering is tailored for “customers ranging from mid-to-high-income professionals and emerging affluent individuals to high-net-worth executives and individuals seeking specialist financial advice and wealth management solutions”.
The bank underscored its commitment to flexibility, emphasising that as customers progress in their careers, grow businesses and build wealth, their financial expectations naturally evolve.
“Our responsibility is to respond with solutions that recognise these changes and provide meaningful value at every stage of their financial journey,” the bank said.
