BancABC
Encyclopedia
BancABC is a pan-African financial services provider, headquartered in Gaborone
, Botswana
. BancABC has subsidiaries in the following African Countries: Botswana
, Mozambique
, Tanzania
, Zambia
and Zimbabwe
. The holding company for the group's operations is called ABC Holdings Limited. The shares of stock
of the holding company, are listed on the Botswana Stock Exchange
(BSE) and on the Zimbabwe Stock Exchange
(ZSE), where they trade under the symbol: ABCH.
and parts of East Africa
. , the bank's group assets were valued at over US$:932 million, with shareholders' equity valued at over US$67.9 million.
, with a secondary listing on the Zimbabwe Stock Exchange
in 2000. The certification committee of the Botswana International Financial Services Centre (IFSC) granted IFSC status to both ABC Holdings Limited and African Banking Corporation (International) Limited, which is a 100 percent subsidiary of ABC Holdings Limited. In April 2009, the bank re-branded to BancABC.
(IFC) and Citi Venture Capital Investments - the investment arm of Citibank
. See table below:
{| style="font-size:100%;"
|-
| width="100%" align="center" | Major Shareholders in BancABC
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" | Rank !! Shareholder !!Percentage Ownership
|-
|1||Old Mutual Plc.
||
|-
|2||Botswana Insurance Fund Managers (BIFM)||
|-
|3||International Finance Corporation
(IFC)||
|-
|4|| Citi Venture Capital Investments||
|-
|5||Individual Investors||
|-
|6||African Development Corporation of Mauritius
||20.00
|-
|||Total||100.00
|-
|}
Gaborone
' is the capital and largest city of Botswana with a population of 191,776 based on a 2006 survey, about 10% of the total population of Botswana....
, Botswana
Botswana
Botswana, officially the Republic of Botswana , is a landlocked country located in Southern Africa. The citizens are referred to as "Batswana" . Formerly the British protectorate of Bechuanaland, Botswana adopted its new name after becoming independent within the Commonwealth on 30 September 1966...
. BancABC has subsidiaries in the following African Countries: Botswana
Botswana
Botswana, officially the Republic of Botswana , is a landlocked country located in Southern Africa. The citizens are referred to as "Batswana" . Formerly the British protectorate of Bechuanaland, Botswana adopted its new name after becoming independent within the Commonwealth on 30 September 1966...
, Mozambique
Mozambique
Mozambique, officially the Republic of Mozambique , is a country in southeastern Africa bordered by the Indian Ocean to the east, Tanzania to the north, Malawi and Zambia to the northwest, Zimbabwe to the west and Swaziland and South Africa to the southwest...
, Tanzania
Tanzania
The United Republic of Tanzania is a country in East Africa bordered by Kenya and Uganda to the north, Rwanda, Burundi, and the Democratic Republic of the Congo to the west, and Zambia, Malawi, and Mozambique to the south. The country's eastern borders lie on the Indian Ocean.Tanzania is a state...
, Zambia
Zambia
Zambia , officially the Republic of Zambia, is a landlocked country in Southern Africa. The neighbouring countries are the Democratic Republic of the Congo to the north, Tanzania to the north-east, Malawi to the east, Mozambique, Zimbabwe, Botswana and Namibia to the south, and Angola to the west....
and Zimbabwe
Zimbabwe
Zimbabwe is a landlocked country located in the southern part of the African continent, between the Zambezi and Limpopo rivers. It is bordered by South Africa to the south, Botswana to the southwest, Zambia and a tip of Namibia to the northwest and Mozambique to the east. Zimbabwe has three...
. The holding company for the group's operations is called ABC Holdings Limited. The shares of stock
Stock
The capital stock of a business entity represents the original capital paid into or invested in the business by its founders. It serves as a security for the creditors of a business since it cannot be withdrawn to the detriment of the creditors...
of the holding company, are listed on the Botswana Stock Exchange
Botswana Stock Exchange
The Botswana Stock Exchange is a small but thriving stock exchange located in Gaborone, Botswana. The Botswana share market was established in 1989 and became the Botswana Stock Exchange in 1995...
(BSE) and on the Zimbabwe Stock Exchange
Zimbabwe Stock Exchange
The Zimbabwe Stock Exchange, or ZSE, is the official stock exchange of Zimbabwe. It has been open to foreign investment since 1993. The exchange has about a dozen members and over 65 listed securities...
(ZSE), where they trade under the symbol: ABCH.
Overview
The bank is a large financial services provider in Southern AfricaSouthern Africa
Southern Africa is the southernmost region of the African continent, variably defined by geography or geopolitics. Within the region are numerous territories, including the Republic of South Africa ; nowadays, the simpler term South Africa is generally reserved for the country in English.-UN...
and parts of East Africa
East Africa
East Africa or Eastern Africa is the easterly region of the African continent, variably defined by geography or geopolitics. In the UN scheme of geographic regions, 19 territories constitute Eastern Africa:...
. , the bank's group assets were valued at over US$:932 million, with shareholders' equity valued at over US$67.9 million.
History
The establishment of ABC Holdings Limited commenced with a merger between First Merchant Bank (FMB) and Heritage Investment Bank (HIB) in 1997. ABC Holdings Limited was registered and listed on the Botswana Stock ExchangeBotswana Stock Exchange
The Botswana Stock Exchange is a small but thriving stock exchange located in Gaborone, Botswana. The Botswana share market was established in 1989 and became the Botswana Stock Exchange in 1995...
, with a secondary listing on the Zimbabwe Stock Exchange
Zimbabwe Stock Exchange
The Zimbabwe Stock Exchange, or ZSE, is the official stock exchange of Zimbabwe. It has been open to foreign investment since 1993. The exchange has about a dozen members and over 65 listed securities...
in 2000. The certification committee of the Botswana International Financial Services Centre (IFSC) granted IFSC status to both ABC Holdings Limited and African Banking Corporation (International) Limited, which is a 100 percent subsidiary of ABC Holdings Limited. In April 2009, the bank re-branded to BancABC.
Ownership
As of May 2009, the Group's shareholders include among others: Old Mutual, Botswana Insurance Fund Managers (BIFM), the International Finance CorporationInternational Finance Corporation
The International Finance Corporation promotes sustainable private sector investment in developing countries.IFC is a member of the World Bank Group and is headquartered in Washington, D.C., United States....
(IFC) and Citi Venture Capital Investments - the investment arm of Citibank
Citibank
Citibank, a major international bank, is the consumer banking arm of financial services giant Citigroup. Citibank was founded in 1812 as the City Bank of New York, later First National City Bank of New York...
. See table below:
{| style="font-size:100%;"
|-
| width="100%" align="center" | Major Shareholders in BancABC
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" | Rank !! Shareholder !!Percentage Ownership
|-
|1||Old Mutual Plc.
Old Mutual
Old Mutual plc is an international long-term savings group. Established in 1845 in South Africa, it is now a FTSE100 listed company operating in 33 countries.-History:...
||
|-
|2||Botswana Insurance Fund Managers (BIFM)||
|-
|3||International Finance Corporation
International Finance Corporation
The International Finance Corporation promotes sustainable private sector investment in developing countries.IFC is a member of the World Bank Group and is headquartered in Washington, D.C., United States....
(IFC)||
|-
|4|| Citi Venture Capital Investments||
|-
|5||Individual Investors||
|-
|6||African Development Corporation of Mauritius
Mauritius
Mauritius , officially the Republic of Mauritius is an island nation off the southeast coast of the African continent in the southwest Indian Ocean, about east of Madagascar...
||20.00
|-
|||Total||100.00
|-
|}
Subsidiaries
Subsidiary companies of BancABC include, but are not limited to the following:- BancABC Botswana
- BancABC Mozambique
- BancABC Tanzania
- BancABC Zambia
- BancABC Zimbabwe
- Tanzania Development Finance Company
- Microfin Africa Zambia Limited
See also
- List of banks in Botswana
- Economy of BotswanaEconomy of BotswanaSince independence, Botswana has had the highest average economic growth rate in the world, averaging about 9% per year from 1966 to 1999. Growth in private sector employment has averaged about 10% per annum over the first 30 years of independence. The relatively high quality of the country's...
- List of companies of Botswana