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Business Reporter
Officials of ShoreCap II Limited, an international investment fund accompanied by the fund’s manager, Equator Capital Partners of the United States are visiting Zimbabwe to meet with the management and directors of their portfolio company, FBC Holdings. ShoreCap II are the second largest shareholder in the banking group after NSSA. ShoreCap II was formed by Equator, according to the Equator website. It is an $80 million international fund incorporated in Mauritius in 2009. It purchased a 7 percent stake in FBC in 2013.
The delegation yesterday met the Reserve Bank of Zimbabwe governor Dr John Mangudya and Finance and Economic Development Minister Patrick Chinamasa. According to FBC Holdings head of marketing Priscilla Sadomba the officials will get a first-hand briefing on FBC operations. “They look forward to getting a first-hand briefing on FBCH’s operations and strategies in the context of the current economic climate in Zimbabwe.”
The delegation will also get a feel of Zimbabwe with a view of investing further in various sectors. The officials spent the last few days in Zambia having visited their portfolio company in Lusaka Zambia.
Online Reporter