adminissued by the bank, the decision not to renew the licence was taken in view of its restructuring programme.
“The financial services industry is in the process of consolidating around the globe due to the financial distress and uncertainty in the operating environment.
“The local market has not been spared and it is against this background that AfrAsia Kingdom Zimbabwe Limited has made a decision not to renew Kingdom Stockbrokers (Private) Limited’s operating licence for the current year,” the bank said.
The banking group said it was confident that this deliberate move would maximise shareholder value and improve the business’ efficiency as AKZL streamlines its products and services.
“The AfrAsia Kingdom Zimbabwe Limited board and management would like to express sincere gratitude to KSB customers for their loyalty, the KSB management and staff for their dedication and commitment over the years and the regulators who are working closely with us as we wind down the business,” it said.
Online Reporter
- Herald
- July 31, 2026
- 24 views
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