adminrecapitalisation drive aimed at strengthening its finances.
The partners, to be unveiled before the end of the year, are expected to inject a significant proportion of equity into Kingdom, which is planning to raise US$25 million.
Kingdom corporate communications and public relations executive Mrs Sekai Chitemerere said the group was about to conclude the deal which would strengthen its capital position.
But she said Kingdom would not disclose the identities of the potential investors until the deal was done.
She indicated the investors were likely to inject more than the expected US$25 million and the capital raised would be used as regulatory and economic capital, as mentioned in a circular to shareholders.
The partnership between Kingdom and the four investors comes at a time economic financial analysts have called upon financial institutions to consider alternative means of raising capital, including offshore funding and mergers.
Kingdom intends to raise US$25 million capital, comprising US$15 million debt and US$10 million equity.
Already, Kingdom has raised US$4,5 million through a rights issue. The Reserve Bank of Zimbabwe gave a special dispensation to Kingdom Bank early this year to comply with the minimum capital requirements by February 2012.
Kingdom was optimistic the recapitalisation drive would enable it to meet the RBZ capital threshold and increase its market share, which in June stood at five percent.
After full recapitalisation, Kingdom expects to re-list on the Zimbabwe Stock Exchange.
In addition to relisting on ZSE, the group will also list on the Johannesburg Securities Exchange and the Stock Exchange of Mauritius to access more equity and bond markets.
The recapitalisation will strengthen the balance sheet of the group ahead of the listing.
Online Reporter