The headquarters and main branch of Cavmont Bank Limited are located at 2374 Thabo Mbeki Road, in the city of Lusaka, the capital and largest city in Zambia.[4] The geographical coordinates of the headquarters of the bank are: 15°24'06.0"S, 28°19'20.0"E (Latitude:-15.401667; Longitude:28.322222).[5]
CBL provides an array of banking services including in the areas of community banking, retail banking, investment, and corporate banking. As of June 2016[update], the bank was a retail bank with total assets valued at ZMW:946.8 million (US$96.7 million), with shareholders' equity of ZMW:118.1 million (US$12.1 million). At that time the bank employed a total of 245 people.[2] By December 2016, the bank's total assets had increased to ZMW:1,063,735,000.00 (US$108.64 million).[6]
The Bank was established on 1 January 2004, following a merger between Cavmont Merchant Bank Limited (incorporated in October 1992), and New Capital Bank Plc., (incorporated in June 1992). In 2006 the Bank's holding company, Cavmont Capital Holdings Zambia Plc (CCHZ)', sought a strategic investment partner and identified Capricorn Investment Holdings Limited (CIH). CIH acquired a 44.2% shareholding in CCHZ in 2007.[7]
Discussions held with the Bank of Zambia to find an acceptable manner to recapitalize Cavmont Bank through a rights issue by CCHZ were concluded successfully, with CIH underwriting the rights issue. Consequently, CCHZ raised additional share capital of more than K15.4 billion in 2007 and the re-positioning of Cavmont Bank commenced.[8]
The Bank of Zambia revised capitalization requirements for local Banks and foreign Banks and it is in light of this that the holding company has warehoused 51% shares in Makumbi Investments Limited a special purpose vehicle earmarked for forward offer to local investors. As of 31 December 2013, the Bank has met the equity shareholding and capital requirements for local banks.[9]
Cavmont Bank Limited is a 100 percent subsidiary of Cavmont Capital Holdings Zambia Plc. (CCHZ). The investors in CCHZ, and therefore in CBL, include Capricorn Investment Holdings (CIH), a financial conglomerate with investment interests in three Southern African countries: Botswana, Namibia and Zambia. CIH owns controlling interests in Bank Gaborone in Botswana and Bank Windhoek in Namibia, in addition to its minority shareholding in Cavmont Capital Holdings Zambia Plc. The stock of the holding company, CCHZ, is Listed on the Lusaka Stock Exchange (LUSE), where it trades under the symbol: CCHZ. The shareholding in CCHZ and therefore in CBL is depicted in the table below:[10]
Cavmont Bank is a member of the Capricorn Group of Companies under the umbrella of the parent company Capricorn Investment Holdings, a Namibia-based investment conglomerate.[12] The Group has investment interests in southern Africa, as outlined in the graphic below:
Zambia
Cavmont Capital Holdings Zambia Plc. - 44.5% Shareholding
Aftertax:ZMW:696,000 (US$71,100) (2016)[2]
Zambia
Namibia
Botswana
