ed. Before the announcement, ABSA owned
24,1 percent which has been acquired by the jewel bank by way of a share buy-back scheme. It
is not known at this stage how much CBZ paid for the shares.
ABSA is owned by the British bank, Barclays.
Earlier this week the American food giant, H J Heinz company announced it
was disinvesting from Zimbabwe’s Olivine.
6.9.2007
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South Africa’s ABSA Bank pulls out of Zim (6-09-07)
In yet another high-profile disinvestment, South africa's ABSA Bank has
sold its stake in the Commercial Bank of Zimbabwe (CBZ), sometimes known as
The Jewel Bank.
In a statement today ABSA announced that all regulatory and other
applicable approvals had been fulfill